According to a recent report by PWC titled “Real Estate – Building the future of Africa” Tanzania Presents Significant Opportunity for Real Estate Developers.
The report covers a number of fast growing economies in Africa namely Angola, Ghana, Kenya, Mauritius, Mozambique, Namibia, Nigeria, South Africa, Tanzania and Zambia.
According to Ilse French, PwC Africa Real Estate Leader: “Levels of investment in real estate in Africa are low by a global standard, while significant challenges exist in exploiting potential opportunities. However, our research suggests the impact of global megatrends on Africa will be huge.”
The report indicates that Tanzania’s real estate market is mainly focused on the residential property sector and that the gap between demand and supply of houses in Tanzania creates a significant opportunity for real estate developers.
This is coupled with an increasing demand for housing amongst low- and middle-income families, although access to finance remains a major constraint on the market.
Tanzania’s current housing shortage is close to 3.8 million units, growing by an additional 200,000 units per year.