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.
Beyond mortgage finance, significant opportunities for growth in housing microfinance exist in Tanzania, according to the Centre for Affordable Housing Finance in Africa (CAHF).
The mortgage market in Tanzania registered a growth of 16% in 2016, according to the Tanzania Mortgage Refinance Company Limited (TMRC).
According to a recent report by the World Bank (WB) titled “Africa’s Cities – Opening Doors to the World”, the total economic value of buildings…
The PSPF Towers located in the business district of Tanzania’s commercial capital Dar es Salaam is now selling and renting normal and duplex apartments.
Government-owned property developer, Watumishi Housing Company (WHC), plans to build 500 houses for public servants in Dodoma, the political capital of Tanzania.
The 32nd Annual Conference on Housing and Africa Growth Agenda, aiming to support the growth of Africa’s economies through the development of a vibrant housing…
TanzaniaInvest had the pleasure of interviewing Oscar Mgaya, CEO of Tanzania Mortgage Refinance Company (TMRC), a private sector financial institution established in 2011 to support…
Tanzanians are willing to buy houses at an average cost of TZS60m, preferably in areas out of Dar Es Salaam city centre, in Mbezi, Kigamboni…
The PSPF Towers located in the business district of Tanzania’s commercial capital Dar es Salaam is selling and renting commercial offices for 550–900m2.