It is no surprise that global state-owned investment funds, pension funds and private investors are increasing their asset allocations into African real estate.
This was revealed by PricewaterhouseCoopers, the professional services firm, at a recent property conference. International investors are on the hunt for safe, long term investments that will provide high yields.
Following the global financial crisis in 2007, real estate is now being pursued as a safer choice for investors. The “Africa Rising” narrative is attracting the attention of sovereign wealth funds.
This is great news for the local property market. Should foreign investors take the lead in making long term commitments to the continent this will undoubtedly boost the confidence of local property investors.
The much needed infrastructure development that could take place will create jobs and have spin-offs for other economic activity.
Statement issued by
David de Waal (CA(SA))
CEO Steeple – The Low Commission Estate Agents