Allo' Expat Senegal - Connecting Expats in Senegal  
Allo' Expat Senegal Logo


Subscribe to Allo' Expat Newsletter
 
Check our Rates
   Information Center Senegal
Senegal General Information
Senegal Expatriates Handbook
Senegal and Foreign Government
Senegal General Listings
Senegal Useful Tips
 
Housing in Senegal
Pets to bring into Senegal
Maids in Senegal
Driving in Senegal
Business Etiquettes in Senegal
Customs & Etiquettes in Senegal
Senegal Education & Medical
Senegal Travel & Tourism Info
Senegal Lifestyle & Leisure
Senegal Business Matters
  Sponsored Links


Check our Rates

Housing in Senegal
 
 
 

Buying a Property

Foreigners owning property in Senegal are not discriminated against, and 100% foreign ownership of business is permitted in most sectors.

Note: Officially, the Investment Code stipulates free transfer of capital, but in reality, President Wade’s reforms cannot be instantaneous, and transfers to countries other than members of the West African Economic and Monetary Union are still subject to numerous requirements, controls, and authorisations. Also, opening a foreign exchange account requires approval of both the central bank and government.

While the calculated transaction costs are high,the real costs are less. The buyer’s real costs are around 10.2%. An a priori assumption is that the present government will move to reduce fees, moving legality in line with reality.

A foreign buyer can buy either from an individual or from the government.

When buying from an individual, the buyer needs the services of a lawyer, who secures a registry certificate from the Land Registry to identify any encumbrances, and to confirm ownership of the property.

Once decided, a promissory agreement is signed by both parties in the presence of the notary. The Ministry of Finance authorises the transfer by request of the parties. Upon authorisation, the notary issues a proof of sale and prepares the deed.

The sale is then registered and stamped, and the notary requests the change of name at the Land Registry Book.

When buying from the government, the buyer goes to the government’s investment centre, APIX (Agence Nationale Charge de le Promotion de L’investissement et des Grands Travaux). It is necessary for the cadastral service to prepare a map of the land, and to state whether it is public domain, private, or national domain land.

The buyer addresses a petition to the Ministry of Economics & Finance through APIX. The petition must contain: the cadastral plan, the projected works, the cost of works and their financing method, and the number of jobs which are expected to be created.

APIX then advises the relevant authorities, especially the General Directorate of Customs & Excise. What follows depends on the kind of land involved. In the case of a private sale, the contract is notarised; if the sale involves more than 10 million francs, it receives the prior authorisation from the Ministry of Economics & Finance.

Renting a Property

In theory rents on residential leases are fixed by law, according to the market value of the premises. However in practice, such rents are decided solely by the landlord.

Rents can only be revised every three years. In the event that a revision of the rent cannot be mutually agreed between landlord and tenant, it has to be fixed by the relevant court, after the case has been referred to it by one of the parties. Otherwise, any increase will be considered illicit.

The tenancy agreement may stipulate a deposit to guarantee payment of the rent and fulfilment by the tenant of his obligations stipulated in the contract, such as the promise to make the premises as good as at the beginning of the contract, and to pay all electricity, telephone and water bills.

At the expiry of the tenancy agreement, the deposit shall be repaid by the landlord, unless his tenant still owes him money or has not fulfilled the above obligations.

By law, residential leases are either fixed for three years duration, renewable for the same period of time, or they are indefinite period contracts. In the case of definite-term leases, the parties must comply with the duration, or else the contract shall deemed to be for an indefinite period. The contract ends on the day of expiry, if not renewed for a fresh three year period, or alternatively ends when termination is mutually agreed by the parties.

If the contract was stipulated for an indefinite duration, or is considered by law to be an indefinite period contract, it shall end by a two months “notice to quit” given by the tenant through a bailiff, or by a six months notice to quite given by the landlord.

The landlord shall be entitled to give notice to quit only for occupation by himself or spouse or his ancestor or descendant, or to demolish and rebuild the premises.

The tenancy contract may also be terminated by a mutual consent of the parties, or at thirty days’ notice, for lack of compliance with the provisions of the contract.

 

 
 

 



 


copyrights © AlloExpat.com
2015 | Policy