Has Anyone Ever Considered Investing In Property In Angola? Africa´s 2 nd Biggest Oil Producer

[Leandro2]

Hello;

I live in Luanda, Angola´s capital. My city was considered the most expensive city in the world las year http://www.bbc.com/news/business-33160738 and http://www.scmp.com/news/hong-kong/economy/article/1873121/hong-kong-now-second-most-expensive-city-world-expat-rental

Now that we are not sellingas much oilas we used and the price of the same has drastically dicreased, the country has entered into a serious economic crisis, we have observed a large number of expats leaving the country, many companies (natonal and foreign) have closed and the price of goods and services have increased in the local currency, but when converted to USD or Euro they are actually much cheaper than before the crisis.


We are rich in diamonds, gold, copper, iron, marble, magnesiu, and many more metals and minerals. Our government is desperate for money and is quickly changing laws to make the country more attractive to foreign investment in the areas of agriculture and mining.

It is obvious that the the mining industry will take our economy back to normal or into an even better situation, but it will take two or three years in the best cases or it is probable that something will happen in two or three years that will take the oil price bakc or close to its previous price.

But before both any of this happens, I believe that it is important to take advantage of this economic chaos and purchase the houses, offices and apartments that are been abandoned by the expats that are leaving the country. There are so many nice complexes and projects that are empty, so many office buildings that are empty because no one dares to open a business at this moment and the current businesses are closing.

The best business at the moment is to buy land for almost nothing. People have lost their jobs or companies and their best source of income at the moment is in the form of second homes, land or cars.

Our country will definetely recover, and it would be good to make so profit when it does.

Doug Casey defends this type of investment: http://www.internationalman.com/

 

[nmb]

While Angola may not be the first investment destination on the list of the majority of property investors, from what you say it does look as though the country is going through a very difficult period which might create some interesting investment opportunities. History shows us that markets often overreact on the upside and the downside and property prices can be significantly impacted.

The only major problem in the short term would seem to be the depressed oil price and the impact which fracking could have on the worldwide oil market in the longer term. Will there be growing demand for minerals and metals in the short term bearing in mind the current state of the worldwide economy?

This may be one of those occasions where you need to overlook the short term outlook and look at the longer term prospects.

 

[lookinginvest]

Like so many African countries the past reputation of Angola is very different to what is happening today. A number of investment reports over the last few years have highlighted Africa as the main growth engine of the worldwide economy in years to come. Is now the time to invest in Angolan property? Will the volatile oil price hold back a recovery in the short term?

 

[Leandro2]

Exactly, I totally agree with you. When investing in any economy in crisis, one most always have a long term perspective.

Luanda´s newest and most expensive area is called Talatona. The houses and plots of land that are on sale here are always over a million dollars. But the most amazing thing is that the people who are selling the plots bought them for less than 1 000 USD between 6 - 10 years ago.

Before the crisis there were three ´Talatonas´ being projected in an area called Benfica, Ramiro, Sossego, but with the current situation the constructions stopped and the land´s price is now lower. Its a good chance to buy now and wait for the economy recover.

https://www.google.co.ao/search?q=talatona&rlz=1C1GNAM_pt-PTAO683AO684&espv=2&biw=1366&bih=643&source=lnms&tbm=isch&sa=X&ved=0ahUKEwiCivnpsb7MAhUIchQKHTEBCtcQ_AUIBigB#tbm=isch&q=talatona+luanda


The optimism form Angola´s mining sector comes from the fact that back in 2013, it was announced that they had enough evidence to prove that the mining sector, diamonds in particular, was so big that if explored properly, it can surpass oil´s contribution towards GDP.

 

[Leandro2]

Once again I agree with what lookinginvest said.

Our history is full of conflict. Centuries of slavery, then a bloody fight against the Portuguese and afterwards a bloody fght with ourselves. Our civil war lasted for 30 years and indeed it caused a lot of damage.

After the end of the civil war in 2002, Angola changed overnight. Foreign comapnies flooded the country, people became millionaires overnigth and they had a happy life in a financially disorganized country with few taxes and fewer fiscalization for the small amount of taxes that are in place.


I was too young to do anything during the economic crisis of 2008, but I have always believed that the best time to invest is during an economic crisis. The catch is that one has to know how, when and where to invest during an economic crisis.


Angola is the right place, and this is the right time to invest. We will recover soon.


Just now I read some news that we have neglected for years the fact that we have vast reserves of natural gas. The oil was so profitable that we gave ourselves the luxury to ignore a resource that for some countries is the main GDP contributor.


http://www.angonoticias.com/Artigos/item/50580/sonangol-vira-se-para-a-exploracao-de-gas