Real Estate Investor Magazine South Africa May/June 2015 | Page 60

AFRICA

Affordable
Commercial Space
Cheapest Locations For
Office Space In Africa

T

he commercial real estate ranking is based on
average prices per square meter drawn from
the sales price of online listings. The top 10
list takes into account both affordability as well as the
available supply of commercial property in each area to
determine the leading locations to invest in office space
outside of traditional central business districts.
Office space in the Guéliz area of Marrakech in
Morocco is on average priced at US$2300m2.
Taking second place on the list is Ethiopia’s capital
city. Prices for office space in the Summit area of Addis
Ababa average 1039.61 Ethiopian Birr, equivalent to
just over US$50m2.
Westlands, an affluent area in Kenya’s capital Nairobi,
claims fifth place. Buying an office in the area, where
business owners can find some of the most affordable
commercial property outside of the city’s central
business district, costs an average of US$664.23.
The port city of Zarzis in Tunisia (US$871.28m2)
and Béjaia, a port in Algeria (US$1004.98m2) rounds
out two of the top five locations to buy office space in
emerging African markets.

Area

Country

Sales price m2
(local currency)

Sales price m2
(US$)

Sales price m2
(ZAR)

Summit, Addis Ababa

Ethiopia

1039, 61

50, 83

615, 043

Westlands, Nairobi

Kenya

61538, 46

664, 227

8037,1467

Zarzis

Tunisia

1700

871, 28

10542,488

Béjaia

Algeria

98039, 22

1004, 98

12160,258

RESOURCES
Lamudi
58

MAY 2015 SA Real Estate Investor

www.reimag.co.za