Buying off-plan developments properties that are sold before they are completed—offers several potential benefits for investors and buyers.
Properties are often priced lower compared to completed properties and buyers can lock in a price before the market value increases, potentially offering significant capital gains by the time the property is completed.
Capital appreciation can be advantageous as the project progresses, where property values in the area may increase, leading to higher market values by the time the property is ready.
New construction developments typically meet the latest building codes and energy efficiency standards, which can lead to lower maintenance costs and improved comfort.
Longer-term payment plans may be offered in installments throughout the construction process, which can ease the financial burden. The final payment is usually due upon completion, allowing time to save for the last portion of the cost.
If buying as an investor, especially with off-plan properties in growing areas can provide a strong rental yield once completed.
Warranty and Guarantees often come with new builds, which provide buyers with peace of mind regarding any defects or issues that may arise in the early years of ownership.
Some regions offer tax incentives, rebates, or other financial benefits for new developments, especially those under certain conditions (e.g., energy-efficient homes).
Why Buy or Invest in New Real Estate Developments in Senegal.
Senegal has experienced consistent economic growth in recent years, with infrastructure development, tourism, and mining playing significant roles. A growing economy creates a stable environment for real estate investments, with the potential for appreciation over time.
The Senegalese government has initiated several reforms to encourage foreign investments, including in real estate. Programs like the "Plan Sénégal Emergent" (PSE) aim to modernize infrastructure, making the country more attractive for development projects. The government is also making efforts to ease property ownership laws for foreign investors.
Tourism in Senegal is booming, with its rich culture, beaches, and historic sites drawing international visitors. With the government's push for tourism and hospitality growth, investing in real estate developments catering to tourists, such as hotels or vacation homes, can be lucrative.
For international investors, the Senegalese real estate market offers a way to diversify portfolios, with opportunities in both emerging markets and established sectors. This can reduce risk by providing exposure to a high-growth market.
