How to Buy Real Estate in Ethiopia: Interview with CEO of GojoSuites

Single family villa in Addis Ababa, Ethiopia. (Photo courtesy of GojoSuites)

Tadias Magazine
By Tadias Staff

Published: Wednesday, October 8, 2008

New York (TADIAS) – We recently spoke with Valerie Steele, CEO of GojoSuites – a brokerage firm that sells property in Ethiopia – about the current real estate market in that country.

Prior to her current position, Steele served as the Director of International Development for the Organization of Rehabilitation and Development in Bahir Dar, Ethiopia.

Here is our interview with Valerie Steele:


Valerie Steele: CEO of GojoSuites

TADIAS: Please tell us about GojoSuites.

Steele: GojoSuites is a subsidiary of African First Real Estate Finance LLC (AFREF) and was developed to serve the Ethiopian diaspora who want to buy homes in their homeland. AFREF is currently developing additional companies that will serve diaspora from other African countries. GojoSuites has an exclusive contract with Ayat Share Company, Ethiopia’s real estate pioneer.

TADIAS: We understand that you recently relocated to Washington D.C. from Bahir Dar to become the CEO for GojoSuites. What attracted you to get involved in the real estate business in Ethiopia?

Steele: The Ethiopian real estate market, as the diaspora knows, is booming and it’s an exciting opportunity for Ethiopians around the world. When I lived in Ethiopia, I saw firsthand the development of new homes and neighborhoods with amenities only previously available in western countries. I know that the diaspora has a desire to be reconnected and I see the lack of connection between the developers and the home seekers and feel I could make a difference in bridging the gap.

TADIAS: You’ve mentioned that you have an “exclusive contract with Ayat share Company” in Ethiopia. Why only Ayat?

Steele: We chose to partner with Ayat because they are so well established and have gone through the learning curve to figure out what works and what doesn’t. With 12 years of experience and the fact that they have built and delivered more than 4,000 houses, they are truly the experts.

I spent a month with Ayat to understand the way they operate and to build the relationship with them so that we can effectively represent them in the US.

TADIAS: Why should people purchase a home in Ethiopia?

Steele: That’s a very personal decision. For some people, it is about providing a beautiful home for family members who live in Ethiopia. For others, it’s about making sure there is a place for them to return to live when they retire. And others recognize what an incredible investment it is since the Ethiopian real estate market has been hot for several years and is expected to continue to be in the foreseeable future.


Photo: Villa – single family house – in Ethiopia (courtesy of GojoSuites)


Single family villa in Ethiopia (photo courtesy of GojoSuites).

TADIAS: Who is legally eligible to buy property in Ethiopia from overseas?

Steele: Anyone who meets one of the following criteria:
1. Has Ethiopian citizenship and lives abroad
2. Foreign nationals of Ethiopian origin
3. Has Ethiopian parents

TADIAS: How affordable is a new home or apartment? What is the average price in your market?

Steele: Ayat is working hard to make housing affordable for those who have been unable to buy in the past. They are offering mortgage financing (50% financing for villas and 40% or 67% financing for apartments). And they are offering a unique plan where the buyer can lock in a price today and delay delivery of the home for up to five years. This gives the buyer more time to save money so that they can finance less of the cost of the house and save interest.

Ayat apartments start at $42,951 for a two bedroom 62m2 home. Villas (single family houses) start at $144,941 for a two bedroom, 72m2 home. These prices include the 15% VAT and land lease. Also, Ayat is offering 5% discount off the base price (not including VAT) of a new apartment home in Ayat Mender until October 31. The prices for all Ayat homes will increase November 9 so, for people who are ready to buy, now is a good time.


Apartment building illustration (Apartments are currently under construction).

Some people tell us the prices are high but those are individuals who have not been to Ethiopia for many years and do not realize how prices have changed since they were last there. In fact, the customers who buy Ayat homes are quite satisfied with the prices and, to our knowledge, Ayat homes are actually priced below market rates.

TADIAS: Are there are any U.S. taxes, fees or penalties that potential customers would need to pay Uncle Sam for owning land in Ethiopia? Also are there any hidden fees from the Ethiopian government that we need to know about?

Steele: We are not aware of any taxes, fees or penalties that would be owed to the US government for owning property in Ethiopia but we always advise people to check with their tax person or accountant on matters such as these.

As far as fees from the Ethiopian government, there is value added tax (VAT) which is 15%. VAT is included in the published price of all Ayat homes. There is also the title deed transferring fee of 6%, which is not included in the published price.

TADIAS How does financing work for U.S. residents?

Steele: Prospective buyers have several options. They can pay cash as a lump sum or on an installment basis as their home is built. The final payment is made at the time the home is turned over to the buyer.

Or, as I mentioned above, they can select from Ayat’s financing options. Ayat lets the customer choose the length of the mortgage for up to 30 years. We are not aware of anyone else offering a financing option this long.

5% will lock in the price of any villa or apartment for up to 90 days after the expiration of that price. 10% is needed to get a contract on a specific property.

TADIAS One of the biggest complaints we hear from Diaspora homeowners and investors is that new houses are never completed within the time frame that clients are promised. Is that a problem that people should expect?

Steele: Ayat and other builders experienced delays in the past due to limited availability of raw materials, such as cement, steel and other imported construction items, lack of access to construction financing and outdated construction techniques. GojoSuites and Ayat are aware of this issue and are creating solutions to overcome it. For example, GojoSuites is partnering with Ayat to identify new approaches to construction that can speed up the process. And Ayat is researching the potential for building their own cement factory so they will be less reliant on external vendors. Initiatives such as these are giving Ayat the confidence to guarantee us there will be no delays.

TADIAS: What advice would you give to someone who is considering acquiring a primary or second home in Ethiopia?

Steele: We are not in a position to give advice to prospective buyers but we can reiterate what we know from those who have chosen to buy a home. It’s a wonderful way to connect with your homeland and help or be near to the people you love. Having lived in Ethiopia, I have a deep appreciation for the closeness of families and the beauty of many local traditions, so I understand why people who grew up in Ethiopia want to reconnect. And it’s a great investment opportunity.

TADIAS: What is the most challenging issue you face as a Real Estate Professional for property in Ethiopia?

Steele: Helping customers overcome the negative stigma that was associated with home real estate development in the past. Real problems occurred and, though Ethiopia has not reached the level of speed and predictability that exists with home construction in the US, it’s come a long ways and we expect that improvements will continue over time.

TADIAS: Tell us one of your client success stories or an interesting moment in your profession.

Steele: A woman who recently visited our office has been helping out an older woman and a young orphaned girl who live in Addis Ababa, both of whom have no families. Her dream is to buy a home for them where they can live together and become a family for each other. Another couple has children that are nearly grown and they want to buy a home in Addis so their sons can visit and become more connected with their Ethiopian heritage. These are examples of the fun part of my job of making people’s dreams come true.

TADIAS: How do you expect the housing market in Ethiopia will be affected by the global meltdown in real estate?

Steele: So far so good! The Ethiopian real estate market continues to grow at an astounding rate, despite all of the unprecedented and shocking situation in home real estate in the US. In fact, we wonder if it will make buying a home in Ethiopia even more attractive because people feel safer investing there than they do in the US right now.

TADIAS: How do you advertise and how can potential buyers learn about your company and the services you offer?

Steele: We are advertising in Ethiopian media in major US cities where Ethiopians live. In October, we are having free seminars every Sunday afternoon in our DC headquarters to provide detailed information about the opportunities available. In 2009, we will go on tour to the major US cities where Ethiopians live.

For more information, call us at 202-234-gojo [4656] or visit our website at: www.gojosuites.com.

TADIAS: Is there anything else you would like to share with our readers?

Steele There are many Ethiopians from the diaspora moving back to Ethiopia for several reasons. These include medical doctors, IT experts, engineers and entrepreneurs. They don’t want to deal with the hassle of buying houses from Addis Ababa brokers (“delalas”) so they come to us for a hassle free experience.

We are very excited about the opportunity to meet you and get to know you so that we can help make your dream of owning a home in Ethiopia come true!


Publisher’s note: GojoSuites advertises on Tadias Magazine.

65 Responses to “How to Buy Real Estate in Ethiopia: Interview with CEO of GojoSuites”


  1. 1 Aneesa Morgan Oct 8th, 2008 at 12:22 pm

    Thank you so much for this valuable info. I used to be married to an Ethiopian and I have two Ethiopian kids.

    Valerie, Am I qualified to buy a house? I can certainly afford it.

    Thank you.

  2. 2 esseye medhin Oct 8th, 2008 at 2:59 pm

    I shopped around for a year and finally settled with Ayat. Even if there was some concern of delays, it is not as bad compared to what is happening here in the USA. But it is something that can be improved. Ayat is finishing my home and I am hoping to move in sometime in 2009.

    Thank you for the feedback

  3. 3 DJ Oct 8th, 2008 at 3:42 pm

    Besides these restrictions:-

    Anyone who meets one of the following criteria:
    1. Has Ethiopian citizenship and lives abroad
    2. Foreign nationals of Ethiopian origin
    3. Has Ethiopian parents

    I think it is a great idea. If this company is really trying to help the Ethiopian Real Estate economy they have to forget the above restrictions. One as “Aneesa Morgan” mentioned it will confuse a lot of people who have some kind of affiliation with an Ethiopian person or culture. Just let anyone who can afford it buy these houses.

  4. 4 Valerie Steele Oct 8th, 2008 at 7:27 pm

    Dear Aneesa,

    Thanks for your question. Unless you meet one of the criteria published in the article (reiterated by DJ), we do not believe you are eligible to buy a home in Ethiopia. Maybe one day that will change! But not likely in the near future given the housing shortage there right now.

    Your kids, however, are eligible to buy a home and I don’t know what the minimum legal age is they need to be in order to do that in Ethiopia (an Ayat house purchase is all based on Ethiopian–not US–law). If this is a route worth pursuing, call us at GojoSuites and we would be glad to help you find out.

    Valerie Steele

  5. 5 Raquel Oct 8th, 2008 at 7:33 pm

    Great composition of Questions. Congra, Tadias!

  6. 6 Wubit Lemma Oct 9th, 2008 at 8:36 am

    I am interested in buying a house.

  7. 7 Daniel M. Lessanu Oct 9th, 2008 at 10:50 am

    I just can’t believe it! Beatiful Ethiopia our families homeland is truely growing. Construction and buildings from homes to apartment complexes its amazing. Ethiopia as a leading nation in Africa and what better way to lead but by example. Open markets, free trade, a better health care system for the public, strong military, and evenually a real democratic society. Also my people, remember the corner stone of any economy is the housing market. Now more than ever is the time to invest if you can.

    My parents have since built a home by Berta another awsome construction company in Ethiopia benefiting from this explosive market which is taking place back home. If you wait it is truely worth it these homes are built solid from the ground up. A lot of the housing are in gated communities close the heart of Addis. The effort, engineering, craftmanship, is far superior to the average western world homes. Ethiopians are using concrete cement and metals versus sheeprock which is taking off in the US because it is cheaper and easier to build with. Trust me I have seen them with my own eyes. This is what you should consider before complaining about delays. But most of all your giving back to your communties, by providing neccessary jobs, and a great investment as well, to pass on to future generations if not yourself later on in life. An excuse to come home again! Peace-Out!

    Danny. Oh yeah Steele your a hotty!

  8. 8 Aneesa Morgan Oct 9th, 2008 at 12:40 pm

    Valerie,

    Thank you. I will call.

  9. 9 Valerie Steele Oct 9th, 2008 at 1:43 pm

    Wubit,

    You can call us anytime (202-234-4656) to discuss your new home. Or fill in the form at http://gojosuites.com/tour/registration.php and we’ll call you!

    Valerie Steele

  10. 10 Dr. Ethiopia Oct 10th, 2008 at 4:20 pm

    As someone who has been away from home for about a decade now, i find this piece quite remarkable in touching on all the important subjects of owning real estate in Ethiopia

  11. 11 Mekuria Oct 10th, 2008 at 8:13 pm

    October 11/2009

    >>>>Buying houses in Ethiopia <<<<

    As I read this news from http://www.tadias.com bigin to write you this massage.
    I am very interesting to buy a villa or a family house with 3 – 5 bedrooms.But i am living
    in Europe and i will be in August 2009 in Ethiopia with my Families.May i have a chance as soon as possiable to buy a villa or house in the next few weeks or Months before I arreived in Ethiopia? I mean it is an ergent case!(I have only about 9 Months to fly to Ethiopia!)
    Please,give me same information about the price of a new House and the mortgage
    financing !

  12. 12 belay Oct 11th, 2008 at 5:28 am

    how much the prices? how to pay

  13. 13 Tedros Oct 11th, 2008 at 10:47 am

    Sorry to be the spoiler here…but the top management of Ayat has proven to be less than honest in many dealings, including with myself on a business contract where I was swindled by them. Anyone interested in buying from Ayat is advised to move with extreme caution. Top management is full of Dr. intina and Dr. intina, all kinds of university professor rejects who know nothing but bureaucracy. IMHO they are not trustworthy.

  14. 14 Firdaweke Oct 12th, 2008 at 1:22 am

    I am very pleased to learn you are providing such kind of outstanding serivce which is close to the heart of every Ethiopian in diaspora. Thank you for a very informative interview. Keep up the good work.

    I bought a house at Ayat several years a go when it was in the range of hundred thoushends, however, I am very much interested if you can buy me back the house with the current market price so that I can buy the appartments that are on the sale now. my house has been rented for people and generating a reasonable income every month but, for me it seems a good deal if I can buy several appartments as an invesmtnet using Ayat’s credit offer.

    Can you or Ayat help me sale the house? Can Ayat has a buy back policy?
    I am not planning to go back home at least for the next five years, unitl my children go to college leave home. Can you also send me the pictures and size of the appartments?
    and the application form ?

  15. 15 Valerie Steele Oct 12th, 2008 at 8:28 pm

    Hello Belay,

    I would be glad to give the price for the home that interests you as well as discuss payment options. Just call us at 202-234-4656 between 9am and 6pm EST Monday through Friday. Or register on our website at http://www.gojosuites.com/contact.php and we’ll call you!

    Valerie Steele

  16. 16 Saba M. Franke Oct 13th, 2008 at 3:36 am

    My name is Saba Metaferia Franke I live in Switzerland. I can be reached at sabametaferia@yahoo.com for any question

    I am really puzzled by Tedros comment about Ayat and your having a problem with them, You said you were swindled by them but from my experience we have got more than what we bargained for. We are extremely satisfied customers and we are extremely very pleased with the houses we bought, we didn’t have any problem with any Dr. Intina and Dr. Intina, it is unfortunate that happened to you, as they said some times things happen.

    It would be a lie if I didn’t tell you there was a problem from Ayat business practise such as delays, lack of communication with their customers and dragging their feet to update on the status of our houses as they build, they were very slow to response to our questions etc. This is chronic disease exists in most Ethiopian businesses. I have friends who have been mistreated and frustrated by other real estate companies but it doesn’t mean they are bad; However, I think there need to be made much improvement in all areas. I think Ayat seems getting it, they seem to recognize their weakness and partnering with Gojo suites and this step by itself is the beginning of the solution to the problem. I learned a lot from Ms. Steel’s interview.

    Valerie, do you have a three bedroom apartments if I am interested to buy now? Can you send me the price list and payment schedule as soon as possible? Is it possible to visit the site where the apartment is located?

    Saba

  17. 17 Valerie Steele Oct 14th, 2008 at 9:32 am

    Hello Firdaweke,

    Thank you for your inquiry. Ayat does have a buyback policy. To give you more information about the buyback opportunity on your specific house, I need the selling price, the house number and the registration number. Please call me to discuss at 202-234-4656. Looking forward to talking to you!

    Valerie Steele

  18. 18 Catherine Oyster Oct 15th, 2008 at 12:52 pm

    Hello Valerie –

    I am a segment producer for a television show called House Hunters International that airs on HGTV in the US. We have never done a show in Africa and I am interested in finding out about featuring a home buyer and real estate agent in Ethiopia. It would be interesting to find out the process of buying a home for citizens and legal residents. Please let me know if this is something you and/or one of your associates would be interested in.

    Thank you,

    Catherine Oyster

  19. 19 Valerie Steele Oct 17th, 2008 at 9:23 am

    Hi Catherine,

    That sounds very interesting! Please call me at 202-234-4656.

    Valerie

  20. 20 Helen Oct 30th, 2008 at 10:33 pm

    I hope HGTV does a segment on home buying in Ethiopia. That would really be an interesting and educational program.

  21. 21 helen Oct 31st, 2008 at 5:04 pm

    hey everyone,

    i really want to buy a house in Ethiopia but i don’t have a clue where and how to?…

  22. 22 Sophia N Nov 14th, 2008 at 3:25 pm

    Valerie!

    This is so great. My friends have been asking about buying a house back home. I will definitely pass on this article. I think it is important to encourage fellow Ethiopians to take the time and invest resources back into the country. There may be snags and delays in the buying process, but these glitches are not uncommon in the US as well. People must be opened minded!

    Keep up the good work!

  23. 23 Mimi Nov 15th, 2008 at 6:20 pm

    I think almost every Ethiopian living abroad is interested or hoping to own a house in Ethiopia. And this article gives us bunch of good tips and addressed most of our questions. However, the implication of US tax (has not be addressed fully)? As for me, I would expect my real estate agent to address all basic concerns.

  24. 24 Valerie Steele Nov 20th, 2008 at 3:13 pm

    We do everything we can to make the process of buying a home in Ethiopia from the US (or any country) as simple and smooth as possible. And our services are free! So, to everyone who asks what to do, I would recommend calling us at 202-234-4656 or registering on our website at gojosuites.com and we will call you.

    Plus, many people do not realize how affordable it is. Ayat has the lowest priced condominiums in Addis (starting at less than $54,000 USD!!) and I just got back from Addis and saw a finished one and it is really beautiful.

    As far as taxes, we have not heard of any US taxes since the property is not in the US but, of course, we always recommend that you ask your tax person or accountant.

  25. 25 Maereg Nov 29th, 2008 at 4:00 pm

    Good job.
    Keep the good work up. Ethiopia’s economy can move forward and develop through business, we shouldnt be discouraged through the bureacracy. Its always good to face challenges and invest in Ethiopia. As an Ethiopian its always good to have house in Ethiopia, buying houses helps boost our economy, we creat jobs , we benefit ourselves benefitting others. I have heard some customers of Ayats real state saying the value of their home has gone up three fold in a matter of 8 years. What an investment it is.
    Keep the good work up sista…

  26. 26 Fekre Dec 1st, 2008 at 10:14 pm

    My experience is the title does not stipulate the houses are on a lease land and for how long and what after the land lease expires.

  27. 27 woinshet abebe Dec 4th, 2008 at 1:34 pm

    Hello everyone, what is the average price for a home outside of Addis. I can’t afford more than 300.000 Birr. Tank you and God bless .

  28. 28 L Y Asrat Dec 6th, 2008 at 9:32 pm

    I agree with the comments made by Teddy above. we bought land and a 7 room service quarter from Ayat more than 5 years ago. They did not finish the construction as promised which was 8 months. It took them 3 years to finish it. They did not complete everything as per the agreement. Infact, when we went to speak to senior management they said, we should be gratefull that we have managed to obtain the land for a fraction of what it is worth today. The price of the land has increased to 4 times the amount we paid for. There is a lot of problem with communication, updating progress and reaching Ayat staff.

  29. 29 aytal Dec 13th, 2008 at 8:04 pm

    I want to by a house in Addis and live there. (How safe is it to live in Ethiopia?? I live in a country where political violence is nonexistent.)

  30. 30 Valerie Steele Dec 16th, 2008 at 4:31 pm

    In fact, the purpose of GojoSuites is to eliminate the hassles and headaches that customers overseas experience when they are trying to communicate with builders in Ethiopia. We do all of that for you and our services are FREE. We also have a representative in Addis Ababa who is responsive to inquiries and can take you or your representative to see the properties in Ayat Mender. Feel free to call her directly. Her name is Selam Getachew and she can be reached at 911-18-31-09.

    As far as safety, I lived in Ethiopia for nearly two years and felt safer there than I do in the US. But I would recommend you check with your embassy or state department for detailed information.

  31. 31 Berhanu Dec 18th, 2008 at 5:14 am

    Hi Dear Valerie ,

    How are you doing? It is with great pleasure that I send you this email from Melbourne, Australia.
    I just read your interview and I am very much impressed with the job you are doing and and the tasks you have embarked upon to bring the dreams of so many Ethiopians to own property in their home country. I am here in Melbourne working as a Mobile mortgages lending manager. So, perhaps we can work together on a business plan to address the Australian and Asia pacific market.

    (I will contact you via phone).

    cheers ,
    berhanu

  32. 32 awassa Jan 1st, 2009 at 4:01 pm

    How can an apartments sell for 54 000 dollars in Addis? What is the GDP of Ethiopia? I saw on a website which stated you can get a 500 square meter house in Bahir Dar for 100 000 Us dollars? IS this true?

  33. 33 Samson Jan 6th, 2009 at 6:56 am

    Hi all

    There seems to be some good and some bad experience with Ayat.
    I guess that is the case with every property developer in the world.
    We have seen it happen in the UK and USA too.
    I am interested on buying a villa or apartment in Addis and would be very grateful if some one can answer the following questions.

    1, where in Addis is Ayat building houses at the moment?
    2, do they have already built houses for sell or do they only sell pre-constriction?
    3, I’ve checked their website http://www.ayatplc.com/ and there is no much info there, in terms of current development and so on, and some links on the website don’t work. This doesn’t give confidence as a potential customer…. Are there plans to rectify that?
    The internet is a very effective commutation tool this days and it would help if they have informative and functional website.

  34. 34 Valerie Steele Jan 21st, 2009 at 2:22 pm

    Hi Samson,

    I can answer your questions. First, Ayat is building houses in the CMC area of Addis.

    Second, Ayat has ready made villas for sale as well as new construction.

    Third, my company has it’s own website which has been referenced numerous times in the article and in this discussion. And we keep our information current, so please visit us at http://www.gojosuites.com. In fact, that is one of the many benefits of working with us–so that we can give you current information and you can talk to someone directly in the US rather than having to rely on their website and make international phone calls to Ethiopia to get this very basic information.

    Please feel free to call us Mon – Fri EST 9am-6pm or register on our website and we will call at a time that is convenient for you!

  35. 35 robert Feb 19th, 2009 at 6:18 am

    Hello,
    Do you have properties for sale? We would like to enlist your properties for free on our website http://www.realestateethiopia.com/ as a way to help you promote your properties. We can register you in our database to become a member of the largest real estate websites network http://www.realestateinternational.com. Our team will gladly add your properties for you, without any obligation from your part. We will also classify you as a top real estate agent in your country on our local main page. Give us the go-ahead if you’re interested, with the location of your property.

    Regards,
    REI Team

  36. 36 Michael Anthony Matos Apr 20th, 2009 at 5:46 am

    Hi, I’m an exporter of hand made furniture based in Thailand. We are western owned and have a very affordable range of pieces. If interested, can send more info. With warm regards.

    Michael A. Matos
    Sales & Marketing
    Tel:009660896467391

  37. 37 Elias May 22nd, 2009 at 10:57 pm

    A long time ago, I used to hear complaints that Ayat Homes were not completed on time. I had the chance to talk to the sales manager of Ayat and I was told the reason and I accepted it. After that, I bought an apartment almost 4 years ago and guess what? It’s been sitting there half finished. The picture I took 2 years ago is exactly the same as the pictures that was sent to me 2 years later. From what I see, most of the construction that’s started around the same time as Ayat apartments are either completed or almost completed. My question is, what’s keeping Ayat, claiming to be the pioneer in this business, to complete the construction of it’s apartments?

  38. 38 bekelech tola Jul 4th, 2009 at 5:50 pm

    Hi all

    I think this is a good chance to Ethiopian people and i am asking if you can email(send) about the current price of three – four bedroom including the price of condominium .thank you.

  39. 39 Seni Jul 13th, 2009 at 8:17 pm

    Valerie

    I noticed, your http://www.gojosuites.com, does not have comments or questions taking servics.

    What is CMC???

    Your website does provide some information. However, you are not giving the most important information: Price of various properties, all legal fees such as lawyer’s fees, bank fees etc. For eg. you mentioned above: “condominiums in Addis (starting at less than $54,000 USD!!)”. Does this cost include all the other fees involved in bying Ayet’s Condo??

    It would be nice if you give approx total cost.

    Your website doesn’t mention also:

    1. Fire protection for the properties (Did Ayet address this issue? Is there sprincler in place)
    2. Approx. monthly Electric power and water charge

    In case of Condominiums,
    1. How is the condominiums governed, managed? Who will manage it?
    2. Is there a Condo Fee?
    These are few info that any prospect buyer want to know. You say phone us for more info. Then, you say you have to register first. Why are you making it difficult for buyers?

    I don’t know why you want to get every info seeker’s name, address and phone # before giving the required property information.
    *********************
    Comment for readers

    As other people commented above, yes communication with all Ethio Businesses in Ethio is a snail walk. I understand some problems such as power outage but for the most part, it is Ethio employees attitude and lack of customer serving training and skills.

  40. 40 Thomas Aug 7th, 2009 at 8:44 am

    Hi there, three years a go, I bought a shop on a 4-5 story business building( shopping mall) they are building in Ayat and the deal was for the whole building to be completed in 2 years, but guise what, the construction work has been stuck on 1st floor for the last couple of years and there is no sign of it moving up. the trouble is we have paid most of the money in advance and there just seems to be no accountability what so ever. we don’t want the deal to collapse or a refund either as it would mean lose of interest and time. it is a lot of money. We desperately need advise from any one who knows about the situation.

    any advice will be appreciated, thanks

  41. 41 Haimanot Aug 17th, 2009 at 9:53 am

    i am interested buy house in Ethiopia. i need to know the different prices.

  42. 42 Yirgalem Eshetu Aug 17th, 2009 at 3:12 pm

    Great interview Valerie and thank you for the service. My wife and I purchased a house few years ago from your company and we are more than satisfied. I am encouraging the younger members of my family in Nevada and California to contact your office so they can also share in the slice of the dream.

  43. 43 Tesfaye Alem Oct 4th, 2009 at 5:50 am

    My name is Tesfaye Alem living in Gulf for last 4 years. I have question. Just i want to know How can purchase home through your real state company or whatever. What is the monthly payment or what procedure to follow. Can someone help me please? I need advise.

  44. 44 Mustafa Oct 14th, 2009 at 2:03 pm

    Talking about communication problem! I called and left a message at Gojo Suites a couple of times and left my contact number and they never responded.

  45. 45 Brook Getachew Dec 21st, 2009 at 9:47 am

    What if i want to buy a house in places other than Addis Ababa, say like in Gondar, Mekele, Dire Dawa, Harar…. there might be real estates there too..

  46. 46 Wayne Service Dec 26th, 2009 at 7:28 am

    I would like to buy a house in BahirDar. Could you please give me more information.

    thanks, best regards

    Wayne

  47. 47 Selam Tesfehai Feb 15th, 2010 at 8:37 am

    Really great article. I’ve been looking to buy a house in Ethiopia, but information is hard to come by.
    I went to ezega.com and there’s a listing for a ‘comprehensive guide on buying property’ http://www.ezega.com/Classifieds/ShowAd.aspx?id=4553.
    Anybody know if this is legit, or helpful?

    Title : Investing in Ethiopian Property: Comprehensive Guide
    For Sale @ Br 1600.00
    Item # : 4553
    Location : Addis Ababa
    Category : Ethiopian Books
    URL : N/A
    Posted by : Bitaniae
    Date Entered : Mon 15 Feb 2010
    Expiration : Fri 16 Apr 2010
    Type : For Sale
    Description : The only comprehensive guide on buying and building property in Ethiopia. Written by consultants from a top-tier business consultancy. Buying and constructing a home in Ethiopia is a daunting task for long-time residents and very difficult for the Diaspora with less information. But the opportunities are endless and lucrative for serious investors. This guide seeks to provide the critical information needed for those serious in investing in Ethiopia. Included: Opportunities Property locations and details Property value forecasts Step-by-step process for purchasing or building a property Trusted brokers and contractors Needed forms from government offices and contact information Pitfalls of operating in Ethiopia Cost estimates We’re confident that you will be satisfied so we’re offering a MONEY BACK GUARANTEE if you are not completely satisfied with our guide

  48. 48 haji Mar 2nd, 2010 at 9:58 am

    Hi all,

    Good news, i wish to buy one day a beautiful house in ethiopia.

  49. 49 mike Mar 2nd, 2010 at 6:10 pm

    I think its obvious that the reason construction projects are not finished on time is because of poor management. Coupled with the fact that their is a very poor legal system in place and little opportunity for enforceability of contracts; the potential is high for corruption. IE. Ayat or other companies probably take your money.. keep half of it straight away.. spend a bit to get the project started and blow the rest of the money on their own mansion or vacation home, new car etc… before they ever complete the customers project.. ( duhhh ) that would explain the 2 year gaps where nothing happens… eventually if the customer complains enough they may make a bit of progress on that customers project by taking another suckers money and using some of it to fund projects that have long been defunct… Its obvious to me that the Ethiopian real estate market is a joke and way overpriced. Land is probably a major part of the cost.. concrete does not cost that much money! Neither does labor in Ethiopia

    Basically in the next 5 years the prices will start to come back down as the global economy takes a dip following the current US recession and housing crash. Because of the high prices people will be unable to sell many properties and will eventually lower prices.. Until the supply of new homes can match the demand the prices will be able to remain high. This basically creates opportunity for any construction company to start a business.

    Unfortunately much of Ethiopia remains impoverished and without proper housing :(

    When I look at much of the simple construction techniques used I scratch my head wondering how in the world such simple houses could demand such high prices.

  50. 50 Gabrielle Mar 30th, 2010 at 1:17 am

    Hello,
    My daughter is currently still an Ethiopian Citizen and I would like to purchase a property in Bahir Dar (in her name) that would be suitable to use as a guest house. By law, we have to change her citizenship within the next 6 mths. Can you help?
    Cheers
    Gabrielle

  51. 51 sileshi Apr 25th, 2010 at 2:33 pm

    I would like to buy an apartment and house in Bahir Dar, Ethiopia, but I need someone to explain to me the prices and the type of apartments and houses available. Thank you.

  52. 52 George seyoum May 5th, 2010 at 5:45 pm

    how can i get contact.

  53. 53 yaried Jun 16th, 2010 at 8:02 pm

    Hi everybody i live in italy but , i go to Ethiopia every year im 100% ethiopian , i’ve been to alot of places and i sow so many sick villa its simply crazy , i would like to know if there’r agency with who i can tlk with coz we want to buy a villa before December if anybody can give me some info ill be glad thank u !

  54. 54 Metiku Oct 4th, 2010 at 4:01 pm

    I would appreciate it very much if you can provide me with price list of each homes and flats such as two, three and four bed rooms.

    My best regards

  55. 55 T Jan 23rd, 2011 at 11:00 am

    Hello

    What about for the ppl who lives in Europ ?

    How can we buy ?

    I can not affored the Whole money one time but I can pay some every months.

    Many thanks in advance and waiting to hear from you asap

    T.G

  56. 56 Kid Jul 14th, 2011 at 3:16 pm

    Hello all,

    I just need to know what is the process of buying house in Ethiopa, Addis Ababa. Please let know if you have any information. My familly and I are interested to buy house in Addis Ababa.

    Thank you, looking forward to hear from you
    Regards,
    Kid

  57. 57 Beza Befkadu Sep 1st, 2011 at 12:35 pm

    Hi Everyone

    We are very interested in buying either a site or a house on the outskirts of Addis Ababa. How do we organise a monthly payment if we were going to purchase such a thing. We live in Europe

    Kind Regards

    Beza

  58. 58 Prof, Dr Krishna Govender Oct 25th, 2011 at 7:36 am

    I am looking for advice and perhaps contacts of individuals whom I can contact regarding renting a house/apartment in Mekelle, Ethipoia.

  59. 59 saba Nov 25th, 2011 at 12:24 pm

    can pls provide online Live support coz there may things that are not clear and for ppl whocan’t contact Ayat in person will be so helpful thx

  60. 60 WA property Jan 1st, 2012 at 7:36 pm

    Hi there, I discovered your web site by the use of Google while looking for a similar matter, your web site got here up, it looks great. I have added to my favourites|added to bookmarks.

  61. 61 zekarias mureja Feb 27th, 2012 at 2:42 pm

    I like the tow bedroom villa ,can i gat more information about the pricing and the payment system please?

  62. 62 kaleb May 22nd, 2012 at 2:42 pm

    We rent and sell house in ethiopia. real estate agents ethiobroker peroprty agent, addis ababa, ethiopia.

  63. 63 Declan May 26th, 2012 at 1:26 pm

    Hi Valerie,

    I’m interested to find out some more information about 2 bd apartments in central Addis. Do you have any going up soon or currently for sale? I’d like ot see some plans and locations. Can you help? I’m looking to buy soon with my partner (in her name).

    Let me know at my email please.

    Regards,

    Declan

  64. 64 Declan May 26th, 2012 at 1:27 pm

    Sorry me again…also the payment plans…

  1. 1 Ethiopia: Real Estate & Property Agents in Ethiopia Pingback on Jun 20th, 2009 at 12:45 pm
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