Ethiopia has devaluated its Birr exchange rate of Birr by 15 percent against international currencies and announced by the National Bank of Ethiopia, on October 10, 2017.
It is said to improve the country’s export sector, by making it commutative in the international market that has been performing low over the past years; but what about the real estate properties values?
The effect on Diasporas
Well, obviously the Diasporas (Ethiopians living abroad) will benefit from at least 15% more value of their foreign currency, resulting in 15% immediate discounts on all Real Estate purchases to be made in Birr. It is simple as that. If you were patient waiting for Sunrise Real Estate Luxury Apartment Homes, you are lucky. You will find the Apartment Homes for Sale in Addis Ababa, Summit area at 15% less than what you would pay for them. This is simply because the foreign currency has more value now in Birr (15% more) and you get to spend less in foreign currency.
The effect on Local Buyers
Local buyers will not be affected right away, as already built structures like Sunrise Real Estate Beautiful Apartments in Addis Ababa, Ethiopia have over 50% completed with imported construction materials before the effect. Sunrise Real Estate will not be unfair; but consider its cost and comes up with a fair price that is affordable for buyers, with the quality its all properties are known for. The Ethiopian Currency devaluation will have an effect in all future imports, which will slightly affect Ethiopian Buyers with local currency. The effect will be less than 7%, as most of the development is completed.
Should Real Estate Owners worry?
If you used your foreign currency recently to buy a Real Estate, you would have a 15% advantage to purchase it now. If you are a Diaspora Real Estate buyer, you are in luck. This actually is a good time to look at the quality Apartment Home you are looking for and buy Real Estate Homes and take advantage of the effect the currency makes to your purchase. If you are a local buyer, the effect will be low and fair, at least at Sunrise Real Estate. Register Now to receive calls and E-Mails when we start selling these beautiful and affordable Apartment Homes in Summit, Addis Ababa, Ethiopia.
When is Sunrise selling its Apartment Homes?
Sunrise Real Estate is on its final stage to announce its affordable prices, payment options and actually give the apartments to buyers. While thousands, knock our doors and request online looking for immediate purchases, we want to make sure properly calculated fair value is proposed to buyers and the buying and selling process is of a mutual benefit to our customers and our real estate.
Comparing Sunrise Apartment Homes
Sunrise Real Estate is not comparable with most of other Apartments in its quality. Our apartments have similar or better finishing than the 34 Villas for Rent in Addis Ababa, Summit, next to the Apartment Homes. If you are in Addis, do not purchase any Real Estate before visiting Sunrise Real Estate or you will regret it. It is going to be a home you don’t want to leave, with everything including Kitchen Cabinets fit and working. Beautiful Spot Lights and Flooring, Landline phone line, Broadband WiFi line, Satellite TV Cable will also be completed before you move in. The Apartment Home Compound is beautiful, with green area, swimming pool, 3 Ground Tennis Courts, Restaurant, Bank, Supermarket, Daycare service, you name it. These facilities and the beauty will give you peace of mind. Have a little patience and you will get the your dream Home.