After offshore properties, Sub-Saharan African economy has become the next destination for property investors. These are the top notch locations where the property investors are looking for the real growth in the next decade.
Foreign investors consider the Sub-Saharan Africa as a natural resource where the economic growth will move at a remarkable speed during the next couple of years- according to the World Bank's latest report on ‘Global Economic Prospects’. The growth will be seen increasing to 4.9% this year which was 4.4% in the last year, accelerating with 5.2% next year and in 2015 it would be 5.4%.
Current situation states that Africa is now the second fastest growing region in the world which co-operates 5.1% this year and 5.6% for both the next year in the total economic growth of the world. The most powerful factor is the increasing interest in the property sector. Considering the scenario, property services group Broll opened its new Kenya offices in Nairobi on 6th August, 2013.
Malcolm Horne, the Group CEO of Broll said “Broll has been doing business in kenya with its international partner CBRE, for some time but now from its South African headquarters.” With a vibrant macroeconomic and political policy, Kenya is known as the economic hub of EA as it is attracting many multinational companies. not only Kenya but Nairobi is also becoming increasingly popular for the corporate offices.
Jonathan Yach, a South African expatriate and property professional and having 25 years of property experience in SA was appointed as the MD of Broll Kenya. According to him “The property market in Kenya is very practical, competitive and full of prospects. Due to rising retail property market, the number of new retailers entering into the market is also increasing which makes the market very suitable.”
Investors from all over the world are extremely satisfied with the investments in the emerging markets with factors like democracy, stability, and certainty. Most government in Africa believe that strong economic principles, fiscal discipline and enjoyable democracy highly attract the investors. The economic participation of the transnational companies creates an expanding effect in the property market.
Broll is active in over 15 countries including its new Kenya office Broll is directly represented in eight countries on the continent including Ghana, Malawi, Nigeria, Rwanda, the Mauritius based Broll Indian Ocean and Namibias.
