Buying property in Madagascar is an exciting project, provided you understand the transaction process. Here are the main steps to help you proceed smoothly and avoid unpleasant surprises.
1. Define your project and your budget
Whether it's your primary residence, a vacation home, or a rental investment, your objective will determine the area, the type of property, and your budget. Remember to factor in additional costs (fees, notary fees, registration fees, and any potential renovations).
2. Visit and compare
Visit several properties at different times of day and ask all your questions: access, water, electricity, neighborhood, overall condition of the building. Local support saves you valuable time.
3. Check the legal status of the property
This is the most important step. Before making any commitment, you must verify the owner's identity, the nature of the title (land title or other document), the absence of any disputes or mortgages, and the property's compliance with regulations. Seek the assistance of a notary or a real estate law professional.
4. Negotiate and sign the preliminary contract
Once the price is agreed upon, a preliminary contract (promise or agreement of sale) sets out the terms of the sale: price, deadlines, and conditions precedent. Read it carefully and do not pay any deposit without a written document.
5. Sign the final deed and register
The sale is finalized before a notary. The deed is then registered, and the transfer of ownership is recorded with the relevant authorities. Keep all documents safe.
Our tips in brief
- Never commit to anything without verifying the title of ownership.
- Go through a notary to secure the transaction.
- Since the rules applicable to foreign buyers are specific, find out more before making a decision (see our "Useful Information" pages).
- Get support from a trusted agency.
Are you planning to buy a property? Contact the Aloha Immo Services team: we will support you every step of the way.
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