Maputo Mozambique Real Estate
Mozambique has been one of the fastest growing economies in the world for more than a decade, but the picture is changing dramatically. As one of Africa's fastest growing economies, it is preparing to increase investment in infrastructure, infrastructure development and economic development.
With forecasters predicting continued price increases over the next five years, the Association of Real Estate Agents of Mozambique has been campaigning for the creation of a national association of real estate agents focused on the development of affordable housing.
The residents can buy a small house of 90 square meters in Maputo from their wages, "Eduardo Samuel, administrator of BRITALAR Mozambique, told TBY. When someone buys a flat in Mozambique, it is not unusual for relatives to come and buy the flat next door, he told Tby, adding: "Then we all live in a condo together.
In an unregulated real estate market, providing special assistance can prove an attractive option for foreigners living in Mozambique, especially for people with low incomes and limited financial resources. Low-income residents are often lured to leave their homes to make way for such real estate deals. Housing developers like Istanbul Construction have found a niche in the market, as commercial real estate and real estate could prove a more lucrative investment.
Mozambique's ownership system is similar to the stock-block schemes sometimes used by developers for leisure facilities in South Africa. As a result, many foreign developers have demonstrated a well-developed legal framework for foreign investors in Mosambica. To facilitate investment for South Africans, the administrators of Moz Ambique have concluded a double taxation agreement with South Africa.
The length of the period from bottom to top will in turn have a direct correlation with the real estate sector and will directly affect the development of the Mozambican economy and the growth of the economy as a whole, which in turn will directly affect Mozambique's economic growth and ability to mitigate the debt crisis. Meanwhile, the ownership of land by the state guarantees that it is used for residential and agricultural purposes. Land must not be commercialised, but belongs to the state, because of its heritage under the socialist administration of the country. Although leases can be extended and ownership transferred, the entire land in Moz Ambique is state-owned.
In the medium term, the real estate sector is expected to flourish and attract investors as the number of people employed in the oil, gas and mining industries increases and the population grows. With over 2,500 kilometres of coastline, Mozambique is an ideal location for the development of the oil and gas industry as well as for residential and commercial development. In the coming economy, the real estate sector will reach 4% of GDP by 2020, up from 3.5% in 2010.
Aeroportos Mozambique is also expected to start planning real estate projects in 2013, including the construction of a new airport, hotel and housing development as part of the government project. More than $25 billion worth of construction projects are underway in the country, according to the Department of Housing and Urban Development. Momentum Africa Real Estate Fund previously had two projects in the pipeline in Mozambique, but we were also unable to sign tenants.
A number of leisure and investment properties have been placed on the market in the sought-after area. South African - run website dedicated to real estate in Mozambique, offering upscale homes in Maputo. Remax is offering holiday homes in Xai XiXai for around $350,000, while a lodge, spa and gym are listed by Moz Ambique Properties for $1.5 million.
But expats need to remember that these properties will be much more expensive than unfurnished ones. Some of Mozambique's land is state-owned, but locals and foreigners only buy used land that can be renewed for 50 years or more. Either way, Preen said, investing in Maputo is a particularly good deal because investors don't pay for land.
As mentioned above, land is an asset that cannot be marketed in Mozambique because it cannot belong to anyone but the state. Mozambique has a strong framework in which property rights can be identified and transferred, but it is still not an easy process.
Despite these problems, Marques believes that it is necessary to consider the level of supply and demand for real estate. In Rio, however, land use could mean an increase in land costs, which could translate into higher tax collection costs. Meanwhile, Investec's O'Reilly added: 'There is no doubt that foreigners looking to buy property in Mozambique are aware of the country's high levels of ownership and property prices.
We believe that real estate investment is a source of income that can be generated through sustainable tenant quality, "he said. Investors are also looking at the burgeoning property market in South Africa's northern neighbour. The country's tourism potential goes beyond oil and gas, and Mozambique still has many opportunities that may not seem as obvious as in other markets, but "there are still many opportunities in the country's" high growth, low tax environment "and" high quality investment opportunities "in terms of infrastructure and infrastructure development, said the company's chief investment officer, Dr. David O'Reilly, who has been active in sub-Saharan Africa since his first investment in the country 28 years ago:" Mozambique is one of the most attractive markets in Africa for those interested in doing business in sub-Saharan Africa.