Ethio Real Estate News

News and analysis on the Ethiopian real estate market

[Ethio Real Estate News @etrealestate]

Impact of the new exchange rate regime on real estate.

https://t.co/T9tg1Ax1yZ

[Ethio Real Estate News @etrealestate]

@LijYesew56198 @GetachewSS You can get a one bedroom condo in the middle of the city for $20k USD. One bedroom apartment in Piazza goes for $50k. Which big city around the world has such prices? Two years ago we have heard of expensive apartments in Bole being sold for $300-$500K but those days are gone.

[Ethio Real Estate News @etrealestate]

@EthioNegari I am surprised there are that many active in this challenging environment.

[Ethio Real Estate News @etrealestate]

they could be demolished or expropriated for the corridor development. No one wanted to take the risk. Some places went down more than 50% as compared to two years ago.

Let's hope that those in power will correct course. It is easy to chase away business but hard to get it back.

[Ethio Real Estate News @etrealestate]

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...

[Ethio Real Estate News @etrealestate]

there is light at the end of the tunnel. According to my sources (commission agents and real estate developers), there is an increased activity especially in the apartment and condominium sector.

The most severely affected was land and villas. This was due to the fear that ...

[Ethio Real Estate News @etrealestate]

The first good news for Ethiopian real estate in two years.

[Birrmetrics @birrmetrics]

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.
https://t.co/eV6k0Pm6E4

[Ethio Real Estate News @etrealestate]

@mike_foshoe The 200k was probably land value.

[Ethio Real Estate News @etrealestate]

5. Developers can’t force owners to accept a house that is less than 80% completed.

[Ethio Real Estate News @etrealestate]

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:

[Ethio Real Estate News @etrealestate]

4. Homes can not be sold or transferred during construction phase

[Ethio Real Estate News @etrealestate]

What would you buy with the new diaspora bank loan that was availed by the NBE?

[Ethio Real Estate News @etrealestate]

@BisratLKabeta Nice summary. Are you sure renting in USD is permitted?

[Ethio Real Estate News @etrealestate]

@SamRosmarin I think the stock exchange is a bigger threat to real estate. Locals can only keep FX sent from abroad. But the stock exchange allows you to buy shares in Birr. For decades, cars and homes were basically the only options for preserving capital (bank shares, to a lesser extent).

[Ethio Real Estate News @etrealestate]

@Mekdes_T_M Show your contract to a lawyer. I am sure he/she can find something to negotiate about. The government recently announced that all transactions are to be in Birr. It didn't say you can't enter into a contract in USD, but it didn't say you can either. It is open to interpretation

[Ethio Real Estate News @etrealestate]

@solassefa @GetachewSS Add another 30k/sqm for land and you are at 110k to break even in popular places inside the ring road.