The legal definition of real estate or real property is land and the buildings on it. Real estate law governs who may own and use the land in real estate in Ethiopia along with the rest of the world.
Real estate may be either residential or commercial. It can be owned by one person but can be used by another through rental arrangements. All land in Ethiopia belongs to the government. Land can be purchased or leased. And due to its high value, many local laws ensure real estate transactions are properly performed and recorded. Land may also pass between family members through estate planning or owned by more than one person.
State and local governments have rules concerning the purposes for which land may be used. For example, each plot of land must be used according to local zoning laws, and landowners may not damage the surrounding environment.
For Buyers/ Renters of Real Estate In Ethiopia
Who’s eligible to buy real estate in Ethiopia?
Anyone who meets the following three criteria can purchase property for sale
- Has Ethiopian citizenship
- Foreigners of Ethiopian origin
- Has Ethiopian parents
For Real Estate Developers In Ethiopia
All residential construction must adhere to comprehensive building codes and standards governed by local and state laws.
There are three categories of buildings:-
- A category ‘A’ building is a one storey building with a span of seven meters or any dwelling house not exceeding two storeys.
- Category ‘B’ covers buildings with a span of more than 7 meters or more stories not covered in category ‘C’ or a real estate development of category ‘A’.
- Any public or institutional building, factory or workshop building or any building with a height of more than 12 meters, falls under category ‘C’.
According to the law, for category ‘C’ construction permits issued at the city level, the building directive states that the evaluation period for the category ‘A’ projects and category ‘B’ real estate developments shall be 21 working days.
For category ‘A’ except for real estate developments, the evaluation period is 15 working days and for category ‘B’ the evaluation has to be completed in seven working days.
Building departments review plans submitted to them before construction, decide whether to issue permits or not. And inspectors verify compliances to these standards at the site during construction Codes regulating the design and construction of structures were adopted into law. Metropolitan Real Estate is a guaranteed benefit because we have two luxuries and one standard apartment. Our Central Tower Luxury Apartments are around AU headquarters. Our Westview Standard Apartments are located at Total Soset kuter Mazoriya.
Metropolitan Real estate provides contracting and consulting services for your projects. It values its role in the success of your project and takes all the steps needed to ensure the end product meets your needs. One of our services is facilitating the operation of filing for building permits which could be an in-depth task. We make use of our 20+ years of experience to ensure you are following the correct steps.
Metropolitan real estate PLC, is an American-based Real Estate company, building quality homes in Ethiopia to fulfill the needs of luxury real estate for sale and in Addis Ababa, Ethiopia. Metropolitan Real estate, has multiple ongoing projects named Metropolitan Central Tower Luxury Apartments are around AU headquarters. Metropolitan Westview Standard Apartments located at Total Soset kuter Mazoriya. If you are ready to begin your journey on the path to becoming a homeowner, contact us for more information, Ethiopian office: +251973404040 and USA office: +1 480 280 2242.