Types of Real Estate Investments in Zambia: Option 1, Bare Land
If you’re considering investing in real estate, you’ll never go wrong with most investment choices. After all, the advantages of real estate investing far outweigh any disadvantages in the long run regardless of your choice of investment. Let us have a quick look at some of the types of real estate investments in Zambia that you might want to consider.
Investing in bare land in Zambia is a long-term investment option that is ideal for farms or future residential or commercial developments. Bare land in areas “not-so-near” the urban centres is relatively fairly priced and affordable to many as demand in these areas is likely not as much. Depending on your investment goals, this may be a good option for investment as you are likely to get much bigger space in the outskirts than you’d get for the same price in urban centres.
Some potential advantages of this type of investment are that you may buy good-sized land cheaper and later lease it out to farmers. You may also buy in an area that may quickly develop in a few years and then develop residential or commercial real estate investments on the land. Some disadvantages of this type of investing include difficulty to predict the pace of development in some areas. While some areas develop fairly fast, others will be slow, which is sometimes hard to predict. Other disadvantages of this type of investing in Zambia include land encroachment by illegal squatters especially if you leave the land bare and undeveloped for prolonged periods. Another key disadvantage is that you are unlikely to have good road access to far-flung areas and will most likely have poor or no connectivity to essentials like electricity and communication.
Some areas of interest for this type of investment in Lusaka include land in the Chaminuka area and surroundings, Chifwema Road passed the cement plant, Leopards Hill Road passed the Nkwashi gated community development and so on. Got any other areas in mind that would be suited to this type of investment? Share this in the comment section below.
Next, we will look at houses and residential plots as an investment option in Zambia. Get in touch if you would like to chat more and have an interest in buying bare land in Zambia. You may use the webform or chatbot here or chat on WhatsApp.