1st Edition
Understanding African Real Estate Markets
This book brings together a broad range of research that interrogates how real estate market analysis, finance, planning, and investment for residential and commercial developments across the African continent are undertaken. In the past two decades, African real estate markets have rapidly matured, creating the conditions for new investment opportunities which has increased the demand for a deeper understanding of the commercial and residential markets across the continent. The chapters consider issues that pertain to formal real estate markets and the critical relationship between formal and informal property markets on the continent.
With contributing authors from South Africa, Ghana, Nigeria, Uganda, Kenya, and Tanzania, the book considers the achievements of African real estate markets while also highlighting the complex central themes such as underdeveloped land tenure arrangements, the availability of finance in both the commercial and residential sectors, rapidly growing urban areas, and inadequate professional skills. This book is essential reading for students in real estate, land management, planning, finance, development, and economics programs who need to understand the nuances of markets in the African context. Investors and policy makers will learn a lot reading this book too.
1. Sub-Saharan Real Estate Markets: An Overview of the Contributions
Francois Viruly and Aly Karam
2. Global Trends Impacting African Real Estate Markets
Dr. Wilfred K. Anim-Odame
3. Africa Cities, Urban Growth Management and Property Development
Cecil Madell and Aly Karam
4. The Residential, Office, Retail and Industrial Markets in West Africa
Gavu, Emmanuel Kofi; Owusu-Ansah, Anthony and Anim-Odame, Kwabena Wilfred
5. Land Tenure Systems and Sustainable Land Management with Special Reference to the Kenyan Rural Areas
Jennifer Murigu
6. The Impact of Land Tenure on Real Estate Markets & Land-Use Rights and Land Registration
Terzungwe T Dugeri & Austin C Otegbulu
7. Towards A Harmonious Land Administration Institutional Service Delivery in Kenya; A Decentralized Approach
Dr. Winnie Mwangi
8. The Policy Frameworks Supporting Sustainable Development of Real Estate in Kenya
Dr Mwenda K. Makathimo
9. An analysis of the Evolution of the Sub-Saharan African Residential Real Estate Research
Aly Karam, Francois Viruly and Taiwo Afinowi
10. Inclusive, Affordable and Smart Housing in Africa
Prisca Simbanegavi, Kolawole Ijasan
11. A tale of two pathways: how the low-end Gauteng residential property market may be shaped either by state-driven supply or by a more enabled private sector
Mark Napier, Antony K Cooper, Jennifer P. Holloway, Londeka Thanjekwayo, Nick Graham, Alize Le Rouz
12. Appraisal of Nigeria Real Estate Market: Constraints and Opportunities
Austin Otegbulu, Victor A. Akujuru
13. Challenges of Raising Real Estate Finance in Nigeria
Akinola E. Olawore
14. Performance of Sector-Specific and Diversified REITs in South Africa
Omokolade Akinsomi
15. Application of Building Management System (BMS) in Commercial Property Management in Kenya
Walter Ogolla, Raphael Kieti
16. An investigation into the perceived impact of implementing innovative digital technology in the property transaction process in South Africa: Implications for African Property Markets
Jason Green, Francois Viruly and Alireza Moghayedi
17. Real Estate Education in Africa South of the Sahara
Catherine Kariuki, Kathy Michell, Rachael Daisy Mirembe
18. The Real Estate Education in West Africa
Akujuru Victor A., Deeyah Christopher L.
Biography
Aly Karam is a visiting associate professor in the School of Architecture and Planning at University of the Witwatersrand, Johannesburg, South Africa. He earned a PhD in city and regional planning from the University of North Carolina at Chapel Hill, North Carolina. His research interests and publications extend to both the planning and the architecture disciplines. In architecture he publishes on marketing and on the use of IT in practice and its effect on the management of the architecture offices. His planning research and publications revolve around informality, land and real estate, housing policy, and the housing process.
François Viruly is an associate professor and director of the Urban Real Estate Research Unit at the University of Cape Town, South Africa. He has been President and Executive Director of the African Real Estate Society and the 2022 President of the International Real Estate Society. His research interest lies in the development and sustainability of property markets across the African continent.
Catherine Kariuki is a lecturer at the Department of Real Estate, University of Nairobi. She holds a Bachelor of Arts degree in land economics and a Master of Arts degree in housing administration and is a registered and licensed valuer. Her research interests are in property management, valuation, housing and land management and administration. She is a past President of the African Real Estate Society and a board member of the International Real Estate Society. She has previously served as a board member of the Valuer’s Registration Board.
Victor A. Akujuru holds a BSc degree in valuation and estate management from Bristol Polytechnic, a MSc in urban land appraisal from the University of Reading, and a PhD in built environment from Salford University, all in England. He is a fellow of the Nigerian Institution of Estate Surveyors and Valuers, a registered estate surveyor and valuer, a Right of Way Agent, and a Right of Way Instructor. He has held visiting research positions at Kaduna State University, and University of Jos, Nigeria. He is a past president of the African Real Estate Society.
"This book is a novel contribution to the under-researched African Real Estate Market and its presentation will be well understood by students and practitioners." Professor I. U. Kalu, Department of Estate Management, Abia State University, Uturu, Nigeria
