The Seeff Property Group is delighted to announce that we now have an office in the Democratic Republic of Congo (DRC), headed by Willyfred Songha, licensee for Seeff DRC. The office is located in Lubumbashi, and from here, the Seeff team is able to fulfil any real estate needs, whether you are a buyer, seller, landlord or tenant.
Willyfred says the Seeff team is on a mission to transform real estate in the DRC. They already have loads of property listings and will continue to expand their offering. The areas that Seeff services offer many different property options, from purchasing straight-forward-built houses with a choice of bedrooms to apartments, and a range of modern homes and villas.
Seeff also markets a range of commercial properties, and land concessions for a variety of development opportunities, as well as agricultural options.
The Democratic Republic of Congo (DRC), comparable in size to Western Europe, is the largest country in Sub-Saharan Africa (SSA). It is rich in exceptional natural resources, boasting vast reserves of minerals such as cobalt and copper, substantial hydropower potential, extensive arable land, immense biodiversity, and the world's second-largest rainforest.
The country has enjoyed excellent GDP growth in the post-Covid years, specifically in 2022 and 2023. According to the World Bank, the DRC economy peaked in 2022 with GDP growth of 8.9%. Growth remained robust throughout 2023, ending at 7.8% growth for the year. Growth was boosted largely by the strong mining sector which recorded growth of as much as 15.4%, and which contributed some 70% of the overall growth last year. Agriculture was much slower, recording only 2.2% growth (compared to 2.4% in 2022).
Kinshasha is the capital city of the DRC. Lubumbashi, the second largest city in the DRC is the main city of the Haut-Katanga Province, and is located in the southeasternmost part of the DRC on the border with Zambia. It is the mining capital, and acts as a hub for many of the big mining companies.
Its strategic location makes it a property market with loads of potential across various property sectors. Willyfred says that anyone can purchase real estate, from houses to commercial and agricultural concessions in the DRC. This includes foreigners who can obtain property as well as a renewable investor visa up to a permanent residence visa.
The average price for a residential house ranges from USD 150,000 up to USD 600,000. Three-bedroomed apartments range up to USD 1500,000.
In terms of the purchasing process, Willyfred says that once the Seeff team has insight into the needs of the customer, they will present different property options which meet the need/s, or they will look for suitable properties which might be more suitable to the customer's needs.
Seeff verifies the authenticity of the relevant property or land parcel title in the land register, and then the procedure begins with a site visit by the customer. Once the customer accepts the purchase, then usually the buyer and seller will meet for the conclusions and the conditions of the transaction.
The next steps involve changing the title. Most real estate transactions are done in cash. Banks are extremely strict when it comes to real estate finance, unless you are a trader with revenue-generating activities. The interest rate is around 12% to 15% per year and the maximum repayment period is 3 years.
The registration process is simple. Once the seller has paid the real estate agency with its lawyer, the legal process then takes care of the change and registration of the parcel title in the name of the new owner. It may take around two weeks to obtain all the documents.
Willyfred advises buyers to always deal with a credible real estate agent, and to ensure that any transaction is done with total transparency to avoid surprises.
Current properties for sale include a four-bedroomed house on a 1000sqm plot in the Golf district in Lubumbashi, priced at USD 650,000 with a certificate of validity of 23 years renewable twice whereafter it will be perpetuated.
There is also a three-bedroomed house on Avenue De La Revolution, priced at USD 450,000.
Seeff also markets commercial properties as well as land concessions available to develop residential and commercial, as well as agricultural projects. Concessions for sale include land or around 5.5 hectares with a few small houses on Route Likasi in Lubumbashi, priced at USD750,000. This can be developed by building luxurious apartments which can sell very quickly.
Seeff is also marketing various plots of land. This includes 5.2 hectares in Lubumbashi with constructions to be completed and a warehouse for USD 750,000, and 342 hectares near Kinshasa for USD 10 million.
For more information about property opportunities in the DRC, visit https://www.seeffdrc.com/.