23 Jul 2014

An American firm has ranked Botswana number one among 42 emerging and frontier property markets around the world.

According to the Office of the President, a 2014 study on emerging and frontier markets by New York-based real estate brokerage and consulting firm Cushman and Wakefield, identified Botswana as the most efficient and transparent developing commercial real estate market.

A statement from Dr Jeff Ramsey, deputy permanent secretary responsible for Botswana Government Communication and Information Services (BGCIS) says the study cited Botswana’ improving economy and a high supply of new office developments in Gaborone.

Dr Ramsay says the outlook for the office sector in Gaborone is that the market will “become increasingly polarised between prime and secondary space.” 

He continues: “As economic growth stabilises, this will help to improve business confidence, and with Botswana being one of Africa’s most stable countries, the outlook is positive. However, activity will focus primarily on prime space, with the proliferation of secondary space likely to remain largely vacant”.

The study ranks neighbouring countries South Africa and Zambia second and third respectively.

“The study is considered significant as global analysts are often cautious about emerging property markets, where the risk is generally viewed as higher than in established real estate markets, mainly due to political instability, corruption and safety concerns,” says the statement. BOPA