Exploring the 'Real Estate in West Africa' unveils a landscape of opportunity amidst a population of 245 million. With an average income of $309 per person and a regional economic growth rate of 2.5% annually, the sector stands at the cusp of significant expansion. This article delves into the luxury real estate market in West Africa, revealing how economic forecasts and developmental aspirations are shaping its future. (more…)
Africa achieved a real GDP CAGR of 5.2% over 2005-2010, in comparison with 2.0% for Western Europe and 3.4% for the world. IMF expects a 5.5% CAGR for African real GDP over 2010-2015, in comparison with 1.9% in Western Europe and 4.5% for the world. This sustained and broad-based economic development has triggered an increasing need in the hospitality sector and has created investment opportunities. In fact, Africa, like other recently emerging markets, shows a significant deficit in terms of infrastructure. Most African countries lack hotels and long stay residential projects of international standards for commerce and leisure. The African continent suffers from an increasing imbalance of hotels supply and demand. As a result, key destinations in Africa are experiencing artificially high RevPAR and yield levels making it a rewarding sector for investment. (more…)
