Africa Angola Economy Real Estate

Angola reduces by 50 percent price of land plot

The prices of land plot made available by the Angolan State, which in 2015 cost 90 and 214 US dollars per square meter, have been reduced to 50 percent lower (USD 45 and 107), due to the loss of purchase power of the citizens, Angop learnt on Saturday.

In the face of the current economic crisis that has plagued the country and the subsequent loss of purchase power of the citizens, prices of land plot have been revised and reduced by 50 percent, said the CEO of the Organized Land Management Company (EGTI, E.P.), Pedro Cristôvão.

Speaking to ANGOP, the EGTI CEO underscored that the prices set for land plot in 2015, still in force to date, do not fit in the current economic reality of the country, taking into consideration the constant variation in the foreign exchange rate and devaluation of the local currency.

Source: Angop

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