CLEAN : Taste for luxury Ethiopias new elite spur housing boom

The video discusses the development of a prime location, likened to a 'little Manhattan', highlighting its appeal to upper-middle and upper-class clients. Initially, the area attracted international clients, but local demand has surged as the economy improved. The demand for luxury real estate is high, with properties priced over 7 million being particularly sought after. Despite no advertising, there is a significant backlog of potential buyers, indicating a strong market for high-end properties.

What is the primary appeal of the new apartment complex's location?

• It is close to a major highway.

• It is in a quiet suburban area.

• It is likened to a 'little Manhattan'.

• It is near a large shopping mall.

How has the clientele changed as the economy improved?

• The clientele remains mostly upper class.

• There are more international clients now.

• The demand for apartments has decreased.

• The clientele has shifted to mostly local people.

What is the current demand situation for housing in the area?

• There is a surplus of available houses.

• There is a backlog of over 200 people waiting to buy.

• There is no interest in luxury real estate.

• The demand is met with the current supply.

What price range are potential buyers interested in for luxury real estate?

• Below 1 million.

• Between 1 million and 3 million.

• Between 3 million and 5 million.

• 7 million and above.

What trend is observed in the luxury real estate market?

• A stable interest in mid-range properties.

• An increase in searches for properties priced at 7 million and above.

• A decrease in high-priced property searches.

• A shift towards more affordable housing options.