Tanzania Real Estate

The developments within the Tanzanian construction sector have positively influenced and benefited Tanzania’s real estate and housing sector through the creation of additional real estate space.

The current real estate development projects that are under way, as well as those that are being developed, have created various opportunities for interested local and foreign investors.

The Tanzanian housing sector’s fast-growing demand is mainly driven by the fast-growing Tanzanian population which is estimates to be 53.47 million and that is expected to more than double by 2050.

The current demand for housing in Tanzania is estimated at 200,000 houses annually, and a total housing shortage of 3 million houses.

Tanzania PSPF Towers Real Estate Project

In 2015, the Public Service Pensions Fund (PSPF) of Tanzania completed its major real estate project, the PSPF Towers, which are the tallest buildings in the country and the 5th tallest buildings in Africa.

The Towers are located in Dar es Salaam and offer for sale 2 types of apartments: normal apartments and duplex apartments.

For 3 bedrooms apartments, the price ranges between USD350,000 to USD500,000, inclusive of VAT at 19%.

For offices in the PSPF Towers, the price is USD 2,200 per square meter. Only the ground floor and mezzanine are available for rent for shops and other commercial activities.