Cost of Living in The Gambia in 2023 - A Budget Guide for Expats and Investors

Blue Ocean Properties has been specializing in property in The Gambia for over 10 years, I'm often asked about the cost of living in this tropical paradise. While still affordable, The Gambia has seen rising costs over recent years. Here's an insider's guide to living affordably as an expat or investor in The Gambia in 2023.

Comparing the Cost of Living from the UK to The Gambia in 2023

Our agency provides detailed cost of living comparisons between the UK and Gambia. On average, consumer prices in The Gambia are 55-60% lower compared to the UK in 2023. Food is 59% cheaper - 1 kg of flour is 56% less expensive, eggs are 50% cheaper, and rice is 64% less. Drinks range from 22-70% lower cost - milk is 29% less, beer is 70% cheaper. Transportation is 73% more affordable - fuel is 53% cheaper, and buying a car is 92% less. Things like clothing, entertainment, a pack of 20 cigarettes and childcare are over 50% cheaper too. For British expats and investors, the spending power of your pounds goes much further in The Gambia. You get excellent value for money on daily expenses like food, housing, and transportation.

House Prices and Rents in The Gambia in 2023

In prime beachfront areas of Banjul like Kotu, Fajara and Kololi, rents for a 3-bedroom expatriate home range from $1,000-$2,000 per month. Buying a similar high-end seaside property costs $250,000-$500,000. Further inland from the coast in areas like Serekunda, Brikama and Bakau, rents drop to $500-$800 for spacious homes. Real estate along the coast and in the Greater Banjul Area keeps rising in value, while inland regions remain more stable. For UK buyers and renters, housing costs a fraction of British prices. Our agency Blue Ocean Properties specializes in marketing and selling high-quality residential estates in prime locations within the Kombo District. Our mission is to provide affordable, exemplary homes and valuable real estate advice to investors and expats from the start.

Everyday Expenses in Banjul, The Gambia in 2023

Daily expenses in Banjul, The Gambia are quite reasonable compared to the UK in 2023. Local taxis charge set rates approved by the government - it's around $3-5 for trips within metropolitan Banjul. Bush taxis for intercity trips run $10-$20. Petrol is sold at around $1 per litre, much less than in the UK. Basic local food like rice, fish, and chicken is very cheap at $2-$5 a plate, but imported foods cost more. Utility bills are $150-$300 for larger homes - water, electricity, etc., plus domestic household help averages $250-$500 monthly for full-time maids and guards. Overall, daily costs for food, taxis, petrol, and utilities are substantially lower than in Britain.

Education Costs in The Gambia in 2023

International schools in The Gambia average $5,000-$10,000 a year for tuition fees in 2023. Top schools like the American International School of Banjul run over $15,000 annually. Local private Gambian schools are much cheaper, from $500-$2,000 total per year. Tertiary education has limited options - the University of The Gambia costs under $1,000 per year for Gambian nationals, and more for international students. Compared to UK private schools and universities, education costs are very low in The Gambia.

Real Estate Investment in Banjul, The Gambia in 2023

The Gambia presents profitable real estate investment opportunities for British investors in 2023. Demand for high-quality homes and touristic developments remains strong while property costs are low compared to the UK. However, beware of risks like lack of title deeds for land purchased from local chiefs. Consult reputable real estate agencies like Blue Ocean Properties to make informed investments in Gambian real estate. With expert guidance, investors and expatriates can maximize returns while enjoying an affordable, high-quality lifestyle in Banjul, The Gambia.

Why Choose Blue Ocean?

Here at Blue Ocean Properties, we are a real estate company that specialises in property development in The Gambia. We maintain a full-time team of well-trained Gambian real estate professionals who are highly skilled and dedicated to our services. We aim to establish long-term relationships with our clients by prioritising their needs. Therefore, whether you are a professional seeking temporary accommodation, a family seeking a home or anything in between, Blue Ocean Properties can provide you with a solution. 

Please don’t hesitate to contact us!