12 °c
London
Monday, January 30, 2023
No Result
View All Result
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Angola

Real Estate Market Transparency Improves in Sub-Saharan Africa

FurtherAfrica by FurtherAfrica
November 16, 2016
in Angola, Botswana, Ghana, Kenya, Mauritius, Mozambique, Nigeria, Real Estate, Rwanda, Zambia
Reading Time: 2 mins read
876 9
0
Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

Sub-Saharan Africa (SSA) has continued to make advances in real estate transparency over the last two years according to a new report authored by real estate management company Jones Lang LaSalle (JLL). Access to information and technology are some of the factors that have driven transparency by making it easier to access real estate information. An open legislative, regulatory, and operating environment of the region’s real estate sector has also contributed to its transparency ranking.

South Africa is leading the list of 15 SSA countries with a composite rank of 25 on the 2016 Global Real Estate Transparency Index (GRETI).

The report, titled “Sub-Saharan Africa Makes Progress in Real Estate Transparency,” states that “South Africa remains SSA’ s most transparent market, supported by an active listed sector. It is the only country to feature in the ‘transparent’ category, although it has struggled to maintain its global ranking in the last couple of years.”

Several SSA countries are considered semi-transparent, including Botswana, Zambia, Mauritius, and Kenya. Their GRETI ranks are 41, 57, 58, and 61 respectively. While Kenya has maintained its semi-transparent category, the other three countries have moved up due to their robust regulatory and market governance frameworks.

“These three countries also represent greater involvement from international real estate consultancies, developers, and investors who are promoting professional standards and availability of data.”

Technology

Technology has accelerated the transparency of Rwanda, Ghana, and Kenya by introducing faster access of real estate information and reliability of services. In Rwanda, there are one-stop online centers for real estate permit applications. The Bitland development platform is a technological tool that digitizes land registration for Ghanaians in the town of Kumasi.

Similarly in Kenya, the digitization of land records in the country has hastened the payment of rates and stamp duty, thus reducing the red tape. Since last year, the country has also listed property on the Nairobi Securities Exchange through the Real Estate Investment Index (I-REIT).

The report acknowledges that other countries have made an effort to be transparent regarding their real estate, including Tanzania through its 2015 Introduction of Estate Agency Bill, which aims to regulate the real estate sector.

Lack of Transparency

There are some countries struggling to develop real estate transparency due to the slump in global commodity prices. Since 2014, investors have shied away from Nigeria, Angola, and Mozambique where regulators are unable to facilitate the transfer of funds required to buy, rent, and sell property. Transparency of real estate information has been difficult, especially in Nigeria and Angola. In Mozambique, the power struggle between the Frelimo and Renamo political parties has also adversely affected its transparency.

Overall, improvements in real estate market transparency in SSA will take place once more regulatory oversight and enforcement is done in countries such as Kenya and Nigeria. Future provision of reliable information by local communities, the private sector, governments, and international organizations can also make a difference.

Source: Face2Face Africa

Related

Tags: AngolaBotswanaGlobal Real Estate Transparency IndexGRETIJLLJones Lang LaSalleKenyaland recordsMauritiusMozambiqueNigeriaReal Estatesub-Saharan AfricatransparencyZambia
ScanSendShare354Tweet221Share62Pin80Send
FurtherAfrica

FurtherAfrica

Founded in 2015 FurtherAfrica is an online platform centralising news and content focusing on the development and growth story of the African continent.

Related Posts

Energy

Invictus updates on Cabora Bassa Basin operations in Zimbabwe

by Energy Capital & Power
January 30, 2023
Africa Data Centres investing US$500M for the development of 10 data centers across Africa
Tech

Raxio to launch data center in Angola early 2024

by Energy Capital & Power
January 30, 2023
Russia’s VTB says in talks to prolong Angola’s $1.5 billion loan to 10 years
Trade

First fertilizer shipment from Russian for Africa arrives in Mozambique

by Club of Mozambique
January 30, 2023
Travel

Celebrities visiting Kenya in January

by See Africa Today
January 28, 2023
Travel

Victoria Falls Devil’s Pool – Thrilling or Dangerous?

by See Africa Today
January 28, 2023
Platform Africa 2023
 
Mozambique eVisa
 
MozParks
 

Translate this page

Read the Latest

Energy

Italy’s Eni signs US$8B gas deal with Libya

by FurtherAfrica
January 30, 2023
0

Italian energy company Eni (ENI.MI) and Libya's National Oil Corporation (NOC) have signed an $8 billion gas production deal, Eni's...

Read more

Green energy transition must be sensible pragmatic and rational – Afreximbank’s Rene Awambeng

January 30, 2023

Invictus updates on Cabora Bassa Basin operations in Zimbabwe

January 30, 2023
Africa Data Centres investing US$500M for the development of 10 data centers across Africa

Raxio to launch data center in Angola early 2024

January 30, 2023

IFAD and AfDB on a mission to boost agricultural productivity in Africa

January 30, 2023

FurtherAfrica Partners Network

The Exchange Club of Mozambique Taarifa Rwanda
TechGist Africa Africa Oil & Power Farmers Review Africa
Tanzania Invest Zambia Invest See Africa Today
Africa Global Funds Novafrica CrudeMix Africa
Harambee Africa Botswana unplugged Financial Insights Zambia
O Económico Digilogic Africa Web3Africa

Subscribe to FurtherAfrica

Enter your email address to receive new articles on your email.

Join 99,623 other subscribers.
FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

© 2021 FurtherMarkets

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?