A condotel near the beach in Bali, eco-friendly commercial space in Dhaka and affordable luxury living in Addis Ababa. These are just some of the unique investment opportunities to be found in the emerging markets.
Global property portal Lamudi reveals noteworthy opportunities for international real estate investors outside of traditional investment locations.
1. Developments beyond the city center
Across Africa, demand for affordable housing is rising. As the high cost of housing has locked many property-seekers out of the real estate market in Kampala, many are now looking for other options on the outskirts of Uganda’s capital city. Affordability, however, does not have to mean compromising on quality. Mega City, one of the largest property developments in the country, is an integrated township of 1200 apartments located in Mukono, a 20 minute drive from Kampala. The development will offer top-of-the-line facilities to cater for working professionals, including ample parking space, a cafeteria, gymnasium and WIFI connectivity. Prices start at US$40,000.
2. Environmentally-friendly property
Demand for eco-friendly property is rising across the emerging markets, Lamudi data shows. Cityscape Tower, located in the Gulshan-1 district of Dhaka in Bangladesh, is a pioneering commercial development currently under construction. As the developers seek to have the building platinum LEED certified, the list of its environmental features is extensive: CO2 sensors to control indoor air quality, an energy efficient air conditioning system, intelligent lighting, rainwater harvesting, rooftop solar panels and more. Developers Cityscape promise 44 percent lower energy consumption than other buildings in the area, as well as a 60 percent water saving.
3. Mixed-use developments in strategic locations
Ghana’s business-friendly environment has seen a significant amount of investment over the years, leading to a boom in the real estate industry. Accra, one of the Africa’s leading real estate hotspots, has become a hub of construction activity and investment is pouring in. Developments such as No. 1 Oxford Street have been designed with lifestyle in mind to cater to residents and businesses alike. The project is being undertaken by real estate developer Wonda World Estates. The mixed-used residential, retail and recreational development is located in the prime area of Osu, known for its bustling commercial center, dining scene and nightlife. There are 10 floors of residential apartments, all of which are fully-furnished and have views over the Atlantic Ocean. From studio apartments to penthouses, restaurants to a terrace bar, No. 1 Oxford Street is strategically poised to meet the demands of the growing city.
4. High-end housing on a large scale
The biggest housing project in Rwanda to date, Vision City is a high-end residential and commercial development. It is the flagship project from the country’s largest real estate developer Ultimate Developers Ltd. This large-scale housing community will have more than 4500 units, ranging from luxury villas to apartments, once completed. It will be built in four phases over a period of eight years, with phase one slated for completion in mid-August 2015. In addition to residential housing, the development also has a town center, which will serve as the commercial hub of the estate. The town center will be a WIFI-connected lifestyle complex with commercial and retail facilities, a supermarket, restaurants, office complex, a luxury three-star hotel and convention center.
5. Property in a tourism destination
As tourist arrivals in Bali continue to increase year on year, the area’s condotel market offers one of the most lucrative real estate investments in Indonesia. Combining a condominium with the high-quality service of a hotel, condotels are usually secondary properties, with owners only permitted to stay there for a limited period of time each year (usually no more than 30 days). Wanaprasta Condotel, located close to some of Bali’s top tourist attractions, is one example that fuses modern design with the area’s beautiful natural scenery. Note that currently foreigners can own condotels for a 60-year period, which can then be extended by an additional 60 years.
6. Luxury at an affordable price
The emerging markets offer plenty of options for those looking to invest in luxury real estate. Designed to look like a blooming lotus flower, Poli Lotus International Center in Ethiopia’s capital Addis Ababa contains luxury hotels, office and commercial space, and high-end residential buildings. Billed as the “first urban complex in Ethiopia”, the development has 13 buildings, each with 12 floors for luxury apartments. Prices range from 2.5 million Ethiopian Birr (US$120,119) for a two-bedroom apartment up to 5.1 million Ethiopian birr (US$246,424) for the most luxurious penthouse apartments.
Author: Fidel Owusu Amoah | Content Manager- Lamudi Ghana