What lies ahead for the real estate sector ın Uganda? The real estate sector in Uganda recorded growth in the last 20 years despite the unpredictability of the Ugandan economy.
Uganda real estate sector has been demanding for 20 years from domestic and foreign investors. In 2018, the sector, according to Arthur Mukembo, regional director, RE/MAX-Uganda, a real estate agency, performed fairly well. Predictions from different players in the industry indicate that the industry will mostly likely face new developments that will affect its performance both positively and negatively.
Investors, who usually look for cheap offices, prefer Uganda. Uganda offices are both cheap and have a great vacancy rate. According to experts next year, more offices will be opened in the suburbs of Uganda.
“Sophistication of primary players and intermediaries like banks, property developers, valuation surveyors, commercial tenants and other users, real estate agents, lawyers, and so on, might come on board in 2019 as the market formalises in search of a larger scale and more complex opportunities,” Arthur Mukembo predicts.
The government of Uganda offers some opportunities for investors. The government of Uganda will establish economic regions throughout the country next year. In addition, the Government will provide infrastructure facilities, credit fand public services according to enterprises.
This year, Sabiiti Bageine, the Executive Director Property Management and Consultancy, Bageine & company Limited, says will see double digit growth for the economy in the medium term.
“The new economic wealth generated will stimulate consumer demand for goods, services, and credit and investment opportunities like real estate offers – one of a few asset classes that generally continuously appreciates in value over its lifetime. In summary, we will see more investment in real estate,” he predicts.
In the past year, Uganda’s money lost value against the dollar. However, Uganda real estate sector showed high performance. In Uganda, the sector, which was least affected by the economic crisis, became the real estate sector.
Sevdenur Demir / realestatecoulisse.com