In-ward looking policies choke property market

In their Africa Report 2017, researchers at the UK-based real estate group say investors looking to invest in retail property market will be dissuaded by the recently adopted stance by government not to issue trading licences to foreign retailers that are seen not to be effectively participating in citizen economic empowerment.

On the other hand, the report also warns that the residential middle to high-end market has been severely affected by the reduced demand due to the high number of expatriates who are denied work permits.