Real estate recession in Sudan’s capital
Real estate agents in Khartoum reported a recession in the land and housing market during the first days of April.
Early this year, the real estate market witnessed significant movement, but it fell again early April, a housing broker told El Meghar newspaper. He attributed the drop to the current economic situation, expecting the market to recover after the general election.
The lowest price for a plot of 600 square metres in the affluent Riyadh and Manshia districts in Khartoum is SDG4.5 million ($750,000). In the Taif neighbourhood, a similar plot cost more than SDG3 million ($450,000). Prices of houses in Riyadh amount to SDG5 million ($832,000), and in Taif SDG3 million.
In Omdurman, in the large middle class area of El Sawrat, a piece of land of 300 square metres is sold for about SDG3 million, while the prices of houses range between SDG3 to 3.5 million.
The price of a plot of 300 square metres in the popular El Haj Yousef district in Khartoum North lies around SDG120,000 ($20,000).
The broker further noted that the demand for agricultural plots near the Sudanese capital is growing fast. “People see possibilities for investment in food production, in particular poultry farms. The prices of land west of Omdurman are skyrocketing,” he said.
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