Real Estate in Africa grows by 7% in a year

tony nguyen

With the recent news that economic growth in Africa is expected to surpass 7% this year, property developers throughout the world are turning their attention to the investment opportunities this presents.

The continent has a land mass of over 30.3 million square kilometres, and there are a number of reasons why this size, allied to a few key factors, is one of the reasons why it is becoming such an increasingly attractive area for property investors.

1. Growing population: The African continent has comfortably the fastest growing population in the world. Some estimates expect it to reach 1 billion over the next 5-6 years. There are more than 52 African cities with over 1 million people, and sub – Saharan Africa has a rapidly emerging middle class population. All of this points to a vast potential for property development as the continent grows and the demand for homes increases alongside it.

2. Political and economic reform: Throughout the last century, a number of areas in Africa have been viewed as dangerously destabilised due to political corruption and basic economic problems. There is mounting evidence that this is changing though. Outside investment and a growing awareness of how the rest of the world perceives them has forced a number of countries into getting their act together. Strong and sustainable political and economic reform are a huge part of this.

3. Economic growth: The economic growth of countries such as Kenya, Ghana, South Africa and Nigeria has gained praise from leading quarters throughout the world. These countries in particular are felt to embody a changing continent and are seen as the primary targets for property investment.

Transfer Money to Ghana

Are you looking to invest in Ghana? It is probably a sensible idea to think carefully about how you will be transferring money to Ghana. Most foreign currency exchange rates quoted by banks are worse than the exchange rates available through specialist currency dealers.

So if you are sending money to Ghana – which you will need to do if you’re looking to make a property investment, be sure to compare the market before you buy your overseas currency.

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Africa emerges as key player on the property development scene

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