2008 Q2 - Freetown Sierra Leone General.
An overview of the real estate market in Freetown - Sierra Leone. Q2 2008
In general the best residential districts are to the west and south of the city. To the west there is the upmarket and touristic area of Aberdeen and Lumley beach. To the south there are the hills, views and a slightly cooler environment and a less frenetic pace of life.
In particular to the south there is an ex-pat focus on the area around Spur Road and Hill Station. There is a reasonable level of development activity.
In terms of supply, generally the majority of the available stock is not up to international standards aesthetically nor in terms of specification and finish.
The Central Business District in Freetown is located close to Tower Hill and particularly on roads suchas Boston Street, Stevens Street and Independence Avenue. This is the banking area, including such regional and global operators as UBA, Ecobank and Standard Chartered. Government properties tend to be in a more elevated position on Tower Hill.
Owner-occupation is a feature of this market and it has not yet developed to the extent that there are large, good quality office buildings available for commercial leasing.
Manufacturing consists mainly of the processing of raw materials and of light manufacturing for the domestic market. One of the largest enterprises is Star Breweries, which produce one of the most popular beers in West Africa.
Most of the industrial activity is to the east of the city where the port is located, and the lower-grade housing stock – in particular areas such as Cline Town and Kissy.
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