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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