Urbanization and population growth fuel African real estate

Two Rivers, Nairobi, Kenya (Illustration)

With Africa’s population set to quadruple by 2100 and economic growth still strong across many countries demand for good quality real estate is on the rise, according to a new report by global property consultant Knight Frank.

At these rates of growth, 40 percent of the world’s population would live in Africa by 2100. Populations of many of the continent’s fast growing cities including the capitals of Tanzania, Zambia, Uganda and Angola are expected to at least double by 2025.

“These major long-term trends are driving the construction of high quality real estate across the continent,” says Matthew Colbourne, international research associate at Knight Frank.

“Large volumes of good quality commercial and residential property are needed to support the continuing African growth story, presenting excellent opportunities for global funds looking to diversify or enter into African markets.”.

Read more: Under construction: Urbanisation, population growth fuel African real estate – News – This is Africa.