Should You Invest?
With Angola striving to attract foreign investors, property
investment is slowly starting to take off and property is being
sold. Many foreign investors are buying houses and apartments for
vocational rents where rental income can be good depending on the
location.
- The government appear serious about attracting FDI, and have
set up the National Private Investment Agency (ANIP) in order to
streamline foreign investment and make things easier and to make
sure investors receive maximum advantages.
- Due to China's interest in Angola's oil fields, in 2004 China's
Eximbank opened a $2 billion credit line to aid the country with
its infrastructure development.
- The government is keen to move towards an "angolanisation" of
the economy in everything from drilling and extraction to airports,
banking and catering.
- The government is trying to increase tourism and attract more
visitors by spending money on developing the country's
facilities.
- With an undeveloped property market rental yields are currently
very high.
Rental Yields
Good quality properties to house urban residents are in short
supply and are therefore likely to equate to some of the more
profitable investment opportunities for investors.
Angola doesn't have a very developed property market therefore
rents and rental yields are very high. For an overseas businessman
to rent a flat it can cost between US$12,000 to $15,000 a month
which is higher than most major international cities.
Price History
Property prices in Luanda city centre and other major cities are
high compared to the rest of Angola. An average office in Luanda
centre overlooking the coast can cost around $6,500/£3,250 per
sq.m.
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