Kampala is the capital of Uganda, a landlocked country located in East Africa. Uganda got independence in 1962 but woke up to its real estate potential only in the nineties because of civil and political unrest that lasted for nearly 3 decades. Uganda is referred to as the Pearl of Africa because of its diverse wildlife and beautiful landscape consisting of lakes, hills, and rivers.
Kampala is the hub of economic activities
Kampala is not only the largest city of Uganda but also the most populous one. It is a modern cosmopolitan city with a huge population of more than 1.5 million people. This population is growing at a rate of 4.3% per annum which is why the city presents huge opportunities of real estate development and investment. There is great demand for homes by not just buyers but also those looking for a place on rent.
Property prices are increasing every year
It is no surprise that property prices in Kampala have been increasing at a brisk pace over the last many years. Being the capital of Uganda, Kampala is the hub for business and investment. More and more locals and international investors are investing in Kampala real estate because of the increasing property prices here. Unlike stock market, real estate here is seen as a tool for investment that offers attractive rate of returns.
Uganda is blessed with oil and natural gas and these assets are worth more than $75 billion. The capital earned from oil and gas is spent mainly on infrastructure with a sizeable amount going into the real estate sector. With population growth in Kampala, the demand for housing has gone up significantly. Even though large number of homes and apartments in Kampala are being built by the government and private builders, the demand outstrips the actual supply of homes.
As an investor, you will find the prospects alluring in Kampala real estate. In fact, properties prices in Kampala have been appreciating at such a fast pace that investors have recovered their investment in just a few years time. Property prices in Kampala are touching the roof right now. Prices per sq m are around UGX 12 million (toughly $7047). Investors are now more interested in surrounding areas of Kampala such as Mpigi, Wakiso, and Mukono.
You cannot get ownership rights of property in Kampala as a foreign national as 1995 constitution reserves rights of ownership of land for only citizens of Uganda. However, you can get lease of the property for 49 or 99 years.
If you are interested in earning attractive returns on your investment, Kampala real estate market presents ample opportunities to you. Hermie Homes is a company with tons of experience in Kampala real estate. It can help you in getting high returns on investment (as high as 16% per annum) and a memorable life experience that the capital of Uganda has on offer for you.
Find us on Facebook at https://www.facebook.com/HermieHomes/
Find us on Instagram at Instagram.com/hermiehomes