Investment banking firm Akribos Research Services expects the country’s property market to withstand macroeconomic headwinds buoyed by growing demand for commercial space.
In its 2024 monetary policy analysis, the firm recommended investors to invest in the property market in anticipation of higher returns.
“This (demand for commercial space) is going to positively impact property prices. Rental rates may rise and potentially lead to higher returns for property investors. We recommend investors to diversify their portfolio by also investing in the property market through REITs,” said Akribos.
Last year, the macro-economic environment was challenging for the real estate market, characterised by high interest rates and a rapidly depreciating local currency.