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African urban growth is expected to be massive

Posted by Admin Kaya on December 17, 2020

Real estate sector in Africa has been experimenting an impressive growth. On average, 10,000 accommodations miss each year in most of these countries, and despite some governmental endeavors, the shortfall is still important.

According to several studies, African population is going to increase over threefold during the next 40 years. This demographic growth will inevitably go with a strong development of cities, which has already started. Currently, 400 millions African people are living in urban zones, which is 40% of the population; it was 3% 50 years ago, and it will be 1,2 billion in 2050 (60%). Finding a home for their family is a necessity for parents, and an obligation for the African gouvernent.

The African diaspora represents more than 30 million people worldwide. They send 40 billion dollars each year to their native country. This money is mostly used for emergency help for families, but also for investment: real estate is the first investment item of the diaspora that takes to heart owning an accommodation in their home country.

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