Top 10 Countries in Africa to Invest in Real Estate in 2026
Africa isn’t “one” real estate marketโit’s 54 different regulatory regimes, currencies, demand curves, and exit options. That said, 2026 is shaping up to be a year when growth is expected to firm across much of the continent and when hard-asset demand remains structurally strongโespecially in major urban corridors. The World Bank’s January 2026 outlook forecasts SubโSaharan Africa growth firming to 4.3% in 2026, supported by reforms, domestic investment, and easing inflation.
Below are my top 10 countries to prioritize for real estate investment in 2026โwritten from the lens of risk-adjusted returns, liquidity, and investability (not just “fast growth”).
How I ranked these markets for 2026
As Chief SEO Officer, I’m obsessed with two things: signal and scalability. This ranking uses a practical investor scorecard:
- Demand durability: housing shortages, urban migration, middle-class expansion, tourism/expat demand
- Macro momentum: 2026โ2027 growth trajectory (where available), inflation direction, and reforms
- Capital-market depth & exits: stock exchange liquidity and institutional participation (proxy for REIT/fund exits)
- Infrastructure catalysts: airports, rail, ports, metros, new cities (value creation corridors)
- Investor friendliness: transparency signals and business environment benchmarks (including broader “investability” studies)
The top 10 African countries to invest in real estate in 2026
1) Morocco
Why Morocco is top-tier in 2026: It’s one of the most visible “globalizing” real estate stories on the continent: tourism scale + infrastructure delivery + improving market sophistication.
2026 investment thesis
- Tourism momentum is directly translating into demand for hospitality, short-stay, mixed-use, and retail. Morocco recorded 19.8 million tourists in 2025 (up 14%), per the tourism ministry.
- Morocco is also pushing major infrastructure upgrades ahead of 2030 (airports, rail). Reuters reports on an AfDB-backed airport upgrade push and a national plan to expand airport capacity significantly.
Where to focus
- CasablancaโRabat corridor (business, finance, mid-to-upper residential)
- Marrakech / Agadir / Tangier (hospitality, branded residences, retail)
Best real estate plays
- Hospitality + serviced apartments (capture tourism and business travel)
- Logistics/light industrial (ports + trade routes)
- Mid-market residential in transit-linked growth corridors
Risk flags to price in
- Water stress and permitting friction in some areas (built with ESG + compliance-ready design)
- Segment oversupply risk in certain luxury pockets (underwrite absorption carefully)
2) Egypt
Why Egypt makes the list: Egypt’s real estate story is being fueled by massive capital inflows and new city development, creating multiple investable corridorsโalongside real currency and financing risks that sophisticated investors can price correctly.
2026 investment thesis
- Mega-project FDI is reshaping coastal and urban demand nodes. Reuters covered Egypt’s landmark $35B UAE-backed Ras El Hekma developmentโone of the biggest deals of its kind.
- Egypt also signed a $29.7B deal with Qatar’s Qatari Diar to develop a major Mediterranean coastal area into a tourism/residential destination, per Reuters.
Where to focus
- Cairo (residential, office, education-linked assets)
- North Coast (hospitality, branded residences, second homes)
- Select logistics nodes tied to national infrastructure
Best real estate plays
- Branded residential + lifestyle communities
- Hospitality and “all-year” destination assets
- Value-add redevelopment in underserved Cairo submarkets
Risk flags
- FX volatility and repatriation mechanics (structure cashflows defensively)
- Execution risk in mega projects (only back experienced sponsors + phased delivery)
3) South Africa
Why South Africa stays in the top 3 (despite lower growth): It’s still the continent’s most liquid, institutionally investable property marketโespecially for REIT-style and income-focused strategies.
2026 investment thesis
- South Africa has the most developed public equity market in Africa, accounting for ~60% of the region’s market capitalization, according to the OECD.
- It also ranks among the more liquid exchanges in Africa (a useful proxy for exit optionality and capital recycling).
- Even with modest growth forecasts (World Bank projects ~1.4% in 2026), liquidity and institutional depth make it a core allocation market.
Where to focus
- Cape Town & Johannesburg nodes (submarket selection matters)
- Industrial/logistics corridors with strong tenant demand
Best real estate plays
- Logistics + last-mile industrial
- Necessity retail in defensible nodes
- Multifamily/rental housing aligned with affordability gaps
Risk flags
- Power/infrastructure reliability risk (underwrite capex + resilience)
- Submarket divergence: “South Africa” is not one pricing curve
4) Kenya
Why Kenya is a 2026 standout: Kenya sits at the intersection of regional headquarters demand, a deepening formal market, and a government-backed housing push that supports scale.
2026 investment thesis
- Kenya’s macro outlook remains constructive (World Bank forecasts ~4.9% growth in 2026).
- Kenya is accelerating housing delivery: the government has publicly committed to delivering 500,000 affordable housing units by December 2026.
- Knight Frank’s Kenya market update highlights improving fundamentals, including rising office occupancy and strong tourism momentum (a useful demand tailwind for hospitality and short lets).
Where to focus
- Nairobi (mixed-use, grade-A nodes, rental housing)
- Mombasa (logistics + hospitality dynamics)
Best real estate plays
- Income rental housing positioned for professional tenants
- Mixed-use anchored by daily needs retail
- Logistics and warehousing are tied to trade and consumption
Risk flags
- Interest rate and affordability sensitivity (stress-test absorption)
- Land/title diligence is non-negotiable (budget time and cost)
5) Nigeria
Why Nigeria remains a top-5 market: sheer scale, structural housing shortage, and pockets of premium demand. Nigeria is not “easy,” but the upside is real for disciplined capital.
2026 investment thesis
- Housing demand remains massive. Nigeria’s Federal Ministry of Housing and Urban Development cited a housing deficit of 14.925 million units (as of 2025).
- The World Bank forecasts Nigeria’s growth to be round 4.4% in 2026 (supporting demand formation).
Where to focus
- Lagos (rental, serviced apartments, mixed-use)
- Abuja (premium residential, diplomatic/business demand)
- Select industrial/logistics corridors
Best real estate plays
- Professionally managed rentals (where quality supply is thin)
- Short-stay / serviced apartments in prime nodes
- Industrial and cold-chain environments where consumption patterns justify it
Risk flags
- FX + liquidity (structure leases and capital stack realistically)
- Regulatory unpredictability (partner and compliance matter)
6) Tanzania
Why Tanzania rises in 2026: High growth + infrastructure + logistics positioning.
2026 investment thesis
- Tanzania’s growth is projected to be strong, at ~6.2% in 2026 (World Bank).
- Infrastructure delivery is meaningful: Reuters reported that Tanzania launched a $3.1B standard-gauge railway linking Dar es Salaam to Dodomaโpart of a broader network intended to boost domestic and regional trade.
- Tanzania has also taken steps historically to encourage foreign participation in capital markets (a proxy for investment openness).
Where to focus
- Dar es Salaam (logistics, mid-market housing, mixed-use)
- Zanzibar (tourism, hospitality,y + lifestyle residential, where permitted)
Best real estate plays
- Warehousing and logistics parks
- Mid-income residential in infrastructure-linked corridors
- Hospitality assets with a strong operator strategy
Risk flags
- Leasehold/land tenure mechanics require expert local counsel
- Political and regulatory shiftsโprice in conservatism
7) Rwanda
Why Rwanda makes the top 10: Rwanda consistently punches above its size on regulatory clarity and investor signaling, and it’s forecast to remain one of SSA’s faster-growing economies.
2026 investment thesis
- Rwanda’s GDP growth is forecast to be around 7.2% in 2026, among the highest in SSA.
- Rwanda continues to build financial/investment infrastructure; for example, Kigali International Financial Centre highlights an incentives framework for qualifying investors.
Where to focus
- Kigali (urban housing, hospitality, office in select nodes)
Best real estate plays
- Mid-to-upper residential for professional tenants
- Hospitality/serviced apartments aligned with conference and business travel
- Small-format logistics serving regional distribution
Risk flags
- Market size is smallerโavoid oversized supply bets
- Pricing power is hyper-location-specific (micro-market diligence)
8) Cรดte d’Ivoire
Why Cรดte d’Ivoire is a 2026 growth play: Strong macro growth + Abidjan infrastructure modernization.
2026 investment thesis
- Cรดte d’Ivoire is forecast to grow ~6.4% in 2026 and ~6.5% in 2027 (World Bank).
- Abidjan is seeing major infrastructure initiatives; Sociรฉtรฉ Gรฉnรฉrale describes Abidjan Metro Line 1 as a major public transport project designed to move 500,000+ people per day, which can materially reshape real estate value corridors.
Where to focus
- Abidjan (transit-linked corridors, mixed-use, rental housing)
Best real estate plays
- Transit-oriented residential and neighborhood retail
- Industrial/logistics supporting regional trade
- Grade-A office in validated business districts (selective)
Risk flags
- Infrastructure timelines can slipโinvest in phases
- Title and permitting processes require robust diligence
9) Ghana
Why Ghana belongs in a 2026 shortlist: A stable, institution-building market with improving fundamentals and a real demand story in Accraโbest suited for patient, process-driven capital.
2026 investment thesis
- Ghana’s growth is forecast at around 4.6% in 2026 and 4.8% in 2027 (World Bank).
- For institutional investors, market structure matters: the OECD notes differences in corporate governance approaches across African markets and includes Ghana in its comparative landscape (useful for broader investability screening).
Where to focus
- Accra (mid-to-upper residential, mixed-use, select hospitality)
Best real estate plays
- Rental apartments targeting professional households
- Mixed-use neighborhood formats (retail + residential)
- Serviced apartments for corporate/NGO demand
Risk flags
- Construction cost volatilityโlock procurement strategy early
- Underwrite liquidity realistically (exit is not instant)
10) Senegal
Why Senegal rounds out the list: Dakar’s expansion plus infrastructure-driven suburbanization, with WAEMU dynamics that some investors prefer for currency stability (depending on your base currency and structure).
2026 investment thesis
- Senegal’s growth forecast moderates to ~4.1% in 2026 (after stronger recent years), according to World Bank projections.
- Urban expansion dynamics are real: Le Monde reports that the Petite-Cรดte region south of Dakar is increasingly becoming an upscale extension of the city, accelerated by the highway and its proximity to Diamniadio and the international airport corridor.
Where to focus
- Dakar (core nodes) and airport/Diamniadio corridor (selective)
Best real estate plays
- Mid-market rental housing in validated commuter corridors
- Hospitality and lifestyle residential in established coastal nodes
- Logistics are tied to trade and consumption patterns
Risk flags
- Land disputes and planning constraints (do legal diligence early)
- Don’t overpay for “future promise” without infrastructure certainty
2026 Africa real estate trends smart investors are underwriting now
These themes cut across the top 10 markets:
- Logistics is the quiet winner
Industrial land, warehousing, and lastโmile nodes tend to monetize faster than trophy offices in many African marketsโespecially where e-commerce and port/rail investment is rising. - Hospitality + branded residential is scaling again.
Morocco’s tourism record and Egypt’s coastal mega-deals show how capital is chasing destination real estate with year-round demand. - Affordable housing isn’t just impactโit’s volume.e
Kenya’s explicit 2026 housing delivery targets underscore efforts to accelerate housing supply, creating opportunities for PPPs, land partnerships, and construction technology. - Liquidity matters more than ever.r
The OECD’s data clearly shows that market depth and liquidity vary widely, with only a few markets standing out. That’s a real constraintโand a real moatโfor institutional exits.
Due diligence checklist (the “don’t lose money” section)
If you invest in African real estate in 2026, the winners will be the ones who operationalize diligence, not the ones who find the prettiest brochure.
- Title verification + land tenure clarity (assume nothing; verify everything)
- FX strategy (rent currency, repatriation paths, hedging where available)
- Sponsor selection (track record + delivery capability > pitch deck)
- Permitting and utilities (power/water access can make or break NOI)
- Exit plan from Day 1 (sell to local buyers? refinance? REIT/fund exit? strategic buyer?)
- Micro-market demand proof (actual absorption, not “population growth” headlines)
FAQ: Africa real estate investing in 2026
Which African country is “best” for real estate investment in 2026?
If you need a single answer: Morocco (tourism + infrastructure), Egypt (capital inflows), and South Africa (liquidity) are the most complete risk-adjusted setupsโeach for different reasons.
Which markets have the strongest growth tailwinds? In 2026 forecasts, Rwanda, Tanzania, and Cรดte d’Ivoire stand out in SSA projections.
Is Nigeria too risky?
Nigeria is high-friction, but the housing deficit is structurally large, which is why it remains investable for operators who know how to price risk and execute.
Should I invest in residential or commercial?
In most of these markets, the combination of residential (especially rental) and logistics tends to be the most durable. Offices can workโbut only in proven nodes with real tenant depth.
How should international investors enter these markets?
Most successful entries are via joint ventures, structured development partnerships, or income-focused platforms, especially where land tenure and permitting are complex.
