Property transaction costs are low in Gambia
May 15, 2017
How high are realtors´ and lawyers´ fees in Gambia? What about other property purchase costs?
|Legal Fee||2% - 3%||buyer|
|Real Estate Agent’s Fee|
|Costs paid by buyer||7% - 8%|
|Costs paid by seller|
|ROUNDTRIP TRANSACTION COSTS||7% - 8%|
| See Footnotes
Source: Global Property Guide
How difficult is the property purchase process in Gambia?
Footnotes to Transaction Costs Table
The round trip transaction costs include all costs of buying and then re-selling a property – lawyers’ fees, notaries’ fees, registration fees, taxes, agents’ fees, etc.
Stamp duty on transfers of real property is levied at around 5% of the property value.
Legal fees are around 2% to 3% of the property value.