News on property, cars and general classifieds in Ethiopia

Apr 11, 2017
The Ethiopian real-estate market continues to defy all odds, and its growth trajectory still points upwards.
 
As much as builders seem to be firing on all engines, home ownership in Ethiopia remains extremely low where the sharp supply and demand disparity is forcing an upward pressure on prices for all types of homes.
 
There is a large number of builders in Ethiopia with varying target market focus. In general, homebuilders can be classified into three main categories with the government and other low cost home builders leading the way in building hundreds of thousands of affordable housing that has made a very significant number of citizens first time homeowners.
 
These homes are what are traditionally known as “condominiums” whose sizes vary from a bachelor studio apartment to a 3 bedroom family dwelling. The prices as well as rental incomes of these homes vary based on location and size.
 
For example, a 43 Sq.m studio apartment in the center of Addis currently commands an asking price of 700,000 ETB, and it can fetch up-to 6,000 Birr per month in rental income.
 
Moving up the price ladder are homes from private builders typically catering to clients in the middle income market segment with current prices ranging from a two bedroom with a price tag of 2,000,000 ETB all the way up to about 3,500,000 ETB.
 
For buyers with more exquisite taste and the added gusto for location, new and experienced foreign builders lead by Chinese companies offer apartments in best locations with a surrounding geared for more posh lifestyle. Prices for these properties range from 3,500,000 ETB to 5,000,000 ETB
 
Buyers willing to shell out more money for gated community type lifestyle can choose from a large number of builders who cater to this segment. Prices start at about 8,000,000 ETB, and some of the houses have a private compound up-to 1000 Sq.m.
 
Factors to consider before shopping for a home in Ethiopia
 
  1. Who is eligible to buy property in Ethiopia?
Ethiopian citizens and Ethiopian citizens who live abroad
Foreign nationals of Ethiopian origin
People with Ethiopian parents
 
  1. What does the listing price include?
Is 15% VAT included in the published price?
Is the title deed transfer fee included in the published price?
 
  1. What is the current status of the property?
Is the property already built or is it pre-selling?
If it is pre-selling, how long will it take till the handover?
 
  1. Payment schedule
What are the payment schedules and what is the consequence of not meeting them?
 
  1. Price change
Will there be a change in pricing during the course of the building if the property is not selling already built
 
  1. Other fees
Are there legal fees, Condominium fees, separate parking fees?
 
HelloMerkato is the leading online classifieds platform for home buying and selling in Ethiopia. With tens of thousands of active listings, knowledgeable and responsive sales consultants; it is your best resource to search, find, and buy a home that appeals to your taste and fits your budget.

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