Libreville Gabon Real Estate
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If you are leasing a property in Libreville, you may be asked to hand over a substantial sum of money before you can sign the lease. This money is a six-month rent that covers the cost of the property as well as the rent for the first year of your lease, and all foreign subsidiaries must be submitted to the Office of Real Estate Services. If you wish to take or send potentially exported material to Gabon, please contact the Compliance Office of the Campus Research Administration for more information.
Gabon has an estimated urban growth rate of around 30,000 inhabitants per year, with an average annual population growth rate of 2.5%. SNLS has built 2000 three bedroom villas in Libreville at a unit cost of between CFA23 million (EUR34,500) and C FAF42 million [EUR63,000]. Social housing starts with the monthly minimum wage in Gabon, which is between CZK 150,000 and CZK 225,000. The average cost of a detached home in the nation's capital is between $50,000 and $170,000 per unit, according to the Housing Department.
Action 152 (NIMP) shows that the government is planning to build 35,000 homes to increase the supply of housing in the country. The project was originally scheduled to be completed by the end of 2016, but only 2048 homes have been completed so far.
Annual direct investment in Gabon amounted to $1.8 billion in 2011, compared to $1 billion in 2010, and the number of foreign direct investment ($531 million) increased significantly compared to 2010. Gabon has the second highest annual GDP per capita of all the following countries: Cameroon, Burkina Faso, Chad, Ivory Coast, Mali, Niger, Nigeria, Senegal, South Africa, Sudan, Tanzania, Uganda, Zambia, Zimbabwe and Zimbabwe.
Gabon is also a member of the Multilateral Investment Guarantee Agency (MIGA), which guarantees the security of foreign direct investment (FDI) in Gabon and other African Union (AU) and International Monetary Fund (IMF) countries. All legal entities and persons wishing to do business with Gabon must obtain prior authorisation from the Ministry of Economy and comply with the country's strict anti-money laundering laws and regulations.
In 2016, the authority ordered all cash and property purchases above a certain amount to be reported. In 2010, Gabon transformed itself into a sovereign wealth fund, known as the Sovereign wealth fund of the Gabonese Republic. If this approach to change and economic diversity were to be prioritised at regional level and established as a free zone for industrialisation that has not yet been exhausted, it could become a target of choice for investment. The country's National Economic Development Plan (NEDP), 2015-2025, aims to make Gabon an emerging economy by 2025, diversifying its economy and making Gabon an internationally competitive investment destination.
The 1998 Investment Code provides that foreign companies operating in Gabon have the same rights as domestic companies. Gabonese law treats foreign investors in trade agreements with their local partners in a similar way to their domestic counterparts, such as in the case of oil, gas, mining, oil and gas exploration and production, and exports of goods and services to other countries in Africa and the Middle East, Africa, Asia and Latin America. It can take advantage of a wide range of investment opportunities, from natural resources to tourism and infrastructure investment.
The Gabonese Government has committed to facilitate the creation of housing cooperatives through housing loans financed by public funds. Government participation in the real estate market, including legislative and institutional reforms, has facilitated the creation of new developers and attracted both local and international real estate investment in the country. The Presidency has taken a very active role in ensuring that investment is made in emerging markets such as Africa, Asia and Latin America. Moreover, the government and the private sector are working hard to address housing and real estate problems, including land rights reform. With the 2012 African Cup of Nations being held in Gabon and the biggest football tournament in Gabon's history due to take place later this year, this will further boost the property market.
The national land register will be maintained and expanded, and land and real estate development projects will accompany the development of national infrastructure such as roads, railways, ports, airports and other infrastructure.
The main areas are Battery IV Lalala, located in the Louis district, known for its nightlife, and La Sabliere, a popular residential area, especially for families. Tahiti has more apartments than houses, making it a great place for families. Close to the beach there are pools, a number of restaurants and bars as well as a variety of shops and restaurants. Oloumi is the main industrial area, and business people move in and out, but there is no shortage of hotels, restaurants, bars and hotels in LaSablieres and other parts of the city.