In this week's episode of the Property Magicians Podcast, we talk to Funke Alao again. We first interviewed Funke in episode 87, where she shared about the real estate market in Nigeria. Funke is a realtor in Nigeria and does business in Ghana, Rwanda and soon Kenya.
In this episode she is sharing about the real estate market in Rwanda where her company has apartments available for sale.
She shares that she fell in love with Rwanda because it is so beautiful and so organized, especially when it comes to structure and the vision for the country. The Rwandan government is also keen on the quality of the buildings, they do a lot of inspection and quality control so investing in real estate in the country is a good decision.
Funke explains that owning real estate in Rwanda is attractive because the government of Rwanda is also investing heavily in tourism, which makes up 46% of GDP; this is also increasing the number of people going to the country.
More tourists also prefer short term stays like AirBnB instead of hotels, which opens up short term rental opportunities.
Funke started off her business in Rwanda focused on residential real estate but she soon realized that because of the ease of doing business in Rwanda, commercial lettings were also in demand.
Rwanda is ranked second best for ease of doing business in Africa and because of that, the demand for commercial property will increase because more companies are establishing businesses in the country.
In this episode, Funke also shares how to register a company in Rwanda and how to buy property in Rwanda, because her company does have apartments available for sale.