10/02/2024
According to Statista, the real estate market in Africa is expected to reach a value of $15.98tn by 2024. Within this market, the residential real estate segment dominates with a projected market volume of $13.39tn in 2024.
The market is expected to witness a yearly growth rate of 5.92% between 2024 and 2028, leading to a market volume of US$20.11 trillion by 2028.
Keeping a close eye on global living standards, Numbeo, a platform known for its economic index, monitored property prices across cities on the continent.
In its 2024 report, Numbeo identified African cities where housing tends to lean towards the higher price spectrum.
Cameroon’s Douala secures the top spot as the city with the most expensive property prices in Africa, with Addis Ababa, Ethiopia, and Algiers, Algeria, trailing behind.