Angola’s leading property portal has published a report highlighting the investment opportunities in the African country.
Angola Property Insights 2022, published by AngoCasa, reported a 90% drop in property prices in Angola during a five-year recession.
“It is difficult to overstate the extent to which the economic recession has weakened Angola in the past five years,” it noted.
But following years of falling property prices, there are signs of a potential recovery.
“The country is emerging from the recession period, with macroeconomic stability being restored and positive GDP growth expected in 2021/2022,” is said.
Angola’s capital Luanda has often been ranked as one of the world's most expensive city for expatriates, ahead of cities like Tokyo, Zurich and Singapore, and the capital's real estate prices have been ranked as the highest in Africa, and among the most expensive globally.
The report noted that for the most part, foreign direct investment inflows to Africa have generally been attributed to five factors. These are regulations (the ease of doing business), the general investment climate, broader economic reforms, information communication and technology development, and infrastructure improvements.
“Angola is making improvements on all fronts, and is receiving a high level of interest as an investment destination from investors from across the globe,” the report said.
Interest in Angola has widened, with all eighteen provinces being considered for investment and a wider range of industries being targeted in the country. Investors, however, continue to face challenges in analysing the Angolan markets due to a general lack of industry data for financial analysis.
The report provides international investors with insights into the real estate investment opportunities and the economic climate in Angola. It focuses on four key areas: Real Estate market analysis, Moody's upgrading of Angola's ratings, real estate project highlights and the Diaspora investment scheme.
Angocasa, Angola’s largest property portal, was part of Frontier Digital Ventures until 2019 when its shares were bought by Tech Africa Ltd, which also owns and runs Angola's leading car portal AngoCarro.