The cost of buying property in Gambia: taxes & fees
Buying property in Gambia can be an appealing option for those looking to invest, relocate, or find a second home.
However, potential buyers should familiarize themselves with the various costs and taxes involved to make informed decisions. This guide covers the one-off purchase costs, recurring ownership expenses, and other essential financial considerations.
One-off Purchase Costs
When purchasing property in Gambia, you should expect several one-off costs aside from the purchase price.
Key costs typically include transfer tax, legal fees, registration fees, and any fees charged by notaries.
- Transfer tax (generally around 5% of the property value)
- Notary fees, often varying by property price
- Legal/conveyancing fees, usually around 1-2% of the property value
Total Percentage to Budget
As a general guideline, total one-off costs can range from 6% to 10% of the property's purchase price, depending on various factors.
Worked Example
If you are considering a property priced at GMD 1,000,000, with an estimated transfer tax of 5%, the one-off costs might look like this:
- Transfer Tax: GMD 50,000
- Legal Fees (1.5%): GMD 15,000
- Notary Fees: GMD 10,000 (estimated)
This would bring your total one-off costs to approximately GMD 75,000, equating to 7.5% of the property price. Verify all costs with a local expert.
Recurring Costs of Ownership
After the purchase, ongoing expenses will include annual property tax, community fees (if applicable), utilities, and insurance.
Property tax varies but is often a small percentage of the property's assessed value. Community fees might apply if the property is part of a complex.
- Annual property tax (check local rates)
- Community/Condo fees, if applicable
- Utilities (electricity, water)
- Insurance costs for your property
Mortgage Considerations for Non-Residents
Obtaining a mortgage as a non-resident in Gambia can be challenging, as many banks have strict lending criteria.
Typically, non-residents may be required to provide a larger deposit and possibly show substantial proof of income. Always consult with local financial advisers for precise conditions.
Frequently asked questions
What is the transfer tax when buying property in Gambia?
The transfer tax is generally around 5% of the property's purchase price.
What other fees should I budget for when purchasing property?
Expect to pay legal fees (around 1-2%), notary fees, and registration fees in addition to the purchase price.
Are there annual property taxes in Gambia?
Yes, there is an annual property tax that varies based on the property's assessed value.
Can non-residents get a mortgage in Gambia?
Yes, but non-residents may face stricter lending requirements and must often provide a larger deposit.
How can I verify the costs I will face when buying property?
It is advisable to consult with a qualified local lawyer and tax accountant for accurate and current cost estimates.
This guide is general information, not legal, tax or immigration advice. Rules change — verify the current position with official sources and a qualified professional before acting. Last reviewed September 2026.