Comoros Property
The market for Comoros properties has been growing in recent years. The growth in residential and commercial property ownership is the result of several trends including international aid, increased tourism, inexpensive properties, and the nation’s relationship with France. Investors and business owners who want Comoros property need to keep these trends in mind before taking the plunge.
The politics of the Comoros have influenced the expansion of outside investment in open plots of land. Every island in the Comoros except Mayotte is independent from European, African, and Asian influence. This independence means that local rulers in Ngazidja, Nwali, and Nzwani are eager to decrease barriers to investment. The high costs of education, infrastructure, and economic development that have accrued since independence make the Comoros property market an important revenue source in this developing nation.
The cost of properties on Mayotte is exponentially higher than the three islands that form the independent portion of this island chain. France supports Mayotte’s rising tourist industry with millions of euros every year. Beachfront and elevated plots receive enough bids to make this a competitive real estate market for investors. The tradeoff for residential and commercial investors in the Comoros is high property value growth as well as abundant foot traffic.
Investors need to consider the high population density surrounding Comoros properties before building homes and businesses. The latest figures from the United Nations and other international organizations show that 40% of Comorian residents live in urban areas. This figure has increased greatly since the turn of the 21st century and indicates an overall decrease in empty lots. A shrewd investor should look for occupied lots with failing businesses to pick up affordable commercial space.
The expansion of urban areas has pushed the city into agricultural areas. The Comoros have relied on ylang-ylang, vanilla, and other agricultural products to draw investors from international companies. Investors who want to invest in Comoros should consider an investment in the nation’s staple products. The creation of local roads, new structures, and new products inherent in your investment creates a profitable situation for your business and the community. This commitment to investment with a social conscience can be difficult for some investors who want to flip properties and stay clear of local entanglements.
There are multiple ways to leverage Comoros real estate for profit, as well as for the benefit of the local community. Hotels, restaurants, and small shops bring in money from foreign travellers, while supplying jobs to young Comorians who may leave for other countries. A portion of agricultural and open land can be maintained as community gardens, green spaces, and public squares bearing your company’s name. The creation of commercial properties along an entire street with a locally imagined aesthetic helps consumers feel like they are invested in your business.
The final benefit of your investments in the Comoros arises when students and young professionals grow into entrepreneurs. Your former employees and managers may become neighbors in the business community years down the road. The competition, as well as the sense that your commercial investments have a long-term impact, is beneficial to your interest as well as the future of the Comoros.