Real Estate in Ethiopia is booming

Real Estate in Ethiopia is booming. The phenomenon is steered by government policies whose actors from the ruling party are very much invested in the business themselves. Monopolization of land by the government and close ties of politicians, business affiliates and banks has made real estate a haven for money laundering and corruption – while Ethiopians continue to be evicted.

Admittedly, in all countries of the world, Ethiopia included, the reasons behind rising property prices could be many. In the Ethiopian case, these factors include, among others, demand for and supply of real (estate) assets, rising population and urbanization, the existence of a large number of tenants working for donor communities (NGOs) and multinational institutions, huge influx of money that the diaspora community sends back home (remittances) that largely is poured onto the housing and real estate markets. This commentary, however, focuses on government policy (infrastructure and service sector-focused) and the corruption fueled aspect of the fast-rising real estate and related property prices.

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