Real estate transparency continues to improve gradually across Sub-Saharan Africa. However, the region is making advances at a more muted pace than in previous years, in an environment where expectations continue to rise. Further improvements will be essential to support the region’s drive for greater business efficiency and increased investment into real estate and infrastructure.
The 2018 Index shows a gradual increase in the region’s transparency, with 10 out of 15 markets registering improvements since 2016. South Africa remains Sub-Saharan Africa’s only ‘Transparent’ market, home to a significant institutional investor base and listed sector. Another four markets are considered ‘Semi-Transparent’ – Botswana, Mauritius, Kenya and Zambia.
Kenya and Nigeria – the leading hubs in East and West Africa respectively – have been leading progress over the past two years, while Rwanda has also continued to improve.
However, the pace of change needs to accelerate to shrink the gap between Sub-Saharan Africa and other global regions. Sub-Saharan Africa still lags behind other regions in terms of market data availability, while enforcement of regulations and sustainability benchmarking are also among key areas where there is significant potential for improvement.
Source: JLL, LaSalle Investment Management
Going forward, four issues look set to determine how Sub-Saharan African transparency progresses in the future.
To find out more about Global Real Estate Market Transparency in Sub-Saharan Africa, download The Path to Real Estate Transparency across Sub-Saharan Africa