Understanding African Real Estate Markets  book cover
1st Edition

Understanding African Real Estate Markets

ISBN 9780367233105
Published April 29, 2022 by Routledge
272 Pages 31 B/W Illustrations

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Book Description

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.

Table of Contents

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.

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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