Tanzania is rapidly emerging as a prime destination for luxury real estate investment in Africa. With its stable political climate, robust economic growth, and breathtaking landscapes, the country offers unparalleled opportunities for both local and international investors.
Economic Growth and Urbanization
Tanzania’s economy has been on an upward trajectory, with a GDP per capita of $2,668 in 2023 and a projected growth rate of 4.74% annually from 2024 to 2028. Urban centers like Dar es Salaam, Arusha, and Dodoma are experiencing significant development, driven by infrastructure projects such as the Standard Gauge Railway (SGR) and improved road networks.
High-End Appeal
Luxury properties in Tanzania offer a blend of modern amenities and natural beauty. Coastal areas like Zanzibar are attracting foreign buyers seeking eco-friendly and sustainable living options. Developments such as Shivo Towers in Paje exemplify the fusion of luxury and environmental consciousness.
Legal Framework for Foreign Investors
While foreigners cannot directly own land in Tanzania, they can acquire land for investment purposes through derivative rights issued by the Tanzania Investment Centre (TIC). Additionally, foreigners can own up to 70% of apartments in a building, promoting investment while maintaining local ownership.
Conclusion
With its growing economy, strategic location, and supportive investment policies, Tanzania stands out as a lucrative market for luxury real estate investment. Kales is committed to guiding investors through every step of the process, ensuring a seamless and rewarding experience.