Property Market Trend in Dar es Salaam | Property Investment Market Value 2020 in Dar es Salaam
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Dar es Salaam is the capital and most populous city of Tanzania. It is a regionally important economic centre. Dar es Salaam is also the largest and most populous Swahili-speaking city in the world. Before it was a coastal fishing village.
Dar es Salaam is located on a natural harbour on the eastern coast of East Africa, with sandy beaches in some areas.
The region of Dar es Salaam is divided into five districts they are: Ilala, Kinondoni, Temeke, Kigamboni, Ubungo.
The city has a tropical climatic condition, It has a hot and humid climate throughout much of the year. It has a steady population growth. The population is predicted to be 5,690,000 in 2025.
Dar es Salaam in Tanzania is the most important business and investment hub. The city has high concentrations of trade and other services and manufacturing compared to other parts of Tanzania.
Dar es Salaam has efficient transportation facilities. It has an Airport, Ports, Railways and well built roads.
It has many schools, colleges, universities. People often migrate here from other parts of Tanzania and Africa for better education.
Property Market Trend in Dar es Salaam:
Dar es Salaam’s property market is increasing steadily. Tanzania has achieved strong average growth of 6% in past five years. The Dar es Salaam’s real estate market is still on Infancy. Current real estate asset pricing in the city remains fairly subjective.
The GDP and Per capita income of the country is upto 3,100.00. The GDP growth rate of the country is 7.20%. The population growth is upto 2.77%. As the population of the country is on increase the demand for properties are also on increase. Yields are relatively high at around 9% to 04%, because supply of good quality property is so limited. The city is thriving large scale real estate developments as many construction practices are taking place. The property priced in Dar es Salaam is upto US$200,000 to US$400,000. However, the housing market in Dar es Salaam is relatively low. People search properties which are quite affordable. With the increasing GDP too, Tanzania remains one of the poorest country of the world. As the country lacks in opportunities and education, people are prone to poverty. Non citizens may acquire land for investment purposes. The rental income earned in Dar es Salaam is relatively high. Hence, This is the property price trends of Dar es Salaam.