Africa has "buzzing" property prospects

A number of very good property prospects exist for overseas buyers in Africa, it has been stated.

Many countries on the continent are seeing substantial economic growth, either through their natural resources such as oil and minerals or through other industries such as textiles and outsourced services, Nuwire Investor reports.

It stated that news of the prospects in countries such as Morocco and Egypt has been "buzzing" around, while southern African countries (including South Africa) have been tipped to do well in the area of game reserve properties as conservation moves up the agenda.

The portal stated that much of this good news has been hidden by a media concentration on places with major problems such as Zimbabwe and Somalia.

Last month property magazine Homes Overseas added Morocco to its list of the "Premier League" of overseas property destinations, stating that massive investment is going into a project to boost its tourist numbers from the current annual total of 2.2 million to ten million by 2010.