Here are the guidelines for buying home in Africa (African Real Estate)
Nowadays, exploring new places to live and traveling to beautiful destinations has become desirable, especially Africa with its fascinating living standards and enchanting destinations that the world can see through social media and those experiences that people have from The Return of Year Ghana. People are not just visiting Africa for holidays but are so inspired to start living there forever. African Americans have started working abroad to gain opportunities for a greater lifestyle outside of the United States.
If you are one of them who wants to settle abroad permanently, then you must be keen to invest in real estate. The main factor in the growth of real estate development in big cities is the increasing population. The stats published by the United Nations makes it more clear that Africa is surely going to be a dream destination to live. The projected stats are
- By 2100 Africa’s population would be 4 billion, and solely 1 billion of this population would live in Nigeria.
- Back in 2015, 42% was urban in Africa, and by 2050 this figure would increase up to 62%, which is a massive development.
People may think Africa has an inferior and unstable continent because of its misinterpretation through media coverages and news channels. Faye Tillery, a blogger and an entrepreneur advisor of Black Enterprise for real estate investors, shared his experience buying a property in Africa. He says, “People tend to think that buying a property in Africa is inexpensive. Someone contacted me and asked if a luxurious and attractive house located in Nairobi, Kenya costs $3,000. The price that he quoted for buying the house was just the monthly rent of that house. Buying property in Africa is not as expensive as in the Western world but at the same time not as inexpensive as you might think”.
Like Faye, others are also working through news media to bring the reality of African Real estate to the world. The real homes of Africa, a television show, is such an initiative taken by Aliya Mahdi. An entrepreneur in the real estate business to show the viewer some of the beautiful homes in Senegal.
In Mahdi’s conversation with Black Enterprise, she said: “The show will showcase the idea of bringing people back to their country in Senegal. As it will be presenting homes for sale that are developed by local builders and are owned by locals, to let the viewers visualize the interiors, furnishing and modern houses in Africa”.
“The show will provide a better understanding for its viewer the way living in Africa feels like in the present as they will be seeing stylish, elegant and reasonable prices of the houses for a personal buyer or an investor. The series will portray the modern lifestyle in Africa”.
“For investment purposes in Alkebulan, she also proposed some great advice with facts and figures to keep an eye on before buying a property in Senegal. She added that “The property in Senegal is not on a lease when you buy it is all yours. The price range of land in Alkebulan falls between $2,000 to $10,000, and people are rushing towards buying as of increasing demand.”
Talking to Black Enterprise, she added, “Some people choose to buy homes that are ready which may require advance payment in some cases and also offer other payment plans such plans may want you to pay at least $5,000.”
Tillery advises that “One should not be in a hurry to buy a property just after a single visit, people should pay close attention while paying visits to countries of interest and look for the most suitable locality for themselves. Once you are done with your search, appoint a trustworthy real estate agent and from the reference of your friends hire a good lawyer as according to the law of some countries they don’t allow immigrants to buy the property.”