Tag Archives: residential real estate
residential real estate: Latest News
Kurt Davis Jr., 11:08 am AFKI Original
The economic downturn did little to stifle demand for African real estate. Some of the biggest returns and opportunities exist in rental properties, from beachfront getaways to hidden villas. Affordable housing is a major challenge for governments. Private investment is seen as a solution. Developers, private investors, and ordinary people can play a role in addressing the construction gap in the real estate sector and make a good return while doing so.
Dana Sanchez, 10:18 am AFKI Original
Real estate companies are struggling with rising vacancies and unpaid rents in South Africa, and rent is relatively cheap. Rents compare favorably with similar properties around the world. There are extra costs you should be aware of. In a South African rental home, you may have to maintain the garden and hire a gardener — around $12 a day plus breakfast and lunch. A live-in maid might be part of the rental contract and that will cost around $154 a month.
Dana Sanchez, 4:08 pm
Nigeria has a housing deficit of 17 million units, but most investors in Nigerian real estate prefer commercial rather than residential development, BusinessDayOnline reports. South African investors have been visible in most sectors of the Nigerian economy for the last decade. Right now, they’re all over retail mall development. “We are not discouraged by anything,” said Dieter Boshoff, leasing adviser for South African developer RMB Westport.
Dana Sanchez, 2:42 pm
While individual private investors focus on residential developments, institutional investors are buying commercial real estate In Nairobi. Kenya has just 20,000 mortgages but that hasn’t stopped locals from buying and investing in real estate. Most use alternative financing sources like savings and credit coops and investment groups. “Kenyans love real estate,” a local Realtor says.
- Real Estate