Africa Property Buyer Reports
Countries Listed In Alphabetical Order
Ghana is a nation that offers an investor an unrivalled wealth of choice and potential, and a property investor considering this emerging market will likely be overwhelmed by the weight of opportunity for profit and gain.
But because the Ghanaian investment real estate sector is in its absolute infancy there are many critical factors that a property buyer must bear in mind before committing to purchase land or real estate; this is a guide to the property buying process in Ghana to assist foreign buyers.
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The one word that should spring to mind when contemplating Ghana for property investment is ‘potential’ because of all the emerging real estate markets in the world Ghana has one of the most exciting and as yet totally under-explored property sectors.
The investment opportunities that exist are even listed by the Ghana Investment Promotion Centre which is a government agency, and they include the development of residential property for local and overseas buyers together with the development of industrial and commercial property - the latter mainly focusing on the tourism sector in Ghana.
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The potential of Ghana across so many sectors is immeasurable, and with the government’s increased commitment to economic development through progressive change one of the most exciting sectors is the real estate market in Ghana. Property investors have massive potential for long term profits particularly from the tourism rental and second home buying market.
Although Ghana is unlikely to be top of many property buyers’ destination lists, it definitely deserves close inspection. Current obvious opportunities for profit many be limited but by understanding the government of Ghana’s developing policies and commitment to significant economic improvement one can quickly realize the scope for profit in the property market.
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The 2002 elections in Kenya brought a change of government and a change in Kenya’s fortunes. Property investors examining the emerging real estate market in Kenya can now see massive opportunity where once there was massive risk, and the profitability of investment made into the Kenyan property market in the past few years is now beginning to show.
The majority of property investment opportunities currently in existence are situated all along the stunning tropical Indian Ocean coastline or within the many game reserves Kenya is so famous for. There are a number of areas of the country considered untouchable, but very gradually even in these areas the corruption and crime is giving way to opportunity and growth.
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Of all the advice given to investors considering the booming Kenyan real estate market, the most pertinent is ‘employ a recommended lawyer to assist you with the entire investment property buying process in Kenya!’
An investor’s consulate or embassy in Kenya may be able to supply details of qualified and reputable law offices; if not it’s wise to take personal recommendation or to conduct a certain amount of due diligence on any company or individual you’re considering. And no property investor should make an offer to purchase or enter into any contact before getting expert legal guidance.
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Spot targeted property investment has been popular in the most desirable tourist destinations in Kenya for a number of years; even before many believed the economic and political climate to be stable and ‘safe’ enough for significant financial commitment to be made to Kenya.
Following on from the democratic ousting of the former president in 2002, Kenya’s economic fortunes have slowly but surely begun improving and now overseas investors are beginning to plough substantial funds into Kenya’s property sector. Investors have a growing confidence in Kenya now that the newly elected president has made a commitment to his people to promote Kenya to the wider world, encourage donor support and strengthen the country’s economy by rooting out corruption and targeting foreign direct investment for the creation of employment and business opportunities in Kenya.
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Because Morocco is such an exotic country offering genuine year round sunshine and is in such close proximity to the UK and the European mainland, it is an incredibly attractive country for a property investor to target.
The potential market an investor has to work with is very broad and the long term economic indicators in Morocco point to sustained fiscal growth over the long term. A property investor has immediate access to income in the form of rental returns from the tourism market in Morocco, and strong potential for long term property price growth as the Moroccan economy grows and overseas interest in holiday and retirement property in Morocco intensifies.
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There are many complexities to the property buying process in Morocco that an investor needs to be aware of before they even consider entering the market place.
But because of the desirability of property for sale in Morocco an investor should not be deterred from securing their ideal piece of real estate just because purchasing it can take many months and a great deal of paperwork!
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A number of French and Spanish property investors have already discovered the delights of Morocco; and because of the country’s unique position as the shortest haul exotic destination for Western Europeans, a growing international property investor interest is awakening in this stunning North African destination.
The property buying process in Morocco has improved in recent years creating more confidence in the whole sector, and as the Moroccan government are committed to preparing their economy for free trade with the US and EU, the long term prospects for Morocco’s emerging investment real estate market sector are very positive indeed.
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The impressive and substantial annual profits enjoyed by property investors and second homers in South Africa in recent years had a great deal to do with the weakness of the local currency.
Yet while the size of recent annual gains may be unsustainable over the long term, the attraction of the South African real estate market remains incredible strong for a number of key reasons.
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The property investment potential in South Africa is substantial with government investment incentives existing for real estate developers in the country’s major cities, taxation breaks available for investors and demand for property to rent and buy in South Africa increasing from overseas and domestic citizens.
Property investors already in the market have benefited from an impressive period of growth boosted in part by the disparity between the South African Rand and major first world currencies but also because now that South Africa is economically and politically stable it is an incredibly popular country to visit, retire to and purchase property in.
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The purchase process for real estate in South Africa is incredibly well regulated and property investors from overseas are even protected in their dealings with estate agents in South Africa as they have to be qualified and registered with the Estate Agents’ Board.
There are currently no significant restrictions applied to non-resident purchasers of real estate in South Africa and this guide details a typical purchase process for overseas investors.
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