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Types of apartments in Addis Ababa

As you may have concluded on your own by now, there are a lot of options when it comes to renting OR buying homes in Addis Ababa. Similarly, there are also a plethora of choices when it comes to apartment types! Depending on your price range, choice of neighborhood, and living situation (roommate, significant other, family, etc.), you will also need to make a decision on what type of apartments to live in.

Studio

Any apartment which is determined by the number of rooms, regardless of the number of floors in a building is called a studio apartment. These type of residential units are a combination of living area, kitchen and bedroom in a single room.

Row Houses for sale in Addis Ababa

These are series of houses, which have identical plans and are located adjacent to each other sharing a common wall. Even though these type of apartments have the same architecture, appearance and design they are not considered as villas since they share a common wall.

Multistorey

These apartments consist of more than five floors with a common area and other amenities for the residents. It has multiple residential units in each floor with all the facilities required for living. Since it has more than 5 floors, lift facility is mandatory in such buildings to access easily other floors.

A Complex

is one large building divided into apartments.

A Duplex

may have originally been a house and has now been separated into two apartments. A duplex can also be one apartment with rooms on two floors.

Quadruplexes

are residential buildings separated into four apartments.

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What is Property Management?

Choosing whether or not to use property management companies is a hard decision for many real estate investors
Property management is someone who manages property. which is why we prepared this article, to help you make the right decision.

Have you ever thought about what that entails, though? Property managers have to wear many different hats to take care of the property entrusted to them.

Property management is the practice by which a third party is given the responsibility of maintaining a residence’s status quo and appeasing its occupants. Property managers are, therefore, traditionally hired by rental property owners to oversee the daily operations of their real estate assets and deal with any questions or concerns the tenants may have. In the event the property is vacant, it’s the property managers job to see to it the house is rented. As its name suggests, property management takes care of every aspect of a rental home, from marketing vacant space and signing leases to collecting rent and calling for repairs.

Let’s go into detail on the specific services of property managers

Opening Leases

After finding tenants who are trustworthy, a property manager opens a lease with the tenants. This involves scheduling move-ins with the tenant, scheduling rent payments, setting up rental insurance, completing a move-in condition report and making sure all legalities are completed.

Collecting Rent

After the tenants are moved into the rental building, the property manager’s job is then to collect rent at a specified time each month.

Provide Inspections

Property managers make sure the buildings are being kept clean and tidy through the length of the lease. Not only does this make cleaning up after the tenant leaves easier, but it increases the property value of the home or condo.

Providing Maintenance

For most properties, tenants don’t provide a lot of maintenance on their systems and appliances. Generally, a property manager provides maintenance for air conditioners, elevators, security system and so on. Usually, this maintenance occurs between tenants, but they also could provide the maintenance at scheduled times with the tenant. The property manager finds trusted contractors who will complete this maintenance on all of the systems and appliances throughout the home or condo.

Providing Repairs

If something on the property breaks down, tenants are instructed not to try and fix it themselves, and instead alert the property manager. The property manager should find a solution to the issues and complete the repair.

The single greatest benefit you can get as an investor working with property management companies is time. By enlisting the services of a good property management company like Addis houses real estate, you won’t be forced to manage the property yourself; you’ll be free to take on other responsibilities. For most investors, the added time will help them find and acquire more rental properties to add to their portfolio. For others, not having to manage a property simply rids their lives of unnecessary stress.

At Addis Houses we work tirelessly to relive you from the stress of managing your real estate properties. If you are in search of a reliable property manager, email us on info@addishouses.com  or drop by our office located at Bole Rwanda, Eden Building next to Abyssinia Bank, ground floor

 

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Overview Of Evergrand Real Estate

Evergrand PLC. was established in the year 2013 as a building material, researchers, developer, and manufacturer. After working for other Real Estate Company. In 2014 it was established as a Real Estate Development Company in Addis Ababa, Ethiopia with a vision to incorporate the most modern features and quality finishing residential projects. Rich experience from Around the world and from the past projects like Tsehaye Real Estate, independent owned homes, Commercial complexes and specialized projects like upscale development, gave Evergrand the necessary impetus to embark into the development of multi-storied residential projects armed with the necessary expertise and better customer understanding.

Their signature project Sky Apartment has been very well acknowledged by many for its top quality which encouraged Evergrand to launch more such residential projects.

Now Evergrand is presenting you a brand new apartment located in Bole, Picok.

These apartments reflect functionality, comfort, privacy, aesthetics, and economy with basic functions namely; living, dinning, bathing and sleeping. these functions according to their nature can be broadly divided into dynamic and static. the design is of suitable residential living space for different family structure and different age levels.

 

 

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Buying House In Addis Ababa

There are so many apartments being built in different parts of Addis Ababa that fits every budget. There is a growing demand for apartments in town and the government is also encouraging landowners and builders to build high rise apartments due to the fast-growing population of Addis Ababa. Apartments are generally more affordable to buy and rent compared to villas.

Government builds many condos all around town to meet the demand for affordable housing whereas private builders are usually catering to buyers looking for more luxury apartments which offer elevators, generators, better finishing, and safer buildings.

Apartments built by private developers are selling anywhere from 25000 ETB per sqm up to 55000 ETB.

You can find more affordable apartments usually on the outskirts of town like CMC, Ayat, Summit, Lebu etc, while more central and desirable locations like Bole, Sarbet etc. have apartments with higher prices per sqm

Reasons for buying house in Addis Ababa

Capital Of Africa

Addis Ababa is the capital of Ethiopia with a 3.8% growth rate. Population growth of the city exceeds the growth rate of the country. Therefore, property values always go up.

High Demand

Addis Ababa hosts more than 100 embassies in addition to NGOs and multinational companies.

Quick Return On Investment

Buying real estate in Addis Ababa is a very good investment since the rent rates are higher due to increasing demand for quality housing. In many parts of the world your real estate investment pays itself off in 25-30 years, however, you can get your money back in as little as 7-10 years in Addis Ababa. Thanks to the high demand from expats and diaspora ready to pay high prices for good housing.

Nice environment to live in

Addis Ababa has a very favorable weather year round. There is no snow and no below zero temperatures. No humidity makes your outdoor activities very enjoyable throughout the day and year round.

Investment opportunity

Instead of keeping your money as cash in the bank, if you buy real estate you not only receive cash flow but also protect your money against deflation. Since you cannot buy an empty land in Ethiopia and there is no stock market established yet, real estate is a smart investment.

If you need help in deciding what kind of property to buy or where to invest to get a better return for your investment, we can help you with our years of experience in Addis Ababa real estate market. Call us at +251 91 178 3515. We are here to help.

 

 

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Real Estate Properties For Sale In Ethiopia

Agricultural properties

Farms

A Farm is an area of land that is primarily devoted to agricultural uses, producing food, plants, raising livestock.

Ranches

A ranch is similar to a farm and can be synonymous. However, the essential difference is that a farm produces food and other crops and a ranch serves the purpose of raising grazing livestock, e.g. cattle, sheep, etc.

Orchards

An orchard is real property that contains planted fruit trees, e.g. apples, oranges, grapes, etc

Residential real estate

Single-family Homes

Single-family homes may include detached or attached homes, e.g. townhouses. Single-family homes perhaps are the most widely used and most popular housing types for real property.

Apartment Building

Apartment buildings or multifamily units allow many crowded areas to obtain housing for people.  These buildings may also obtain security, clubhouse, laundromat, parking, swimming pool, fitness club, and in some cases a golf course.

Condominium

The condominium is the same as an apartment building except in terms of ownership. Where an apartment building is owned by one business or owner. Condos may be owned individually.  These condominiums will have a homeownership association or management that will be responsible for the general maintenance of the building.

Commercial properties

Office Space

Office space is a property that has an area that allows the business activity to take place.

Shopping Centers

Shopping centers are real property that largely deals with retail.

Stores

The retail market is another investment area that can expand an investors portfolio.

Theaters

Entertainment, such as theaters and movie complexes. This is another alternative investment that investors overlook.

Parking Facilities

Another alternative and overlooked type of real property are parking lots.

Industrial properties

Warehouses

A warehouse is a facility that is used to store goods and resources.

Factories

Factories can also be known as a manufacturing plant and consist of buildings, machinery, and equipment where goods are manufactured in a complex systematic operation.

 

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Investing in Agriculture

Like all sectors, agriculture is really a spectrum of activities that overlap with each other and even with other sectors. The simplified version is that producers grow crops and raise livestock to sell to processors, who prepare and package the product before it ends up on the grocery store shelves.

Investing in agriculture is typically a long term venture. Returns vary depending not only on commodity prices, but on how much and how fast the land appreciates.

There are many reasons to invest in agriculture: it is a low-risk investment that keeps pace with inflation and increases in value over the long-term, it is a tangible asset that provides benefit to the community, and it can diversify a portfolio. But how exactly does an investment like this make money?

Yield

Investors can make money from cash flow from crops that are harvested. Most crops are annual, but in some locations there can be multiple harvests per year. In certain cases, these yields are secured via long-term contracts with tenant farmers or from customers who agree to purchase the crops.

Land Appreciation

farmland is an always appreciating value

Forced Equity

Much like in real estate, an investor can add value to their property by making improvements. In agriculture, this can include turning raw land into crops or pastureland. Also, swapping out lower end crops such as commodity or row crops to higher end crops like trees, or converting farmland from conventional farming to higher return organic farming can increase the value of the investment. Equity can also be built by improving the buildings and infrastructure on the land.

Looking for guidance o your investment endeavors? Contact us

Even when we are not instructed to make investment decisions on your behalf, we can provide guidance to help you develop an asset allocation strategy and investment guidelines in Ethiopia. With our comprehensive, consultative approach, we develop an awareness of your financial circumstances and tailor an approach to your needs.

 

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Why Hire Property Managers For Your Properties in Ethiopia?

In most cases, landlords hire property managers in Ethiopia when they own several properties in the city. It might be such a workload trying to manage all your estates alone.

This is where a property management company comes in handy. With our professional skills and experience, you can sit back and relax knowing that your property is in good hands. So, why should you consider hiring a property manager? Read on to find out.

Decreasing tenant turnover

Good property management companies know how to keep their renters happy. They are responsive, available and take care of problems as they arise. Happy renters are less likely to look for another place to live and more willing to accept reasonable rent increases.

Ensuring rent is paid on time

Since many property management companies deduct their fees from the monthly rent, they are motivated to keep those payments flowing in. Consistent rent collection is the key to receiving rent payments on time, and a property management company will enforce lease policies if payments aren’t received.

Reducing your headaches

When dealing with properties, you are often required to deal with several situations that arise from time to time. If someone else is handling the daily management of your property and tenants, you’ll have fewer complications and commitments to worry about. If more time and less stress are key to your quality of life, a property management company can be a great asset.

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Hong Tu Star Apartments for sale in Ethiopia

HONGTU STAR Luxury Apartment Project, invested by HengYang Inverstment Co., Ltd and undertaken by HONGTU REAL ESTATE PLC, located in Lebu Area, Lafto Sub-City, Addis Ababa. Beautiful scenery, about 12 km from Bole International Airport, about 3 km from the city center. The top design consultant team,China Shenzhen design Company works for this design as the design consultant. Their design idea is full of humanism, and appreciate the modernism, high-grade, simple, and comfortable design style. HONGTU STAR adopts the design of B + G + 9, of which B+G will be used as 54 standard parking spaces. The first floor up to ninth floor will be designed as 54 suites of different types ranging from 88㎡square meters to 173㎡ equipped with two sets of lifts. 1 convenience store, 1 gym, 1 sauna room, CCTV monitoring system, solar water heaters, and water purification system will be presented for a high-quality life.

Features

Security

An automatic electronic security system is adapted to take strict control over the entrance. Any attempted entrance without approval will be rejected and in this way, to protect the personal and property safety of all people in buildings.

WATER PURIFICATION

for green habitation, the most advanced water purification system is adapted to remove any sand, impurity or harmful substances in water efficiently so that the water is drinkable

POWER SUPPLY

A New photovoltaic solar power supply system is introduced to guide the emergency power supply and energy saving and emission reduction of the whole community, including solar energy water heater, solar energy power supply system, solar energy street lamp, etc. Meanwhile, a backup power generating system is installed to ensure the power demands in case of unexpected power off!

ELEVATOR

For years the Company has maintained a close relationship with the world famous elevator brand MITSUBISHI to make owners safe and comfortable, convenient and assured.

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Hongtu real estate

Hengyang Investment Co., Ltd. was founded in 1998 in Chengdu Hi-tech Development zone, China, where most high-end industries in middle-western China group, where innovation and pioneering resources concentrate, where the best investment environment is provided. Since establishment, the Company has always adhered to the idea of “practical, persistent, sincere and developing ” in its 18 years’ development, with all housing and commercial project acknowledge and supported by consumers. An annual profiting increasing rate of 10% is maintained to repay the consumers and investors maximally. Now the company is going to create another future again by incorporation of “Hongtu Real Estate ” in Ethiopia, Africa, which will make advantages of the parent company’s experience in real estate to take charge over real estate development project in Africa

HONGTU STAR Luxury Apartment Project, invested by HengYang Inverstment Co., Ltd and undertaken by HONGTU REAL ESTATE PLC, locates in Lebu Area, Lafto Sub-City, Addis Ababa. Beautiful scenery , convenient transportation , about 12 km from the Ethiopia capital Addis Ababa Bole International Airport , about 3 km from the city center . The top design consultant team,China Shenzhen design Company works for this design as the design consultant . Their design idea is full of humanism, and appreciate the modernism, high-grade, simple,fashion and comfortable design style. HONGTU STAR adopts the design of B + G + 9, of which B+G will be used as 54 standard parking spaces. The first floor up to ninth floor will be designed as 54 suites of different types ranging from 88㎡square meters to 173㎡ equipped with two sets of lifts. 1 convenience store, 1 gym, 1 sauna room, CCTV monitoring system, solar water heaters and water purification system will be presented for a high quality life.

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Questions to Ask Before Real Estate Investment

it’s widely accepted that a strong real estate investment has the potential to generate considerable wealth. despite its many advantages, real estate can be a complex investment. With today’s wide availability of opportunities, it’s as important as ever to know how to approach all types of real estate investment methods. Hence, it’s a good idea to ask yourself the following questions to make sure it’s the right choice

Do you have the time and expertise to invest actively? or would it make more sense for you to invest passively?

love the idea of being a landlord? Look at active options. Alternatively, simply don’t have the time to deal with properties and tenants first-hand? Consider passive investments

When Will I Start Seeing Returns?

Real estate investing isn’t like trading stocks or buying mutual funds. You’re probably going to have to wait a while to see investment returns. If you’re trying to get rich quick, real estate investing might not be your best bet.

What’s My Risk Tolerance?

A certain degree of risk is inherent in any investment and you need to know exactly how much risk you’re willing to take on before diving in. With real estate, it’s important to recognize that risk levels can vary.

What makes a particular real estate investment attractive to you? 

“Money!” might seem like the obvious answer, but responses can differ as much as people themselves. Knowing what matters most to you in an investment will help you determine a clear view of what success in this investment can look like. It will most likely involve a return goal, but will it include any other aspects, benefits. or responsibilities?

Well, Investing in real estate isn’t for the faint of heart. Before getting into it, it’s a good idea to evaluate individual investment opportunities and take stock of your goals. That way you can figure out where you can afford to invest your money.