Online real estate platform touts more investments in residential houses

Online real estate platform touts more investments in residential houses

Mon Oct 20, 2014

INVESTORTS should target semi-finished houses currently put on sale by owners in Dar es Salaam and other growing urban areas, because there is high demand for residential houses and office space.

Lamudi Tanzania Public Relations Assitant, Lilian Kisasa said in Dar es Salaam over the weekend that Dar es Salaam is in high demand of both residential and office space because of the ever increasing population.

“If you are able to find an amazing deal on an old or unfinished house but it is in a good location, weigh your options and see if you can invest in that property to renovate and modernise it and put it back on the market for sale, often flippers can earn double the amount in return,” said Ms Kisasa.

She said similar profitable investments are found in many urban centres including, Arusha, Mbeya, Mwanza and Zanzibar where a growing middle class population is looking for residential houses and office space.

“However, we also suggest looking towards long term benefits with investments in areas such as Kigamboni which are developing rapidly,” Kisasa noted.

She said as the ninth fastest growing city in the world, Dar es Salaam is experiencing a housing boom and remains one of the most expensive cities in East Africa when it comes to real estate because of demand.

The Lamudi Public Relations Assistant further noted that her company is easily linking buyers and sellers of property through its online platform thanks to an increasing number of smart phone users in the country.

“Tanzania has also drastically increased internet and smart phone usage so this combination gives Lamudi a great opportunity to connect property clients and owners in a way that has not been seen yet in the market,” she pointed out.

Apart from Tanzania, the online property selling platform has also offices in Algeria, Cameroon, Ethiopia, Ghana, Ivory Coast, Kenya, Madagascar, Mauritius, Morocco, Mozambique, Nigeria, Republic of Congo, Rwanda, Tunisia, Uganda, Zambia and Zimbabwe.

Lamudi works with large scale professional agencies, individual property owners and middlemen to promote and market their properties which include plots of land, houses, apartments on its online platform and mobile application.

According to Ministry of Lands and Human Settlement, the country’s housing demand increases by an average of 200,000 units per annum with a demand at over 3m units currently.

“We call upon potential investors to come and join us in addressing this problem of housing which is an opportunity to them,” said Land and Housing Minister, Prof Anna Tibaijuka told a housing investment meeting organised by National Housing Corporation (NHC) recently.

SOURCE: DAILY NEWS

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