- Africa’s economies are currently growing at widely varying speeds, as falling commodity prices have led to a divergence between the growth rates of commodity-exporting and commodity-importing countries.
- Africa’s strongest economies over the last two years have included commodity-importing East African countries such as Tanzania, Ethiopia, Kenya and Rwanda, while the West African economies of Côte d’Ivoire and Senegal have also emerged as star performers.
- Rapid population growth and urbanisation are key drivers of property market activity across Sub-Saharan Africa. Its population is growing at a faster rate than that of any other global region and its demographic profile is both young and increasingly urbanised.
- A growing volume of capital is targeted at Sub-Saharan Africa real estate investment and development, with a series of new investment vehicles being launched in recent years. South African funds are increasingly prominent as they seek to diversify away from their domestic market.
- The retail property sector continues to be a major focus for development activity, causing the shopping mall concept to take root in an increasingly wide range of Sub-Saharan cities. Nairobi has been a retail development hotspot over the last two years, highlighted by the opening of the Two Rivers Mall, Garden City Mall and The Hub Karen.
- The logistics property sector has emerged as a focus for new development in Sub-Saharan Africa in recent years, and there is a growing recognition that the region’s key cities are undersupplied for modern warehousing space.