Real estate has become one major sector that has witnessed mass growth over the years. In this guide, you will discover the best African countries to invest in real estate from anywhere in the world.
Real estate is defined as the land and any permanent structures, like a home, or improvements attached to the land, whether natural or artificial.
The revenue of real estate companies worldwide was valued at 9.5 billion U.S. dollars in 2021 and is predicted to increase in terms of CAGR by 4.8 per cent between 2021 and 2030, according to a report by Next Move Strategy.
With a growing demand for industrial and commercial infrastructure and the recovery of the global economy from the coronavirus (COVID-19) pandemic, by 2030, the size of the real estate market is expected to reach 14.6 billion U.S. dollars.
According to the source, other factors that are likely to impact the development of the market are the saturation of the residential real estate market in certain countries and cities, as well as the increased government spending on infrastructure development
Best African Countries to Invest in Real Estate 2024
There are various African countries with expanding real estate markets and welcoming investment policies. Some of the top African countries for real estate investments are listed below:
1. Ghana
With rising demand for residential and commercial buildings, Ghana’s real estate industry has been expanding quickly in recent years. To further stimulate the real estate market, the government is also making investments in infrastructural development.
2. Kenya
As a result of the rising demand for residential and commercial real estate, Kenya’s real estate market has been growing. Additionally, the government has put policies in place to promote foreign investment in the real estate market.
3. Morocco
Morocco’s real estate market has been growing steadily, with demand for residential and commercial properties increasing. The government has put laws into place to promote investment in the real estate industry, such as tax breaks for foreign investors.
4. Nigeria
Nigeria has one of the largest real estate markets in all of Africa with rising demand for residential and commercial properties.
To further stimulate the real estate market, the government is also making investments in infrastructural development.
5. South Africa
South Africa has a well-established real estate market, with demand for housing and commercial properties increasing. The government has also put in place measures to promote foreign investment in the real estate market.
When considering investing in real estate in any African country, it’s important to do thorough research and seek professional advice to ensure that you make an informed investment decision.
African Countries That Allow Foreigners To Buy Property
Foreigners are welcome to purchase property in many African nations, though certain restrictions may apply in each. The following list of African countries allows foreigners to purchase properties:
1. Morocco
There are no limitations on foreigners buying real estate in Morocco. Foreigners are permitted to own both commercial and residential real estate.
2. Egypt
Subject to certain limitations, Egypt permits foreigners to purchase real estate. Agribusiness land and real estate close to international borders are off-limits to foreigners.
3. Kenya
Kenya permits foreigners to own properties, subject to some limitations. In certain areas, such as coastal regions and wildlife reserves, foreigners are not permitted to own freehold title to land.
4. South Africa
With some limitations, South Africa permits foreigners to own real estate. Certain types of land, such as agricultural land and land in traditional villages, are off-limits to foreigners.
5. Ghana
Ghana allows foreigners to purchase property, subject to certain restrictions. Foreigners cannot own land in certain areas, such as the coastline and border regions.
It’s important to do thorough research and seek professional advice when considering buying property in any African country.
It’s also important to be aware of local laws and regulations regarding property ownership, taxes, and any restrictions that may apply to foreigners.
- Read Also: Invest and Earn Monthly in Nigeria
Cheapest Country to Buy Land in Africa
The cost of buying land in Africa can vary significantly depending on the country, the location within the country, and various other factors such as land use regulations, availability of infrastructure, and so on.
However, some countries in Africa are generally considered to have lower land prices compared to others.
In general, some of the countries in Africa with relatively low land prices include:
1. Ethiopia – Agricultural land is relatively cheap in Ethiopia, especially in rural areas.
2. Tanzania – The cost of land in Tanzania varies depending on location, but generally, it is affordable in many parts of the country.
3. Uganda – Land is relatively cheap in Uganda, especially outside urban areas.
4. Zambia – Land prices in Zambia can be relatively low, especially in rural areas.
5. Mozambique – Land prices in Mozambique can be affordable in some parts of the country.
It’s important to note that the cost of land in Africa can be affected by a variety of factors such as political stability, economic growth, and land ownership laws. So, it’s essential to do your research and consult with local experts before making any purchase decisions.
- Read Als: Tiles Business Profitability in Nigeria
What Countries are Investing in Africa
Several countries are investing in Africa, including:
1. China: China is one of the largest investors in Africa, with investments in infrastructure, mining, and manufacturing sectors.
2. United States: The US is also a significant investor in Africa, with investments in technology, energy, and financial sectors.
3. United Kingdom: The UK has a long history of investing in Africa, particularly in the energy and financial sectors.
4. France: France has a significant presence in Africa, with investments in the energy, transport, and telecommunications sectors.
5. Japan: Japan is investing in Africa in areas such as infrastructure, agriculture, and health care.
6. India: India is also investing in Africa, with investments in the energy, technology, and agriculture sectors.
7. Germany: Germany is investing in Africa, particularly in the energy and infrastructure sectors.
Other countries investing in Africa include South Korea, Turkey, Brazil, and the United Arab Emirates.
Research has it that China is now Africa’s biggest trading partner, with Sino-African trade topping $200 billion per year.
Over 10,000 Chinese firms are currently operating throughout the African continent, and the value of Chinese business there since 2005 amounts to more than $2 trillion, with $300 billion in current investments.
Read Also:
Profitable Gold Investment Strategies
Investment Opportunities in Nigeria
Benefits of Packaging for Brands
Conclusion: African Countries to Invest in Real Estate
Different countries are bound by their different ethics and beliefs while trying to invest in real estate in a particular country, it is important to check out these conventions to be on the safe side while investing
Legacy Benjamin is a serial SEO content writer with a half-decade of experience in the field of blogging. He is also a skilled business consultant, providing valuable insights to companies and individuals seeking growth and success. His expertise lies in crafting compelling and engaging content that captivates audiences and drives business results. For business deals, contact him