Sure Deal gaps of Real Estates in Mbarara City.
Here are a few facts you need to know about this fast-growing City; The real estate market in Mbarara City has been steadily growing since July 2020 when it was upgraded from Municipality to a City. Investors have been taking advantage of the economic growth of the city to reap the opportunities that have come with this development. As for the real estate industry, there’re several real estate trends that investors should keep in mind when considering investment opportunities in this city.
The first one is the continued growth of the middle class. Mbarara City’s employment base has more than doubled since it was granted city status, and several employment positions that earlier never existed came into force both at the city headquarters and divisions. For example, since last year Mbarara City has been able to advertise over 100 jobs both at the centre and in its divisions. But also several investors have come in and are setting up factories, investing in the hospitality and tourism sector, all these changes give rise to a middle class, meaning an increased demand for quality housing and commercial properties. The above means an investor who will cater for the housing needs of this middle class is likely to get significant returns.
Secondly; There has been Increased investment in infrastructure. Significant improvement in the City’s infrastructure by the Central government and Mbarara’s road network, power and water extensions. This investment is driving demand for real estate in most of the areas in the city. If you are an investor it’s ideal to capitalise on this improved infrastructure extension and connectivity to invest in the real estate sector because these amenities will be a pull factor for the population to buy land and invest in such areas.
The demand for affordable housing. The number of people coming to Mbarara city continues to grow now and again, especially those looking for employment opportunities. The growing population has also fueled the growing demand for affordable housing which presents an opportunity for investors who can provide low-cost houses.
Low-cost houses remain a challenge, which is why some of its population remained confined in slums where living conditions remain so wanting, so buying land and building low-cost houses can be an ideal business opportunity to reap so quickly.
There is also increased demand for commercial real estate. The economy of Mbarara city is steadily growing, new factories are being built, markets and institutions both government and private are coming up, and this means the demand for commercial real estate, which may include offices, industrial spaces, and wholesale and retail businesses is getting high demand. So if you can identify and capitalise on providing commercial spaces, then you are likely to see better returns.
Also as the population increases, there is increasing demand for food. Remember some of the spaces that could have been used for farming are already being consumed by developments. This means that buying land and investing in urban farming can be an ideal opportunity to reap big, remember urban farming does not require a big chunk of land, you can even use your home to do farming like on balconies, footpaths, rooftops and be able to earn.
