I want to buy a beach front property in Adama or Deberzeit, Ethiopia for a business. What is the average price to buy a land? Please help.
SB
xxx
Hi everyone,
@ Lemen.neh,
I suggest you contact the professionals listed in the Real estate in Ethiopia section of the business directory so that you may inquire about the prices.
All the best,
Bhavna
Hello
I do not understand, Adama has no beach front, beside the Awash River around 7 km outside the town but realy nice!
Deberzeit has some lakes but most land is already given to investors.
In general a lot of land is for sale in the country, but with a big BUT! and a big RISK!
1. Selling land is illegal, you can only sell the asset when a land has been developed to 70% of the development which has been promised to the investment commission (rural area) for example farm land. of course people try to by pass this by selling shares, or use any other trick!
2. the prices are at the moment extreme high. You will look at offers which are higher then in developed countries. Adama I believe is going down a bit at the moment!
3. it is depending very much on what you want to do and how much land you need. please explain more to us, that we can understand! Is it only for living, is it for investment etc.
4. it depending a lot on your nationality, are you Ethiopian, Diaspora or non Ethiopian
5. First please understand that land is never owned by any one in Ethiopia, only the State owns land!!!! People receive a kind of right to use a land, on a lease agreement from government. This can be depending on the project and the location up to 99 years.
6. Currently in both location large scale investigation going on, by the government, due that a lot off land has been traded, owner ship change etc. with out approval or often with corruption involved! So people are trying to sell as fast as possible before some one turns off to question ownership!
7. Both locations are in Oromia, please note that the law in oromia and the federal law are not 100% conform. I know cases of land which has been handled on the Woroda level, went up to Zone, after this to Region and suddenly the contract where rejected and payments had been done already!
Feel free to contact me! via personal message. I am not a broker, just a farmer!
Oliver
Add
also possible, but takes long time and needs back up by officials is to take over land from farmers as a investor (you need to present a good plan) is the compensation, but alos quite expensive and will use a lot of your cash.
general rules
compenstation = 10 years of income for the previous owner, calculated by 5 years everage yield and 5 years everage sales price for the drop
Problem, the people setting this numbers are setting them as high as possible, not for sure in the interest in the current user of the land, more in the interest of themselves.....to cook you soft.
this works mostly for high profitable business, for example the large flower farm in Zwuya (Sheer) took the land by compensation for the expention!
Oliver
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