#SABC: “SABC News – Africas Prime real estate markets record mixed performances :Thursday 6 April 2017”
Africa’s Prime actual property markets have recorded blended performances within the final two years, because the continent readjusts to a decline in world commodity costs in response to 2016’s Knight Frank Africa report.
In keeping with information within the worldwide actual property consultants’ report launched in Nairobi on Wednesday, actual property demand from oil corporations and related companies sector has fallen in all African pushed economies.
Francophone international locations are, nevertheless, having fun with elevated tenant demand from rising center lessons.
The Angolan capital Luanda is the worst hit, cities like Cape City is among the many most steady places, whereas Nairobi is at present probably the most wanted location.
The report paints a constructive outlook for Sub Saharan Africa’s actual property markets.
It signifies rising quantity of capital is now focused on the area’s property sector.
Like all sectors of the continent’s economic system a dip in commodity costs is being mirrored in Africa’s actual property markets, in response to this yr’s Knight Frank Africa report.
The Angolan capital Luanda is the costliest prime workplace location at $80 per sq. meter per thirty days, adopted by Lagos at $67 and N’Djamena in Chad at $55 per sq. meter per thirty days.
Kenya in response to the report is quick rising as a hub for actual property traders.