NIGERIA: THE REAL ESTATE SECTOR MAY BE A NEW SOLUTION TO NIGERIA’S ECONOMIC RECESSION
The Nigerian Institution of Estate Surveyors and Valuers (NIESV) in a recent press conference disclosed that real estate might be the new solution to reviving the economy of Nigeria. Real estate will give the country the life and economic independence it once had. Nigeria is in and out of recession as a result of its […]
NIGERIA – AFFORDABLE LUXURY REAL ESTATE IN NIGERIA TRIGGERS AN UNEXPECTED CHANGE IN DEMAND
Real estate practitioners have high hopes in Nigeria’s real estate, as the luxury segment of the market is showing a slight recovery with significant lifestyle changes in work, home, and play patterns. Prices of luxury properties have climbed steadily over the last few months in the luxury markets in major cities such as Lagos and […]
Botswana- Property Market Grows Despite The Effect Of The Covid 19 Pandemic
The Botswana property market was predicted to expect a fall, especially properties within the range of P850,000 to P1.3Million. Recently, stakeholders affirmed that the Botswana real estate market is as healthy as it can get – despite the effect of the global pandemic, the market remains stable and healthy after surviving two lockdown periods in […]
South Africa – Real Estate Market Set to Experience a Revitalization in 2021.
South Africa’s residential real estate market is the largest component of the South African property market, comprising most property assets within the country. Despite the economic and political turmoil faced by the country in 2019, followed by a pandemic-plagued 2020, many signs point to the fact that the South African property market will experience a […]
Namibia – interest rate better than in prior years
Maria Esterhuysen, MD for Seeff Namibia says they have seen some buyer caution but with the interest rate better than in prior years, it is a great incentive to buy and there is plenty of stock and sellers willing to negotiate. In the Walvis Bay area, we are seeing high demand in the N$800 […]
Mauritius – rise in South Africans looking to move or invest
Severine Dalais-Pietersen, marketing executive of Seeff Mauritius says property hit a halt during the lockdown but there has been improvement since the lifting on the 1st of June. Requests from South Africans willing to move or invest in Mauritius are increasing, but they are waiting until they can fly or visit before committing. Other […]
Zimbabwe–high-interest rate, low liquidity, and cash-dependent
Patience Patongamwoyo, licensee for Seeff Zimbabwe says the economic challenges which existed prior to the pandemic such as high unemployment, a high-interest rate (35%) and low liquidity persist. Hence, the market remains dominated by cash, generally driven by diaspora Zimbabweans investing mainly in entry-level properties along with a few buyers from the mortgage market and […]
Zambia – businesses closing in malls resulting in high vacancies, many empty buildings
Lusungu Kayela, Seeff’s principal in Zambia says the market is feeling the effects of the pandemic in numerous ways. Malls are closing, vacancy rates are rising and there are many unoccupied buildings. Residential rentals have seen similar trends to South Africa with tenant payments strained and landlords needing to accommodate where they can. Many middle […]
ESWATINI – Now In A Super Buyer’s Market, Especially At The High End Of The Price Spectrum
Literally, every sales transaction was halted or cancelled when the pandemic struck, and while we have salvaged some, many sizeable transactions are lost, comments Anthony Mcguire, licensee for Seeff eSwatini. eSwatini is now a super buyer’s market for various reasons and sellers need to be cognisant of price as even the “traditional” buyers in the […]
Botswana (Foreign Buyer Transfer Increased)
BOTSWANA – FOREIGN BUYER TRANSFER DUTY UPPED TO 30% FURTHER HAMPERS RECOVERY While Botswana experienced two lockdown periods (6-weeks in March to May and a further 2-weeks in June), Julie Denyer, a director for Seeff Botswana, says the Transfer Duty Act Amendment of 2019, effective from the 1st March has exasperated the situation. It introduced […]