News and analysis on the Ethiopian real estate market
Toronto, Ontario
Joined January 2020
- Tweets1.6K
- Following389
- Followers799
- Likes330
Pinned Tweet
Impact of the new exchange rate regime on real estate.
ethiorealestate.com/how-birr…
Ethiopian real estate shows signs of recovery
I have not posted in over a year. There was no point really. For two years the gov enacted policies after policies that ended up decimating the sector and it was clear that recovery will take time.
Through my blogs I warned that...
1
4
437
The first good news for Ethiopian real estate in two years.
BREAKING: Ethiopia’s Council of Ministers has approved a draft law permitting foreign nationals to own immovable property for the first time, a major shift aimed at boosting investment and housing development.
birrmetrics.com/ethiopia-to-…
1
1
534
A new legislation to require real estate companies to put advanced payments in blocked bank accounts.
In a draft bill unveiled in the house of representatives today, several strict rules are to be introduced. Here are the highlights:
1
7
577
What would you buy with the new diaspora bank loan that was availed by the NBE?
77%Real estate
12%Car
12%Other
52 votes • Final resultsVery useful thread from the famous journalist @GetachewSS
Ethiopian Realestate In (almost) crises : The once booming sector is now in a sharp decline. Some of the leading realestate companies are either scaling back or discounting their units to attract a dwindling market. If you are a buyer, this is your chance. 1/5
2
601
Deadline to register rental agreements has been extended by one month to Hamle 27 (August 3, 2024). The Addis Ababa city government announced that so far over 240,000 agreements have been registered by the original deadline of Sene 30.
2
446
Ovid Real Estate attempts to woo the diaspora community with a platinum sponsorship of Teddy Afro's concert in Dubai!
URGENT
An opinion piece on why the draft regulation can kill the Ethiopian real estate market.
ethiorealestate.com/the-fina…
**Breaking News: Draft law threatens to confiscate diaspora properties without proof of bank receipt
If enacted, it will grant the state powers to investigate and confiscate private assets without requiring a court order. Key elements of the proposed legislation include:
Addis Ababa is listed as the third most expensive city in Africa for real estate. It appears they are not considering the gap between the official and parallel exchange rate.
Top 10 African cities with the most expensive real estate
1. Kampala, Uganda
2. Douala, Cameroon
3. Addis Ababa, Ethiopia
4. Algiers, Algeria
5. Oran, Algeria
6. Rabat, Morocco
7. Alexandria, Egypt
8. Tunis, Tunisia
9. Casablanca, Morocco
10. Marrakech, Morocco
africa.businessinsider.com/l…
1
246
Lack of water supply is the biggest challenge to the real estate market. thereporterethiopia.com/4032… via @The Reporter Ethiopia
1
261
Addis Ababa city government to start registration of rental agreements on June 7, 2024. As previously reported, the new law requires landlords and tenants to have a written agreement registered or else they could face significant monetary fines.
Government to pocket up to 100 Billion Birr from properties reclaimed as part of the corridor development.
According to documents released by Addis Ababa city government, it will cost around 40B to develop the area but expects to generate nearly 100B from the properties.
Addis Ababa City Government extends the land auction deadline by 10 days. Participants now have until May 17, 2024 to buy auction documents. It is to be recalled that the city had around 250 plots prepared for auction. Most were reclaimed from the Corridor Development areas.
Breaking: New Real Estate tax on the way
ethiorealestate.com/ethiopia…
A residential building collapsed in Addis Ababa causing deaths.
#Ethiopia: Seven people killed after a residential building collapsed in #Addis_Abeba
Seven people were killed when a residential building collapsed in the capital Addis Abeba, Addis Kifle Ketema (sub-district) Woreda 12, in the specific place called Tero Mosque.
State media quoted the executive of the district Aida Awol as saying the victims were killed when the residential house collapsed and crushed on another house in the backside. The accident happened last night at 11 PM local time.
The news provided no further detail on the victims, the cause of the collapse, and other damages.
634
Promised Homes Turn to Paper Castles In Addis Abeba, a Housing Plan Builds Frustration Instead addisfortune.news/promised-h…
