The real estate sector is the largest asset class in the world. Yael Geffen, CEO of Lew Geffen Sotheby's International Realty writing in a Daily Maverick news report states that by the end of 2020, the global value of real estate had reached a record high of USD326. 5 trillion, making it more valuable than all global equities and debt securities combined – and almost four times greater than global GDP,” In an era of economic turbulence, with banks closing down, stocks crashing and several other economic threats, more people are recognizing that real estate is one of the assets that holds value over time.
Why participate in real estate in Africa?
According to a Businessday new report, the real estate sector in Africa is currently worth about $ 120 billion. This figure is just about 1% of the global real estate value. South Africa and Nigeria combined hold about $ 37 billion of this amount. There is averagely $ 1.2 billion available to spend yearly across Africa.
Being that Africa has the worlds youngest population, this means that there will be consistent demand for the supply of new housing units for decades, perhaps centuries.
Already, the housing shortage on the continent runs into millions.
For instance, in Nigeria, the housing shortage is estimated at anything between 5 and 10
million units. In South Africa and Kenya, it is above a million units respectively.
The need is large and there is room for growth.
Real estate is easily transferable across generations, hence real estate assets purchased by an individual or family today, can be inherited by the children and grandchildren thereby enabling a family to grow in wealth by ensuring that the next generation does not have to start from zero but has a foundation of assets to leverage and grow on.
Owning a house brings dignity, safety and security to homeowners and their families.
Real estate developments provide Support for families to get decent homes and help
create jobs and support communities to develop
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This product offers our members a low the entry cost for participating in real estate
“Property development changes the face of communities from ugly to beautiful. It brings order to the community and positively impacts people."
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Pick A Property
2.
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