Real estate: Building the future of Africa - PwC (Report)

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Africa’s young population will drive the demand for real estate and different types of real estate. Across Africa there will be continued urbanisation, an expansion of current cities and the rise of new cities.

According to the World Bank, Africa’s median age was 19.7 years in 2012, and it is expected to increase to 25.4 years in 2050, making Africa the continent with the youngest population. The global megatrend relating to ageing populations and the consequent increase in the demand for retirement homes is therefore not expected to have a significant impact in Africa by 2020.

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Projections suggest that in 2015 the continent will have a population of 226 million aged between 15 and 24 years. This is expected to double by 2045. This young population will drive growth in the demand for housing. This may include new or emerging residential subsectors, for example student housing.

Africa is the world’s second-largest and second-most populous continent with 30.2 million km² or 20.4% of the total global land area. Mauritius is the most densely populated country on the continent with 639 people per km², while Namibia is the least densely populated with three people per km².3 The figure alongside shows the diversity of population density in Africa.

Real estate: Building the future of Africa – PwC

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Source: PwC: Building relationships, creating value