When it comes to economic progress, Africa’s emerging market can no longer be ignored. In fact, it could be where the real opportunities are especially among fresh immigrants and investors. There are countless beautiful African cities that offer amazing places to live in because they offer security.

They also have an emerging market with numerous business and career prospects plus basic infrastructure with many attractions designed for recreation.

In addition to that, Africa promises warmth, friendliness, and hospitality; and the beauty of its people is likewise exceptional and incomparable.

Here are some basic and current facts about the real estate market in Africa;

• Kenya is currently dominating East African property developments due to its stability and numerous investment opportunities.
  
  The country’s infrastructure is likewise steadily improving as it witnessed the inauguration of a $540 million Garden City which is a mixed-use development by Actis.

• Old Mutual Property also invested $6.3 million for the Two Rivers Lifestyle Centre (TRLC) which is the holding company for the Two Rivers Mall.
  
  This project is being built on 10.2 acres of land which is part of the wide-expanse mixed-use project in the diplomatic blue zone neighborhoods of Runda and Gigiri. 

• Another thing that accounts for the impressive development in Kenya is the implementation of Real Estate Investment Trust (REIT’s) structure and tax dispensation for companies which indicates that the listed property market within the country has significantly developed in the past few years.
  
  This proves that Kenya is at the cutting edge for African listed real estate markets and more REIT’s are guaranteed to be listed on the Nairobi Stock Exchange in the coming years. 

• As a form of investment, affordable housing in Africa is still at its earliest stages but the opportunities to create investment vehicles are ever present.
  
  Africa’s housing sector is currently not delivering at the rate needed and it’s not serving the diversity of the market despite varying levels of affordability and credit access.
  
  The market is inhibited due to affordability which is determined by household income and level of household debt.

• For anyone who’s considering to invest in real estate in Africa, the most progressive countries to consider are; Nigeria, Kenya, Ethiopia, and Angola. Over the past years, the economy has likewise significantly improved for Tanzania, Ivory Coast, Rwanda, and Senegal. 

• One of the factors that drive the African real estate sector is the continent’s population boom. To date, Africa’s population stands at more than 1 billion and is expected to hit 2.4 billion within the coming years.
  
  This only implies that over the next decade, millions of Africans would need additional houses for their families. The same trend is likewise observed in the Asian real estate market (such as China and Malaysia) where population rise has been noted.

• It is important to have a local partner when investing in African real estate. In fact, the importance of having a local partner is probably greater in this continent than elsewhere in the world. Africa has 54 different countries with different legal systems accounting for the various modes of compliance to their systems.
  
  Furthermore, legal certainty can be a major issue in some countries which are politically unstable and this requires complex legal considerations in line with property ownership rights and even exit strategies.