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?

Transaction Costs

Who Pays?
Stamp Duty 5% buyer
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
Stamp duty on transfers of real property is levied at around 5% of the property value.

Legal Fee
Legal fees are around 2% to 3% of the property value.

 

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