Lamudi Tanzania Country Manager, Godlove Nyagawa.
* Lamudi Tanzania looks at the increase of young people investing in real estate in Tanzania
BUYING rental properties becomes a popular option of investment for youngsters in recent years. The impressive 59.37 percentage of engagements among 25-34 men in Tanzania, according to a new survey from Lamudi, reveals that more and more people are willing to start as young as you can in real estate business.
The statistic research shows further that, compared with young people from 35-44 in the real estate business in the country, there is relatively higher engagement rate in the 25-to-29 age group. Also 35% of house hunters and investors are youth from the same age group.
“Youths are the ones to make changes in the industry” Country Manager of Lamudi Tanzania, Godlove Nyagawa commented on this phenomenon. However, there are definitely certain risks involved with investing rental properties in Tanzania, especially for young inexperienced investors.
“For a country to develop youth, we are supposed to be fully involved in the economic activities. There is a need to train the youth regarding the real estate business so as they can be conversant with the market.” Godlove added.
As early as 2007, Tanzanian government issued the National Youth Policy. The mission is to improve the current sluggish supervision as well as to facilitate various youth economic development programs by participating in different sectors including real estate.
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Launched in 2013, Lamudi is a global property portal focusing exclusively on emerging markets. The fast-growing platform is currently available in 28 countries in Asia, the Middle East, Africa and Latin America, with 600,000 real estate listings across its global network. The leading real estate marketplace offers sellers, buyers, landlords and renters a secure and easy-to-use platform to find or list properties online.