african property markets - west africa property sales and investments are booming
Released on: October 8, 2007, 1:36 pm
Press Release Author: Gambia Property News
Industry: Real Estate
Press Release Summary: For the adventurous overseas property investor looking for a
foothold on the West
African property market, The Gambia offers value for money and
represents an opportunity for anyone looking for a good return on an overseas
holiday apartment as a property investment or looking for commercial or tourism
investments.
Press Release Body:
Private and institutional property investors appear to be getting more adventurous
and are looking further afield for potential returns. The UK market still offers
some value, but it has seen a sharp rise in prices in recent years and interest
rates now on an upward trend.
More adventurous investors are trying the Bric property
markets of Brazil, Russia,
India and China. Africa may seem an unlikely investment opportunity, but with its
markets growing at full speed, the continent looks increasingly attractive
London
based property giant Knight Frank has just launched its East
Africa property
fund having recently reported an increase in real estate value and growth in the
region. The firm’s private equity real estate arm will launch an
East
Africa-dedicated fund, its fifth fund in the last two and a
half years.
The British Government backed CDC fund will target less developed countries in
western and southern Africa such as Nigeria, Malawi and Mozambique. It will be
managed by Actis, a private equity firm that evolved out of the CDC, formerly known
as the Commonwealth Development Corporation.
Actis is now an independent firm backed by 25 investors. The Actis
Africa
Real Estate Fund, which aims to focus on investments in office
and retail space in
sub-Saharan Africa, should facilitate the creation of adequate infrastructure and
make the region more attractive for other property investment.
The Gambia is a 6 hour flight from London and has blossomed into a world class
tourist resort over the last decade with five star holiday hotels, fine dining,
fantastic beaches, water sports, sports fishing and many other quality holiday,
sporting and leisure pursuits. The Gambian economy has been projected to grow at a
robust 7%, the country\'s acting Central Bank Governor, Bamba Saho, disclosed.
Governor Saho told a news conference that the robust growth will be \"underpinned by
plentiful and well distributed rainfall which should increase agricultural
production, expanding the services sector, including banking, tourism and
communications and the continuing boom in
construction.”
The International Monetary Fund (IMF) was satisfied with the country\'s first review
of the economic performance, which was supported by a three-year Poverty Reduction
and Growth Facility (PRGF) programme.
The Gambia was also praised for attaining macro-economic stability and higher
economic growth. Consequently, the IMF has approved the release of US 3.1 million to
the country.
Between December 2006 and July 2007, the Gambian
currency [the dalasi] appreciated
against the US dollar, pound sterling, euro and CFA franc respectively by 9.7%,
3.8%, 2.2% and 4,9%, which according to the Governor, reflected an
“improved macro-economic fundamentals including robust output growth, increased
foreign inflows from foreign direct investment, private
remittances, re-exports, travel receipts and cashew exports as well as confidence in
the Gambian
economy and healthy reserves.”
Gambia Holiday News are very active in the marketing and selling of unique, designer
and luxury houses of individuals as well as acting for Gambian and international
property investment, development companies and institutions.
\'We have well-established connections with overseas property buyers, property
investors (including buy-to-let holiday aprtment projects) as well as pension fund
managers who are now showing an interest in the Gambian
emerging property market\',
said Ivor Bartell of GHN.
As an example We have high specification beach-front properties in Brufut Heights
with some of the finest residential ocean views in the Gambia. The properties are a
stones throw to the beach and a short walk to shops and the Gambia’s finest and
newest 5 star Sheraton Hotel offering restaurants, spas and other luxury amenities.
Brufut Heights is destined to be the site of some of Gambia’s most exclusive homes.
Brufut Heights was granted residential status by the Gambian
Tourist Authority in
2002 and as such this area is one of The Gambia\'s few places where year round
residential living can be found next to the beach with uninterrupted views.
Brufut Heights has a community residents association that acts on behalf of all the
property owners to ensure the infrastructure and facilities, such as roads, power
and communications are developed to enhance and improve the living and the
investment of your property.
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