Divergent Trends in Property Values across Africa (By Roger Long)
Roger Long, Director of Valuation & Advisory Services, Broll Property Group The outlook for each country’s market is largely tied to the expectations on the performance of the wider economy in that country. By Roger Long, Director of Valuation & Advisory Services, Broll Property Group ( www.broll.co.ke ) The onset of the COVID-19 pandemic not only affected people and communities, but also impacted commercial property values across the world. This report looks at the effect of the pandemic on property values in Africa, with a special focus on select countries. The outlook for each country’s market is largely tied to the expectations on the performance of the wider economy in that country. It is expected that these trends will persist in the short to medium term. Which sector has been the hardest hit? It was initially anticipated that the retail sector would be the most affected due to the lockdowns and the subsequent inability to trade. There were casualties, but many malls and ...