The building and Construction industry is one of the fastest leading sources of investment in the twenty first century due to its numerous potentials. The building and construction industry under real estate is one of the fastest developing industries throughout the world, due to large demand for housing and estate facilities.
The real estate industry is over a trillion dollar industry and its still developing by the day.
Here are seven smart ways to invest in real estate in Africa.
1. Source for Cheap and affordable offers:
One of the smartest ways to invest in real estate is to always look out for cheap and affordable offers when buying properties.
2. Look Out for Fast Developing Areas:
Look out for fast developing areas that will give you value for money in a short and long term.
3. Research Well before Buying:
Make sure you conduct research about the property, the location, the seller to be sure the land is free from any Government acquisition, lawsuits or litigation before going on with the transaction..
4. Be Observant:
Watch out for speculations about the area , the community etc An area with a proposed ultra-modern facilities will get developed faster than an area without.
5. Offer Installmental Payment:
One of the new introduction into the real estate market is payments by installments that allows you to make payments over a particular period as agreed between the two parties.
6. Buy and Wait:
Don’t wait for the property to develop before buying instead buy and then wait.
7. Long term mortgage:
When dealing with very expensive properties, apply for long term mortgages that can be serviced for a long term or Look for properties that offers long term mortgages.
8. Seek Low Interest Loan:
When getting a loan to finance a project, always seek low interest loan that offers a long term repayment plan at a very low interest. By and large investing in real estate in Africa requires immense research and ressilience. It is not normally a must that it is a rewarding venture in all countries in Africa.