Real Estate In Libya: An Exciting Investment Prospect
Libya has emerged as one of Africa’s exciting investment prospects after its many years of isolation. As the international sanctions limiting the importation of capital and goods are now lifted, the flow of investment is rising quickly. And this creates significant opportunities in the commercial sectors as local and foreign investors can now invest in Libya and take advantage of their growing economy. Libya is an exciting real estate investment prospect because:
- Tripoli enjoys a strategic location for business as it is highly accessible to Southern Europe, the Levant, and Africa with its population of 1.5million and steadily growing at 2% annually (a significant portion of the population are high-income expatriates).
- The growth in rental prices has increased to an average of 65%-70% and even 150% in some areas which benefits the rental market in a major way.
- Office space is undersupplied in major areas, making it an ideal place for businesses who want to set up headquarters in this country.
- The outlook for office and commercial property is sound.