How Ride-Hailing Platforms Like Yango Are Transforming Zambia’s Real Estate Market
As Zambia continues to urbanise, the rise of ride-hailing platforms like Yango and Bolt is not only transforming transportation but also reshaping the real estate landscape. These services are changing how Zambians think about location, property development, and investment opportunities. For property owners, developers, and investors, recognising these shifts is essential to staying competitive in this evolving market.
1. Changing the Value of Location
Traditionally, proximity to public transport or major urban hubs was a key factor for renters and buyers. Ride-hailing services like Yango have altered this dynamic:
- Suburban Growth: Ride-hailing and ride-sharing make suburban living more practical and appealing. Areas like 15 Miles, Silverest, Vorna Valley, and Meanwood Ndeke are now seeing increased interest due to their affordability and newer-build properties, particularly among families and young professionals.
- Remote Living Made Accessible: Locations once deemed “too far,” such as Chongwe and Chilanga, are now viable options for buyers and renters seeking larger properties, modern designs, and value for money.
2. Declining Demand for Parking Spaces
With fewer people relying on private vehicles, the demand for parking spaces in residential and commercial developments may decrease over time:
- Smaller Parking Needs: Developers in Lusaka can re-allocate resources from large parking areas to more in-demand amenities like green spaces, gyms, and children’s play areas.
- Repurposing Opportunities: Properties with unused parking spaces can be converted into rental units, container-based businesses like LPG refill stations, or co-working hubs—a growing trend in Zambia’s gig economy.
3. Expanding the Short-Term Rental Market
The convenience of ride-hailing/sharing platforms like Yango has also boosted the appeal of short-term rentals in Zambia:
- Serviced Apartments in Demand: Neighbourhoods near malls and entertainment hubs, such as Kabulonga and Roma, are becoming prime locations for short-term rentals. Investors can capitalize on this by offering well-furnished, accessible accommodations.
- Opportunities for Homeowners: Homeowners in ride-hailing-friendly areas can generate higher returns by transitioning to short-term leases, provided they plan and manage these properties effectively.
4. Mobility-Focused Developments
Developers are adapting to the mobility-driven preferences of modern residents:
- Pick-Up/Drop-Off Zones: Forward-thinking developers are adding dedicated ride-hailing/sharing bays and related services. Developers should also consider adding charging stations for electric vehicles to future-proof their projects. Foxdale Court in Roma is an excellent example of incorporating future trends to their development.
- Lifestyle Amenities: Mixed-use developments featuring gyms, cafes, and retail spaces are gaining traction as ride-hailing/sharing reduces the need for private vehicles, offering a convenient, car-free lifestyle.
5. Rising Property Values in Hotspots
Ride-hailing/sharing services like Yango influence property values by driving demand in specific areas:
- Urban Accessibility: Properties near malls, business hubs, or recreational spots, such as East Park Mall, are experiencing heightened demand and increased value.
- Commercial Real Estate: Restaurants, cafes, and retail spaces in ride-hailing-heavy areas benefit from higher foot traffic, creating opportunities for commercial property investors.
What Does This Mean for Investors and Developers?
For those in Zambia’s real estate sector, ride-hailing/sharing services like Yango present numerous possibilities:
- Invest in Emerging Suburbs: Areas outside traditional urban hubs are becoming more attractive, offering affordable entry points for both first-time buyers and seasoned investors.
- Focus on Amenities Over Parking: As parking becomes less critical, developers can prioritise lifestyle-driven amenities.
- Tap Into the Short-Term Rental Market: Ride-hailing’s convenience makes properties in accessible neighbourhoods ideal for platforms like Airbnb.
The rise of platforms like Yango is reshaping Zambia’s real estate market in profound ways, from suburban growth to new investment opportunities in short-term rentals and mobility-focused developments. By staying informed and adaptable, property owners, developers, and investors can leverage these trends to maximize returns.
At BCA Properties, we’re committed to helping you navigate these changes. Whether you’re exploring suburban residential investments or planning commercial rental ventures, our team is here to guide you. Contact us at +260962117516 or hello@bcaproperties.com today.
Credit: Photo by Ketut Subiyanto