Luanda is in the throes of a property boom. Financial Times
Prime office space in the centre of the city overlooking the bay sells for about $6,500/sq m (€4,640, £3,250), reports Paul de Sousa, senior partner of KPMG in Angola.
The average flat rented by an expatriate businessman costs $12,000-$15,000/month.
‘It’s higher than in Tokyo or New York,’ says a western diplomat. ‘It has to be the highest rental market in the world.’
Angola’s booming economy is expected to grow this year by 20%-30%.
‘Clients who come from South Africa look at the prices of opening up an office and say “Whoa! This is expensive”,’ says de Sousa.