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Dreaming about a holiday home in Zanzibar?
Zanzibar, the Indian Ocean island just 40 kilometres off the shore of Tanzania, is handled as hot property - literally. Global investment experts regard the holiday destination a rising star in the market of second-home buyers and other property investors.
Prospective buyers come from all over the world, especially since the Zanzibar government has granted new incentives and privileges to foreign investors. “When it comes to buying property in Zanzibar, Kenya is currently the third-largest investor after Tanzania and the United Arab Emirates (UAE)", disclosed Sebastian Dietzold, chief executive of developer CPS. Others buyers come from Oman, the US and Europe - all in all people from over 60 countries.
CPS, a German-led firm, is building East Africa’s fastest growing real estate projects in Zanzibar, the eco-city Fumba Town near the capital Zanzibar City with 94% waste recycling, set in a green permaculture landscape, and The Soul, a residential leisure complex in the surf community Paje on the East Coast.
The newspaper THE FUMBA TIMES - originating in Fumba Town - has prepared a Special Issue answering the 25 most often asked reader's questions about acquiring property in Zanzibar. Is it better to rent or buy? Are foreigners free to buy? Do I get a residency when I invest in real estate?
THE FUMBA TIMES, founded in 2019, is Zanzibar's first English language local lifestyle newspaper, published quarterly and distributed in Zanzibar, Tanzania, East Africa, Oman and Dubai.
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