Boasting the most developed and active property market, South Africa handles significantly higher volumes compared to its SADC counterparts. It's a trendsetter too, pioneering concepts like mixed-use developments and estates to meet growing urban demand.
South Africa stands out for its buyer-friendly approach, especially for first timers. Banks offer generous loans (some exceeding 100% with closing cost coverage) and property prices have remained stable. Government initiatives like the FLISP program further support buyers earning between R3,501 and R15,000 per month.
Seeff's branches across the SADC report a surge in demand for commercial property. This reflects ongoing development and economic expansion, suggesting exciting shifts in the region's property landscape.
While the SADC boasts a growing property market, a significant gap exists in affordable housing, creating an opportunity for developers. Urbanisation is creating opportunities for delivering housing, especially in the lower price categories. While low-cost housing presents challenges, successful examples are emerging across the region.
Another rising trend is the demand for mixed-use developments and estates. These secure communities offer residents a desirable lifestyle with amenities like swimming pools, playgrounds, green spaces, and more, all readily accessible. This caters to a growing desire for convenience and a sense of community.
Namibia shares some similarities with South Africa. Interest rates and property prices show a close resemblance. Coastal areas such as Swakopmund are a popular choice not only for locals, but also for South Africans who want to either invest in a second home there, or retire there, according to Maria Esterhuysen, licensee for Seeff Namibia.
Botswana's property market also follows a similar pattern, although their market remains smaller. The country has a vibrant economy. Economic growth has boosted demand for commercial property, both offices and retail, as well as the development of modern facilities in Gaborone, Francistown, and Maun.
Kim Bekker, licensee for Seeff Botswana says foreign entities and individuals can generally own residential and commercial properties, although there are limitations on land ownership. Exciting new residential developments include Seriti Estates in Mmopane (apartments and communal facilities), priced from BWP669,000, and Bodulo Apartments in Peto Estate in Phakalane, priced from BWP825,000.
While the Zimbabwean property market is affected by the weak economy, Patience Patongamwoyo, licensee for Seeff Zimbabwe, says they continue seeing good business, driven primarily by Expats. High-interest rates and limited access to home loans make cash purchases a necessity, and most purchase in US Dollars.
Lusungu Kayela, licensee for Seeff Zambia, says residential property in Lusaka offers a choice of different types of residences and prices ranging from low-cost, to medium and high-cost prices. Aside from stand-alone houses, there is also a choice of semi-detached flats and terraced flats.
In the DRC, the city of Lubumbashi, which is located in the mining area, offers a number of opportunities, according to Willyfred Songha, licensee for Seeff DRC. The property market is open to anyone to invest in real estate, both residential and commercial. This includes foreigners who can obtain property as well as a renewable investor visa up to a permanent residence visa. Aside from commercial properties, there are also land concessions available for development, as well as agricultural projects.
According to Lusungu Kayela, licensee for Seeff Malawi, urban areas such as Lilongwe, Blantyre, and Mzuzu offer several opportunities in the property market. Property prices vary significantly depending on various factors such as location within the city, size of the property, amenities available, and overall condition of the property. While citizens can freely own property in Malawi, foreigners face certain restrictions, especially those who do not have a residence permit in the country.
eSwatini offers a mix of residential and commercial property opportunities, according to Anthony Mcquire, licensee for Seeff eSwatini. Commercial property includes offices and warehousing space, as well as opportunities such as restaurants and guest houses.
Mauritius is one of the most popular island nations of Africa and the beautiful island has become a popular destination for property investment, both for own-use, but also for the busy rental market according to Severine Dalais-Peterson, licensee for Seeff Mauritius. Seeff is currently marketing several off-plan developments with excellent potential.
Aside from SADC, Seeff also has a branch in Dubai which is regarded as the fastest growing property destination in the world. The city is due to attract increasing numbers of expats and residents to the country, which is adding further demand for residential property.
In response, there are many new developments on offer with very attractive payment plans, according to Nombasa Mawela, licensee for Seeff Dubai. These are mostly selling off-plan which means low down-payments and a period over which to pay for the property. They also offer attractive yields.
Generally speaking, Seeff recommends that anyone interested in property, whether to buy or rent, and whether it is residential, commercial or agricultural, should get in contact with the local Seeff branch. As Seeff agents, we are duly skilled in terms of the legal requirements and can vet and assist clients with all aspects of the transaction.
Seeff has branches in Botswana, DRC, eSwatini, Malawi, Namibia/Swakopmund, Zambia/Lusaka, Zimbabwe, Mauritius, as well as in Dubai.
Visit www.seeff.com for more information.