How to Buy a Property in Africa: A Beginners Guide

Buying a property in Africa is a great way to invest in the region’s growing real estate market. According to the African Real Estate Development Report and VI Real Estate, the continent’s real estate market is expected to grow from USD $221 billion in 2016 to USD $1.1 trillion by 2022. The market’s steady growth and demand for property as an asset class makes Africa an attractive market for investors. However, buying a property in Africa comes with its fair share of challenges. In this guide, we’ll answer common questions about buying a property in Africa.

What type of property can I buy in Africa?

There are a few different property types you can buy in Africa. These include villas, apartments, commercial properties, and land.

How to buy a property in Africa

There are a few different ways to purchase a property in Africa. These include: buying a plot of land, buying an existing property, or buying a freehold property. Buying a plot of land can be a great option for investors who want to buy a long-term investment property. However, it’s important to note that you can’t sell a plot of land in Africa as an investment. When you buy a plot of land, you take ownership of the entire plot. You can’t buy an apartment in Africa and rent out the extra rooms, for example.

Which country is best to buy a property in Africa?

While most people think of buying a property in a developing country like Nigeria, there are a number of advantages to buying a property in a more urbanized country. These include the stability of a home country, as well as the ability to sell your home if you want to move to another country in Africa or the rest of the world.

Some of the more popular property buying countries in Africa include Egypt, Morocco, South Africa, and Tunisia.

Can I invest in real estate outside of Africa?

Yes, you can invest in real estate outside of Africa. However, due to the increasing popularity of the market, there are fewer opportunities to buy real estate outside of the continent. Furthermore, there are fewer opportunities to buy real estate outside of Africa when compared to the late 2000s and early 2010s.

At the moment, the most popular areas for real estate investment outside of Africa include Brazil and the United States.

Where can I find a reliable real estate agent in Africa?

Your best bet is to find a real estate agent who has experience in buying and selling real estate in Africa. Ideally, you want an agent with experience in both buying and selling properties in your desired country. It’s important to find an agent who can answer your questions and help you navigate the process of buying a property in Africa.

You can also try searching online for real estate agents in your desired country. A number of websites list reliable real estate agents in Africa and provide detailed information about their backgrounds.

Saving for a deposit

It’s important to have a savings account or investment account that you regularly contribute to with funds that you can tap into when you’re ready to make a real estate purchase in Africa.

When you’re saving for a deposit, consider opening a separate account that you reserve exclusively for real estate purchases. This way, you won’t accidentally spend funds from your main bank account on other things.

Conclusion

Buying a property in Africa is a great way to invest in the region’s growing real estate market. However, buying a property in Africa comes with its fair share of challenges. In this guide, we’ll answer common questions about buying a property in Africa.

Your best bet is to find a real estate agent who has experience in buying and selling real estate in Africa. Ideally, you want an agent with experience in both buying and selling properties in your desired country. It’s important to find an agent who can answer your questions and help you navigate the process of buying a property in Africa.

Saving for a deposit is essential when you’re buying a property in Africa. Finally, remember to keep your money in a region that doesn’t experience currency fluctuations.