Does the African Property Market Has Anything To Offer

B most investors have shied away from buying property on the African continent, due to the constant civil unrest and strife that seem to plague it. These unfavourable factors have been coupled with negative media content about Africa in the foreign press that often paints a gloomy picture of a place that has nothing good to offer. Believe it or not, construction and property investment have been major vehicles that the Diaspora has used to invest in Africa  Therefore, buying African property is a very attractive option when you consider the vast tourism and business potentials that the continent can also boast of. South Africa, Morocco, Egypt and Kenya are among a few o the proffered property markets. One of the biggest reasons to invest in Africa property is the outstanding value that you get for your money. As the cost of living is extremely low, foreign dollars can go a long way. In fact, it is very easy to live like royalty in Africa given the current rates of exchange for the currencies of most first world countries. Another very big draw for investors is the relatively inexpensive yet high quality of labour and materials that can be purchased for the development of housing projects. There is also a huge number of world-class facilities and related support industries that cater exclusively for the needs and wants of the business executive as well as the wealthy traveler. The property market in Africa is turning out to be a safe haven for investors in Africa. Rentals have for the past few years been going up quite steadily and as a result the property market has turned out to be one of the safest and profitable areas in the African continent. Property is getting good returns so much that unit trusts that are composed of almost entirely property investments have turned out to be the best performing ones. On country specifics, the Global property Guide has identified Kenya, South Africa, Tanzania, Gambia and Madagascar as the five most proffered property markets. But the real estate markets in some parts of Africa are definitely worth a second look.  In Africa, South Africa property is one of the most interesting investments available today for several reasons. Experts have attributed this to several reasons. Firstly this multi-ethnic cradle of civilization is located at the very tip of the African continent. Not only is a large part of the country surrounded by water but also the sub-tropical eastern coast is a haven for beach lovers and surfers alike that flock to its pristine white beaches and roaring surf. The climate changes dramatically in the northwestern part of the country where desert-like conditions are the norm. Regardless of the area South Africa is a stunning country with well-developed infrastructure and every modern amenity available including telecommunications, health services and information technologies. There is plenty of culture and history in South Africa and local and international developers are constantly adding to the list of luxury leisure resorts that it offers. The business community has actually voted South Africa as the best Business Tourism destination in the world. Added to the many international caliber services and facilities is an extraordinary natural environment which includes everything from wild animals, teeming ocean life, bountiful flora and rich jungles. There are tours and experiences for every taste ranging from safaris to deep-sea diving expeditions to relaxing golf getaways. With so much going for it, there is no wonder that Africa Property is becoming more and more attractive to investors looking for more than just a place to park their money. Cape Town also enjoys moderate transaction cost and strong rental market with economy. On Kenya, experts say the country has good pro-land rental market and there are moderate yields in Nairobi though her rental income tax as high, pitched at 30 per cent. In Tanzania, Dar es Salaam, there are high yields in main centers and a pro-land of rental markets. Gambia, Banjul and Madagascar, Antananarivo also has moderate and good platforms, not to mention the enormous potentials in other parts of the continent. All you need to do is to invest in the African property markets to unravel such mysteries. By Hannah Owusu Boamah, PE Online Editor