Investing in Djibouti

[Sa7rawy]

ASC

I’m enquiring about land investment in Djibouti, whether in the capital or outside. Do you have information about areas and neighborhoods? Looking for average plot costs in different areas.
How is the market overall now vs 5 years ago? Expectations for 5 years from now? What are purchasing / stamp duty costs?
Are there purchase limits for foreigners?

 

[Invader]

ASC

I’m enquiring about land investment in Djibouti, whether in the capital or outside. Do you have information about areas and neighborhoods? Looking for average plot costs in different areas.
How is the market overall now vs 5 years ago? Expectations for 5 years from now? What are purchasing / stamp duty costs?
Are there purchase limits for foreigners?

Don't buy land in the slums.

Buy it in the developed quarters.

Haramous is for the upper class.

 

[Sa7rawy]

Thanks brother. Looks like Harmous is district / quartier 20 - I will look into it. Do you recommend any other districts?

Heron Marabout Gare Sepent Republic Financial Center Boulaos Einguella Sacuudi Q1 Q2 Q4 Q3 Q6 Q5 Q7 Stade Gabode Guelleh Batal Haramous Aviation Djebel Ambouli Kartileh PoudriEre

26. Arhiba 27. Makka Al Moukarama 28. Wadgir 29. Gachamaleh 30. Palmeraie 31. Progres 32. Fiyetnam 33. Cheik Moussa 34. Cheik Osman 35. Balbala Caadi 36. Bahaache 37. Balbala 6 38. Gouled 39. Barwago 40. Hayableh 41. Cagdaalis 42. Bambada 43. Wahle Daba 44. Nassib 45. Hodan 46. Layableh 47. Gar Gaar 48. PK12 49. PK13

 

[Invader]

Thanks brother. Looks like Harmous is district / quartier 20 - I will look into it. Do you recommend any other districts?

Heron Marabout Gare Sepent Republic Financial Center Boulaos Einguella Sacuudi Q1 Q2 Q4 Q3 Q6 Q5 Q7 Stade Gabode Guelleh Batal Haramous Aviation Djebel Ambouli Kartileh PoudriEre

26. Arhiba 27. Makka Al Moukarama 28. Wadgir 29. Gachamaleh 30. Palmeraie 31. Progres 32. Fiyetnam 33. Cheik Moussa 34. Cheik Osman 35. Balbala Caadi 36. Bahaache 37. Balbala 6 38. Gouled 39. Barwago 40. Hayableh 41. Cagdaalis 42. Bambada 43. Wahle Daba 44. Nassib 45. Hodan 46. Layableh 47. Gar Gaar 48. PK12 49. PK13

I personally come from Ambouli.

Ambouli is split into two sections 1 and 2.

Ambouli 1 is predominantly Arab.

Ambouli 2 is predominantly Somali.

Heron is people who are nostalgic about French culture.

Many French and expats live there.

You can see some French mansions there too.

It's close to a beautiful beach(Siesta) and countless hotels.

 

[Sa7rawy]

Thanks brother. What is your opinion about investing in real estate there? Your local knowledge is very appreciated.

 

[Invader]

Arhiba is predominantly Afar.

It means Welcome in Afar.

Don't go there. It's a No-Go Zone.

There is youth there who are Anti-Somali and will throw rocks at you.

 

[Invader]

Thanks brother. What is your opinion about investing in real estate there? Your local knowledge is very appreciated.

Just stay wary. The good looking neighbourhoods are good investment like Heron/Haramous.

Don't say anything political besides saying IOG is a great president.

Heron and Haramous(20) are near the beach.

 

[Sa7rawy]

Thanks again brother, I will do more research and inshallah I will do a visit in January to explore opportunities there.

 

[Pipit]

Don't buy land in the slums.

Buy it in the developed quarters.

Haramous is for the upper class.

What’s the most developed quarter in djib city?

 

[Invader]

What’s the most developed quarter in djib city?

Haramous.

Heron is like the area with the French architecture.

 

[Craftman10]

Hi, land prices are skyrocketing in Djibouti, for instance in 5 years they have almost doubled.
What kind of land do you want to purchase ? is it for home construction purpose of for business? most of the neighborhood you have listed are already full and it is really difficult to find land there . Average land price per sqm is around 100$ for Balbala area and can go up to 300$ or more for area like Haramous or Salines which are upper class neighborhood.

 

[Ghengis Kaarhis]

@Saredo cousine, frangine, faut chassez les français de chez toi eh

 

[Sa7rawy]

Where does Haramous end and Haramous Sud begin? I have found plots of land for sale in Haramous Sud but on Google Maps it looks to be empty land between the airport and Lootah Village. I think Haramous proper is around the US embassy, Lootah and president's residence.

For me, Heron seems more developed and easier to walk around, restaurants, seaside, etc. I'm leaning towards Heron or in a very developed part of Haramous. The prices I have seen for land in very good areas is 60,000 francs per meter sq. That gives you idea of recent prices, you can multiply by the size.

Does anyone know building cost for an F5 (4 bedroom plus salon) or F6 villa in terms of per meter cost?
Who are the big builders for quality real estate? Are they honest/reliable?
How long does it take to build a house there?
How are the permit/city approval process?

 

[Craftman10]

Indeed Haramous Sud is adjacent to the airport and for time being it is mostly empty plot's land, but knowing the pace which houses are being built it will probably going to be populated in the next 2 to 3 years.

If you can afford Heron is definitely a better place which is also very close to city center, main business office, hotels and restaurants , etc....
There is several construction company but you have to be really on their neck and monitor closely otherwise they will deliver a crap job.
For the cost I'm not familiar with such details but better visit the place and discuss with architect or civil engineer, they can do for you the house plan and can give you also accurate costing.
Do you have any family or relatives here ? if they are reliable they can do much of this work for you.

 

[Sa7rawy]

Good advice. I have some family but it’s hard to find reliable people over there.

Another option is to buy a ready built house. But they seem quite expensive as well from 60 million francs to 90 million. Are they very flexible/negotiable? With many expats leaving due to COVID and resulting pressure on rental market/economy, I’m hoping for a great deal this winter!

House 1 in Haramous is asking 90 million or $500k usd!
House 2 in Saline Ouest is asking 62 million or $350k usd

 

[Craftman10]

It is good idea to wait maybe at least until 1st quarter of 2021 InshAllah and see how badly Covid 19 will affect real estate and housing businesses in Djibouti , my guessing is price will drop but not very much.
Regarding price it is Africa and people are always open to negotiations but market prices for already built house is crazy, best you can get is maybe 10 % discount then you have to pay notary fees after that.
It is always cheaper to built once you have secured the land imo.