Ethiopia is cheapest emerging market for luxury property, data shows

Luxury Home by Sunshine Construction
Luxury Home in Addis Ababa, Ethiopia

Fast-growing Ethiopia is the cheapest place in the world’s emerging markets to buy luxury property, according to a new ranking from a specialist property company.

Top end real estate there costs around $448 per square metre, while luxury property in Angola is ten times more expensive, at over $4,500 per square metre, data from property portal Lamudi shows.

Africa’s second most populous country, Ethiopia is also one of Africa’s top economic performers: its economy is expected to expand 8.6% this year and 8.5% in 2016, compared with 10.3% growth last year, the International Monetary Fund said in April.

Read more at: Global Construction Review