If you are a homeowner who decided the house is no longer suitable for your needs, or a renter who has a strong desire to become an owner living in Ethiopia, Addis Ababa, you may be hoping that waiting until next year could mean better market conditions to purchase an Apartment.
To decide whether to buy now or wait another year, ask yourself one simple question:
In a year’s time, where will home prices be?
Let’s shed some light on the answer to this question.
Three major housing industry entities are projecting ongoing home price appreciation in 2022. Here are their forecasts:
- Fannie Mae: 7.4%
- Freddie Mac: 7%
According to Expatica, the median price of a home today in Africa is 937,000$. Using an average of the three price projections above (6.5%), An Apartment that sold for $353,900 today would be valued at $960,004 at the end of next year. As a prospective buyer, you would therefore pay an additional $23,004 by waiting. Metropolitan Real Estate is always in the sector of providing apartments worth investing in, with over 25 years of experience.
BOTTOM LINE
When asking if you should buy a home, you may think of the non-financial benefits of homeownership. When asking when to buy, the financial benefits make it evident to wait now is far superior, until next year.
Today’s competitive market makes it more essential than ever to make a big offer on an Apartment. Let us connect to make sure you rise to the top along the way.
Let us connect today, on Metropolitan Real estate, which has multiple ongoing projects such as Metropolitan Tower at Bole Rwanda in front of Mamokacha cafe. Metropolitan Central Tower Luxury Apartments are around AU headquarters. Metropolitan Westview Standard Apartments is located at Total Soset Kuter Mazoriya and the Metropolitan Residence located around Bole Main Road, In front of Mega Building. contact us with the Ethiopian office: +251973404040 and the USA office: +1480 280 2242.
SOURCE: Paige Rose
