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Home Startups CEO Weekends: Lamudi Says Lagos is Africa’s Most Sought-After Property Market

CEO Weekends: Lamudi Says Lagos is Africa’s Most Sought-After Property Market

by Sam Wakoba
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Lamudi01According to figures, produced from an analysis of searches on Lamudi’s online platform, Nigerian capital of Lagos is the most popular location for home-hunters in Africa. The new statistics reveal the most popular cities in Africa amongst property-searchers.

In a statement, Allie Morse, Managing Director of Lamudi Nigeria said, “With a buoyant economy and as one of the fastest growing cities in the world, it is little surprise that Lagos is the most popular city with our customers. Whether you are looking to buy or rent residential or commercial property, Lagos has a wealth of opportunities. This is reflected in the numbers of people searching for property there.”

Lagos was closely followed by Casablanca, Morocco and Nairobi, Kenya in the analysis. In full, the cities which made the top five ‘most searched’ areas are:

  1. Lagos, Nigeria37% of searches
  2. Casablanca, Morocco32% of searches
  3. Nairobi, Kenya19% of searches
  4. Marrakech, Morocco5% of searches
  5. Rabat, Morocco4% of searches

A clear trend identified in the analysis is the volume of searches for Moroccan cities. The popularity of Moroccan cities supports analysis which has shown a strengthening of the Moroccan property market and the economy more generally. A report from the International Institute of Finance this month projected that the Moroccan economy would experience 3.8% GDP growth this year, rising to 5% in 2015.

Launched in 2013, Lamudi operates in 11 African countries and is run by Africa Internet Holding headed by Jeremy Hodara as CEO.

Hodara said the popularity of these great African cities that made the top five is encouraging.

“Cities from across the eleven African countries in which we operate are proving popular with customers and compare favourably to other world cities in Lamudi’s global property listings portfolio. That underlines just how much of an exciting and fast-moving market Africa is.”

 

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