Are you kind of interested in real estate investment in Africa but don’t know which countries are the best hotspot for such investment?
That’s why you landed here, I guessed.
But before listing out the African countries that have the best potential for real estate investment, I want to tell you that you’re actually making one of the best investment decisions in your business.
Because Africa countries are fast developing, and very small numbers of investors pay close attention to this, most people only think Africa is just a black people continent that breeds “scammers” and “corruption”.
Well, that’s a story for another day, but let’s talk about real estate investment in Africa.
While there exist many forms of long-term and short-term investments, some investments prove to be more viable than others. Over the past couple of years, real estate has been one of the most viable investment options in Africa and the world at large.
And just like most businesses, location plays a pretty important role in the growth of the business or otherwise. Certain destinations prove more profitable than others.
Bearing this in mind, I’ve decided to show you the most profitable African countries for real estate investment. More specifically, the 5 best African countries for real estate investment.
If you’ve been considering investing in real estate, then pay close attention as you’ll be gaining some insights on where to spread your net to catch lots of fishes. That being said, I think it’s time we get to it.
5 Best Countries for Real Estate Investment in Africa
This list is going to be in descending order. Check below, the top 5 countries for real estate investment in Africa:
#5. Mauritius
Mauritius is a small island country with lots of investment potentials. It’s a country on the rise – with rapid growth over the last couple of years and more opportunities lie beneath the crust of this seemingly small, yet beautiful country. Its capital, Port Louis is home to many tourist attractions in Africa.
With a population of less than 2 million, a huge potential for foreign investment awaits. But that’s not all you get. Perhaps the best part of it all is its multi-cultural, multi-ethnic, and multi-religious support. Or better still, the nice views, high rise buildings, and great recreational spots that have made this one of best countries to invest in.
Mauritius was also listed among the top 20 countries for business according to the World Bank. With a chunk of its GDP coming from tourism, a lot of gems settle for foreign investments. Foreigners are free to build and own properties with some added incentives. So you’re not only profiting from your investments, you’re also qualifying for extra benefits.
Investors qualify for permanent residency among other perks that come with investing in the beautiful island. It’s a win-win situation for you if you’ll be putting your money into properties in the “Continent Island”.
#4. Kenya
You can call them the giants of East Africa, you won’t be making a mistake. But attaining such a title wasn’t a fluke. Currently, Kenya is the fastest-growing economy in the continent, and among the fastest-growing in the world. Kenya is also home to top tech companies like Google, Coca-Cola, and more in Africa.
This shows the huge investment opportunities that await you, especially when it comes to Real estate investment in Africa.
In terms of technological advancement, Kenya seems to be making headway, leading the rest of the park. In years to come, we won’t be wrong to call Kenya the Tech Hub of Africa. It’s only a matter of time before it becomes a reality.
Kenya is shaping up nicely to be the next big economy in Africa. As an investor, you can take advantage of these opportunities that rest ahead. With lots of startups getting a head start from here, it would be wise to invest in real estate and other properties at this early stage.
Asides from being a technological powerhouse, Kenya’s tourism industry is quite profitable. With lots of wonderful sites and ever-growing infrastructure, the opportunities are limitless. The economy is built to support young businesses, retailers, and investors in general.
#3. Mozambique
Currently ranked as the second fastest-growing economy in Africa, Mozambique has seen great growth in the past few years. We can attribute this to favorable government policies, the presence of natural resources, and a growing population. The real estate industry is an untapped resource at the moment.
With the quick economic growth, Mozambique is open to all forms of investments especially in the area of properties and real estate. Mozambique is blessed with good infrastructure and lots of classy properties. Currently, these are enjoyed by the few industrial bodies, companies, and its small population.
That being said, the demand for these high-quality properties is expected to increase in the next couple of years. This is a huge indication for investors like you who are looking for the best countries for real estate investment in Africa. The quick-growing economy makes it even juicier.
Mozambique’s growth in the oil and gas sector has seen an influx of foreign investors. The government also plans on expanding the industrial power of its economy. All these are good signals as to what to expect. Ideally, we should see the building of newer facilities, properties, and infrastructures in the nearest future. You don’t want to miss out on this.
#2. Ghana
Right in West Africa, Ghana isn’t your best bet for any form of entrepreneurial activity. But in terms of investments, it stands out to be one of the best in the continent. The real estate sector in Ghana is still in its early days with huge potentials ahead. Obviously, the best time to invest is now, even though the room for expansion and growth is still wide open.
Economically, Ghana has grown consistently in the last decade. And such a trend is expected to continue seeing that it has good government policies that drive the growth of its small and stable economy. The same can be said about Ghana’s political and bi-lateral sectors. As compared to other surrounding nations, Ghana seems to be more welcoming to investors.
And with fewer political and social conflicts, it makes it more viable to invest in.
Owning a property in Ghana as a foreigner is hassle-free. Its capital, Accra, still begs for affordable housing and business structures. The constant increase in rural-urban migration translates to numerous opportunities.
Fields like technology, telecoms, finance, and manufacturing seem to be making a parabolic move. With these sectors opening up, we expect lots of expatriates and investors who would be seeking accommodation in the urban areas of the country.
#1. Nigeria
Nigeria has the biggest economy in Africa and is also blessed with numerous natural resources such as Gold, Crude oil, coal etc.
It is also the most populous black nation in the world, with a population count of over 200 million people. The investment opportunities in such a large economy are enormous. Though its economic power has trickled down in the last few years, the need for industrial, commercial, and residential property is still on the rise.
With an ever-increasing populace, and the government’s resolve to rejig (organize) the economy, lots of money-making opportunities lie in wait for real estate investors. This makes Nigeria the best ideal country for real estate investment in Africa.
The Federal Capital Territory, Abuja is a gold mine for properties as the area continues to grow in population.
RELATED: How to Become a Successful Real Estate Agent in Nigeria
Same can be said about Lagos which is home to major corporations, companies, and industries. And with startups willing to take their businesses to LAGOS, the “Center of Excellence”, the demand for housing is quite high.
In fact, Lagos Nigeria is the biggest city for investments (including real estate) in Africa.
Other cities are shaping up nicely to get attention from foreign investors and the likes, and this is an opportunity to invest now in some properties in Nigeria.
Which Country is the Best for Real Estate Investment in Africa?
Aligned above are some of the best countries for real estate investment in Africa. And with real estate being one of the best forms of long-term investments currently, it’ll be wise to make the move now.
Put your money where your mouth is: it could be the fastest growing economy of Kenya, the island nation of Mauritius, or even better, the biggest economy in Africa – Nigeria.
But one thing is that, you definitely need to do your homework before you partner with any real estate firm in these countries.
In our next blog post under this category, we will discuss the best few real estate firms in Nigeria and other countries to partner with, as a real estate investor.
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