Real Estate: Latest News
Julia Austin, 1:22 pm AFKI Original
A byword for luxury, the Serena brand offers an opulent experience at the Serengeti safari lodge inside the national park. Based on traditional tribal design, the huts melt into the landscape. Once you’ve had your fill of safaris and fossils at the nearby Ol Duvai archaeological site, you can relax at the vanishing pool and gaze out on the endless Serengeti plains.
Dana Sanchez, 12:04 pm
The Chinese have entered many sectors of the economy under Zimbabwe’s Look East policy, but until recently avoided white-owned farms liberated by Mugabe. Chinese are now investing in tobacco production, growing it on formerly white-owned farms, and paying rent to landowners who were given farms seized by Zimbabwe’s ruling Zanu-PF. Mugabe’s disastrous land reforms caused agricultural production to nosedive. Now there are plenty of jobs in the tobacco-growing district, a worker said.
Kurt Davis Jr., 8:52 am AFKI Original
Many Kenyans worry a crash may be coming. Bubble advocates stress the near-30 percent annual growth rate in real estate since 2011, but occupancy rates are stable and high at 90 percent. Residential housing demand has always outpaced supply, particularly in lower- to middle-income segments of the market. The reality is most housing constructed in Kenya in the last five years is unaffordable to most Kenyans. Less than 10 percent can afford a mortgage. A local land price index shows that land and property returns in Kenya are outperforming treasury bills, bonds and stocks.
Kevin Mwanza, 8:55 am
China Wu Yi, a leading Chinese construction and engineering company, is set to make an unprecedented profit of $85 million from upgrading a 25 kilometer stretch of road, the company revealed in a statement to its directors. The revelation explains in part why many Chinese companies are scrambling for projects in Africa. The profits China Wu Yi expects are over 100 percent of the estimated projects cost and more than the international net margins of about two percent for similar projects
Dana Sanchez, 2:17 pm
Despite doom-and-gloom predictions by economists, this bit of good news for South Africa’s economy augments recent reports that South Africa regained its place as the continent’s biggest economy. Economic growth in the second quarter helped the country escape a predicted recession for the second time in seven years. The surprisingly strong growth mostly reflects a bounce back following the disaster of Q1, an economist said. Few expect the growth to be sustained.
Kevin Mwanza, 5:10 am
A cheap electricity deal that attracted Africa’s richest man to set up a cement plant in Ethiopia could have a big impact on the cement market in East Africa as the Adaberga wereda-based plant start exporting cement at almost 40 percent less than regional manufacturers. To attract Dangote to the East African country, the government offered to supply his company with electricity at a discounted rate
Keren Mikva, 11:27 am AFKI Original
When the landmark home of the late Dr. Johnny Mosendane — a well known South African figure — sold for 2.5 million rand ($172,484) — it was a record for Soweto residential real estate. This marked a change in the market. More and more suburban Johannesburg residents seek to move back to Soweto. There’s a pent-up desire to return to the vibrancy of the area, and Soweto real estate prices have begun to reflect this.
Dana Sanchez, 3:20 pm AFKI Original
It is possible to monetize being multicultural. Ghana-born entrepreneur Roberta Annan is proof. Part of a family of diplomats, Annan has lived and worked since her teenage years in Asia, Africa, Europe and the U.S., learning along the way to blend cultures to build successful businesses. At 33, Annan is an impact investor, global development consultant and fashion entrepreneur. She advises wealthy people on how to invest in Africa. Anna spoke to AFKInsider about how exposure to different cultures helps young African entrepreneurs improve their businesses in Africa.
Dana Sanchez, 11:38 am
Occupancy at the Victoria Island hotel and casino fell to 42 percent. Sun International isn’t the first South African company to clash with Nigerian authorities. Telecoms group MTN got a record-breaking multi-billion dollar fine. Nigeria is already in recession and it’s going to last a long time, an economist predicts. This month, South Africa reclaimed from Nigeria the title of Africa’s biggest economy due to appreciation of the rand and devaluation of the naira.
Julia Austin, 6:06 pm AFKI Original
A quick look at one of the Realtor sites specializing in wine farms will show you that the lowest price for a Stellenbosch wine farm is around $1.6 million. Some properties have stuck to the old Cape Dutch style architecture of centuries ago. Others combine modern, state-of-the-art architecture with breathtaking natural landscapes. One such property is a mixed-use farm with an all-glass front overlooking Gordon’s Bay.
- Real Estate