A recently released report shows a positive development trend for the African property industry over the next period, looking at dynamics affecting the commercial, industrial and retail property sectors in key African markets.
The 2018 Africa report published by Cushman & Wakefield Excellerate (CWE) provides an overview of industry developments in Ghana, Nigeria, South Africa, Mauritius, Mozambique, Zimbabwe, Namibia, Zambia, Kenya and Tanzania.
The positive sentiment is based on the recovery of several economies and new policies regulating the industry, notably in markets like Ghana, Nigeria and Zimbabwe.
In Ghana, for example, government efforts have successfully triggered a renewed interest in business investments, with positive implications for economic growth and by extension good news for the developing property market, both in the commercial space and the residential sectors.
The CEW 2018 report outlines vital economic and political factors that influence future growth, revive stagnant markets, and provide optimistic prospects for non-oil based sectors such as technology and retail, specifically in the Western region.
Several African regions, West Africa included, continue to offer attractive prospects for investors and property stakeholders, which may evolve to become essential property hubs and landmark developments. It is evident in the new extensive urban developments in hubs like Accra, Ghana or Lagos, Nigeria.
Urbanisation remains the main driver of property market growth and building project uptake, combined with the market optimism, demographic potential, and returning business confidence.
The report concludes that, while African countries have faced their share of challenges and negativity, there are many markets and avenues worth exploring, with great potential for further development.
Read the full report: The Winds of Change – An African Perspective.
Find out more from the source: bizcommunity.com.
Mobus Properties Ltd. is a privately-held Ghanaian property investment, development, and management company focusing on commercial and residential property development.
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