NAIROBI, April 10 (Xinhua) -- Domestic capital are anchoring property investment across Africa as local investors assume a longer-term perspective, a report released on Wednesday showed.
According to the report by global property consultancy Knight Frank, of the 35 African property markets covered between 2017 and 2018, real estate investment yields remained stable in 16 locations, and rose in six, while 13 markets recorded declines.
"By taking a longer-term perspective, and in some cases a lower return profile, local investors have remained more active than headline figures suggest," said the report dubbed Africa Horizons.
This explains how yields in most major markets have remained stable in the face of weaker reported transactions, it added.
The findings show that approximately 200 billion Kenyan shillings (about 2 billion U.S. dollars) worth of real estate deals in Africa were publicized in 2018, predominantly in South Africa.
"We envisage rising investor demand for those African locations that can demonstrate something of a counter-cyclical nature, combined with rising domestic wealth," the report noted.
According to the Africa Horizons report, top residential investment opportunities across the continent include student accommodation, with Zambia, South Africa and Kenya being education hotspots, retirement homes, and middle-income housing as demographics change.
