Bujumbura
Bujumbura is the capital city and the largest town of Burundi. It is situated in the North eastern region of the Lake Tanganyika. As the capital center, it acts as the hub for shipping the countries exports which include coffee, cotton, tin ore and skin.
The town was initially established as a military base by the German East Africa back in 1889. After the First World War, it was promoted into the nerve center of Belgian League of nations. Its name was initially Usumbura, but after independence in 1962 it got converted into Bujumbura. The town has acted as a major fighting zone between the Hutus and Tutsis.
Population
Bujumbura is densely populated with a population of about 315 people per km2. 85% of the population is Hutus, 15% Tutsi and less than 1% is Twa.
Land prices
Burundi is rated as one of the poorest countries in the world with the lowest GDP. The development in Bujumbura is scratchy hence the land rates are generally low compared to other the general cost of lands in the developed countries. There is also high demand of housing as the country is just recovering from years of civil war.
Although many people live in the rural areas, the recent peace talks and serenity that have been attained in the county are encouraging people to go back in the urban areas. There are plans and efforts that are being made by the government to help in achievement of the millennium goals. These plans are inclusive of establishment of improved urban planning, access to land and housing.
The finance market
Burundi is directly relies to foreign aid as the country is too poor to afford capital for real estate investing. In addition, people in the country are highly affected by HIV/Aids, corruption and the civil war. Anyone with means of getting out of the country is not willing to invest locally. The donor community which is composed of civil society and private investors. The Experimental Reimbursable Seeding Operations Trust Fund (ERSO) is another capital source. Anybody can buy land in the city and develop it according to the set regulations.
Real estate trends
With the promising stability in the country and high influx into the town, real estate investments are a promising field in the country. Average rents are high due to limited housing. The cost of the houses are also low since there are limited people are still affected by the aftermath of civil war. The cost of living is high in the town and the house costs keeps on falling as you move away from the city center.
Local News
Investor's arrest in Burundi annoys Dar - East African
Published 14:28, 5th May GMT
IFC's CEO Thunell announces commitment to Burundi's SMEs, economic growth - WorldStage
Published 13:31, 14th May GMT
Insecurity threatens South Sudan EAC bid - The Citizen Daily
Published 10:13, 29th April GMT
EALA sessions end in Nairobi / Sitting passes 5 bills, adopts key resolution ... - StarAfrica.com
Published 14:24, 27th April GMT
- retrieved via Google News