Real estate is generally seen as a prime investment for building or growing wealth. Investing in property has been the starting point for many fortunes. In Africa, and particularly in Senegal, the real estate market has been booming in recent years. Many foreign investors see a significant advantage there! We will explore four reasons to invest in real estate in Senegal.
1) A DYNAMIC AND ATTRACTIVE ENVIRONMENT
Senegal is a country that attracts many people. Its infrastructure, unique landscapes, numerous tourist sites , and geographical location make it one of the most attractive in Africa, not to mention its sunny climate!
As such, Senegal has forged a very good reputation on the world stage. Its democratic system, the absence of major conflicts, and the massive development of modern infrastructure (international airport, highways, etc.) all reinforce the idea that the country is experiencing a period of great expansion. Perfect for business!
2) REAL ESTATE IN FULL EXPANSION
For the past twenty years, the Senegalese government has paid particular attention to its real estate market. This commitment numerous initiatives , including the well-known 100,000-unit housing project. The latter aims to address the shortage of decent housing, especially for the least affluent segments of the population.
This stated desire of the government is the result of growing demand , not only from individuals but also from businesses seeking premises for their companies. Many real estate developers and builders have recognized the potential of this opportunity and have established themselves in Senegal to take advantage of it.
3) A REGULATED FRAMEWORK
The dynamism of the real estate market has also prompted authorities to implement regulatory to secure transactions and other real estate operations. The various stakeholders in the profession are subject to legal rules designed to protect individuals from disputes. Real estate agencies issue sales mandates to formalize the marketing of a property. All of these regulations provide investors with the confidence to realize their projects.
4) A PROFITABLE INVESTMENT
Attractive returns are another compelling reason to invest in real estate in Senegal. Taxation is significantly less burdensome than in many other countries, allowing investors to maximize their profitability. Rental income can reach 8 to 10%, depending on the location. The same is true for property values, which appreciate rapidly, especially in high-demand areas. For example, the Petite Côte region has seen real estate prices skyrocket in just a few years, driven by an influx of Dakar residents buying second homes and an increasing number of foreigners moving there.
Real estate is indeed a key sector driving Senegal's economic growth, and this is not about to end given the country's significant potential for development. Perhaps now is the time for you to get involved?
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