The Africa Report 2022/23
As we launch our biennial 2022/23 Africa Report, we are optimistic about the fortunes of the continent’s real estate markets, although clearly, lingering Covid-related legacy challenges remain and are in some cases being exacerbated by global geopolitical events.
That said, with oil prices being sustained at well over US$100 per barrel, oil-exporting nations in Africa will undoubtedly experience an economic boost, while others that need to import oil may face additional headwinds this year.
The industrial market has proved to be extremely resilient, with a seemingly permanent pivot by consumers to online shopping turbocharging warehousing requirements.
Elsewhere, international demand for homes to lease or purchase is improving as expats return following the easing of global Covid travel restrictions. Rising inflation and a sharp increase in the cost of borrowing is expected to curb demand amongst domestic house hunters, however.
Office markets are grappling with the fall-out of the pandemic as hybrid working patterns become increasingly mainstream, particularly amongst international occupiers.
The retail landscape has experienced a very mixed picture, with some markets enjoying resilient demand for space in smaller, community shopping centres, while other locations face the threat of oversupply and depressed rents……..
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