Real-Estate To Be Reined In

June 2008 | Ratings Update

The Angolan authorities are taking steps to counter spiralling real-estate prices in the capital Luanda. A surge in population, investor interest and the lack of building materials have conspired to send house prices soaring in recent years, making Luanda the world's most expensive city for expatriates. According to a recent study by Macquarie First South Securities, the average selling price per square metre in Luanda is $5,000-$7,000, meaning the majority of local residents are priced out of the market.

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