Africa Report 2015 - Real Estate Markets in a Continent of Growth and Opportunity: Knight Frank (Infographics & Report)

Table of Contents

  • Africa: The growth continent
  • The economies of Africa
  • Africa’s population growth
  • Africa’s megaprojects
  • Africa prime rent ranking
  • Africa commercial occupier guide
  • Country-specific analysis: 30 countries
  • Knight Frank in Africa

Read the full report below.


The Africa Report is a unique and market-leading publication which draws on the expertise of Knight Frank’s unrivalled network of property professionals in Africa.

The report presents a wealth of material highlighting the growth of Africa’s economies, cities and real estate markets. Detailed profiles are provided for 30 African countries, along with summaries of prime rents and yields in these markets.

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Report Highlights

Africa’s rapidly growing property markets are attracting increased interest from international investors, developers and occupiers.

  • By 2100, it is projected that nearly 40% of the world’s population will live in Africa
  • Over the next five years, 13 of the 20 fastest-growing economies in the world are forecast to be in Africa
  • Nigeria is now recognised as Africa’s largest economy, following a recalculation of its GDP in 2014
  • The rise of the urban middle class is encouraging modern retail development in many of the continent’s major cities
  • Prime office rents in Luanda, Angola, are among the highest in the world at US$150 per sq m per month

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The rapidly growing economies of Africa are catching the attention of increased numbers of property investors and corporate occupiers. Africa is no longer viewed as a region of long term economic distress, but is increasingly seen as a continent of opportunity.

Africa’s economic growth began to accelerate around the turn of the century, following several decades of economic stagnation. Since 2000, Africa has averaged growth of over 5% per annum, with the Sub-Saharan region averaging growth of close to 6%. The larger emerging economies of this region, such as Nigeria, Kenya, Angola and Ethiopia, have increasingly been the key drivers of the continent’s growth.

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Rising commodity prices have been an important factor behind Africa’s growth over the last 15 years, particularly in major oil-exporting countries such as Nigeria and Angola. However, Africa’s economic progress has derived from diverse sources and, according to McKinsey, the large majority of recent growth has come from non-commodity sectors. Underlining this, one of Africa’s fastest growing economies in recent years has been Ethiopia; a country with meagre mineral resources, whose growth has originated from industries such as manufacturing, agriculture and construction.

Nonetheless, the economic outlook for many African economies has been clouded by the steep fall in oil prices that started in the middle of 2014 and continued into 2015. The International Monetary Fund has revised downwards its GDP growth forecasts for Africa and now expects Sub-Saharan growth to be below 5% in 2015. The short term outlook for Nigeria, in particular, has weakened.

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Sub-Saharan GDP growth is forecast to move back above 5% in 2016, and to strengthen in subsequent years. This suggests that, as many African economies have diversified and reduced their dependency on commodities, the recent collapse in oil prices may have a less severe impact on Africa than historical commodity price downturns. With sectors such as telecommunications and financial services being increasingly important drivers of growth, Africa will maintain its position as one of the world’s fastest growing economic regions.

Africa Report 2015 – Real Estate Markets in a Continent of Growth and Opportunity: Knight Frank

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Source: Africa Report 2015 | Africa Property Market Investment 2015 | Knight Frank