Online Money Spinner Blog

The Ethiopian Real Estate Industry Unlocked!

The Ethiopian Real Estate Industry Unlocked!

Welcome to The Hopeful Ethiopia: The Secrets of an Ancient Land

It’s been a long time coming. Let’s unveil the secrets of an ancient land for you’all real estate advocates out there in 2024 and beyond!

You might be calling yourself a brand new homebuyer diaspora for the country. However, do you know that 2 million years ago ancient humans were living in the highlands of Ethiopia? — That’s right, the early found treasures like fossils, jawbones, and ash from volcanic cataclysm belonging to Homo erectus are from Abyssinia. 

Even better, following Lucy founded by Donald Johanson, a new analysis confirms that an early human of 233,000 years ago was found at Omo, Ethiopia. Besides that, from the first capital city of Ethiopia “Yeha” to the now modernized one “Addis Ababa,” the nation has come a long way.

Once started as the Kingdom of Aksum, a major empire of the ancient world, during the first century C.E, the country has thrived for centuries, controlling a large territorial state, and becoming a wealthy African civilization financially. Again, back then it had access to vast trade routes linking the Roman Empire to the Middle East and India.

The first Emperor of Ethiopia Menelik I, the last of the Solomonic Dynasty being Emperor Haile Selassie, was also the offspring of King Solomon of Jerusalem and the Queen of Sheba, who was a prominent figure in the Kebra Nagast (“Glory of King ”), and the Ethiopian Orthodox Church.

When the history goes on, on 1 March 1896, near the town of Adwa, the Ethiopian fellows had defeated the heavily Italian invading army lead by General Oreste Baratieri who underestimated the size of the Ethiopian force and came to expand its colonial empire in the Horn of Africa, retreating the soldiers back into Eritrea. 

The ultimate deed that was achieved at Adwa then makes Ethiopia one of the only independent states in Africa from European colonial powers — Because of that it also led it to become the headquarters of the African Union (AU), which was established on May 25, 1963.

I think it is crystal clear now on why Ethiopia beckons! The ancient land boasts not only a rich history but also a booming economic empowerment for the whole of Africa. According to Egyptian chroniclers who were trading partners from over 5,000 years ago, the nation is believed to be the ‘Land of Punt.’

Just like that, our story of the real estate sector begins in the 1990s by Ayat Real Estate, where the seeds of a vibrant market were sown. Fueled by urbanization and a growing economy, today it is thriving better. From government initiatives to private ventures, the landscape offers something for everyone, and for you too.

Addis Ababa’s Top-Notch Attractions (Beyond Homes: Exploring Sheger's Majesty)

With a population of over 5 million as of 2024, Addis Ababa is one of the fastest growing cities among the whole continent with entrepreneurs being supported by institutions. It is the capital of Ethiopia and the diplomatic center of Africa. In addition to that the city hosts 30 % of the urban population of the country.

The establishment of the Addis Ababa legacy that transcends any place like Fasiledes Gondar, Axum, Lalibela, and other major cities of Ethiopia started back in 1988 when Emperor Menilek II persuaded by his wife Empress Taitu to build a house near the hot springs at the foot of the tableland.

Addis Ababa, which means “New Flower,” from then on has transformed from conflict to disputes, poverty to pandemic, and internal strife to geopolitical tensions. Most notably, the May 1997’s that left unforgettable scar to the people of Adu Genet Sheger, and lifetime of sorrow to our beloved mom’s.

Yet amidst these adversities the city, led by the respected Prime Minister Abiy Ahmed beginning from April 2018, has embarked on a transformative journey of construction to achieve milestones that have never been seen before in history.  

On a geographic location of well-watered plateau surrounded by hills and mountains like Entoto, combined with its political and socio-economic status, with great cultural diversity coming from all corners of the country in search of employment opportunities and services, this chaotic and bustling city of Africa is welcoming you with open arms.

Along with stunning palaces and cathedrals, there are about 100 Foreign Embassies, 17 insurance companies, and 5 Consulates (including Honorary Consulates) in the city. I have told you before, Ethiopia isn’t just about bricks and mortar.

The delicious Ethiopian food (Doro Wet, and Beef Tibs? — Oh yeah, those are my favorite ones!), with relatively low crime rates, and a strong warming community feel, Addis Ababa surely has to be in your next real estate investment bucket list. Period!

Ready to Own a Piece of Addis Ababa? Okay, Let’s Discover Your Dream Home or Lucrative Investment Options!

Whether you’re exploring some of the strategic investment options out there, or on your way to owning one of the best homes that you’ll ever find, you don’t have to go for Ethiopian TV’s like EBS, or other popular outlets, Online Money Spinner is your one and only trusted guide to help you with finding the best real estates of Ethiopia. Roger that!

Top 10 Real Estates of Ethiopia to Own a Property (2024 Edition)

Ethiopia, with its current fast growth, has the potential to become a leader in the African economy as Addis Ababa serves as the headquarters of major international organizations. Though it might be difficult to predict the future development of any country’s economy, even the top-tier ones.

The truth is that the country has been called “the political capital of Africa.” Most of its historical, diplomatic, and political significance for the continent accounts for this. And now, through its vibrant real estate market, it’s time to unlock your dream home investment in 2024!

If you’re ready for this, let’s experience the rich tapestry of Top Real Estates of Ethiopia that stands out the best among other hundreds of potential options.

#1. Ayat Real Estate.

Ayat Real Estate was established in 1996, and it is a leading Ethiopian developer that stands out for its integrated approach. Is a robust real estate development company with construction, and financing under one roof, offering a one-stop shop for their clients’ residential and commercial property needs. Read full reviews of Ayat Real Estate.

Ayat Real Estate Logo

#2. Noah Real Estate.​

Noah Real Estate was established in 2013 G.C, and is known for its innovative designs. Up to date, they’ve built a variety of residential, commercial, and mixed-use projects in Addis Ababa, with a focus on modern living spaces with features like spacious layouts, advanced appliances, and inclusive amenities. Read full reviews of Noah Real Estate.

#3. Century Addis Real Estate.

Century Addis Real Estate was established in 2018, and is a modern developer, focused on delivering affordable, high-quality residences with features like in-unit intercom systems, backup generators, and secure living environments. Above all, they prioritize customer satisfaction and timely project completion. Read full reviews of Century Addis Real Estate.

Century Addis Real Estate Logo

#4. Amibara Properties.

Amibara Properties was established in 2014, and is a large-scale project real estate developer in Ethiopia. It offers stunning apartments with attractive features like balconies, pools, and secure living spaces. Their current promotions highlight significant discounts for early payments to build the reality of Ethiopia. Read full reviews of Amibara Properties.

Amibara Properties Logo

#5. Gift Real Estate.

Gift Real Estate was established in 2005, and is one of the oldest Ethiopian developers, constructing luxurious residences with modern amenities, aiming to elevate lifestyles. Their unique feature is catering to various customer segments, offering townhomes, apartments, and villas with a range of affordability. Read full reviews of Gift Real Estate.

#6. Flintstone Homes.

Flintstone Homes was established in 1991, and is a real estate developer that brings a strong legacy of construction expertise to the housing market. Their unique feature is making homeownership achievable for a variety of income groups by offering completed, under-construction, and upcoming units. Read full reviews of Flintstone Homes.

Flintstone Homes Logo

#7. Sunshine Investment Group.

Sunshine Investment Group was established in 1984, and is the other leading Ethiopian real estate developer starting from the early days, and stands out for its extensive portfolio beyond just housing. The company encompasses diverse projects including road construction, hotels, even laundry services, and others. Read full reviews of Sunshine Investment Group.

Sunshine Investment Group Logo

#8. Tsehay Real Estate PLC.

Tsehay Real Estate PLC was established in 2012 by CGCOC, and is an on-time project delivery real estate developer, specializing in luxury high-rises and commercial properties, offering residents unparalleled luxury living with top-of-the-line finishes and amenities like gyms, generators, and security features. Read full reviews of Tsehay Real Estate PLC.

Tsehay Real Estate Logo

#9. Addis Life Real Estate.

Addis Life Real Estate was established in 2019 G.C, and is a customer-satisfaction targeted developer, focusing on luxury properties in prime locations like the African Union headquarters. Their unique feature is their rapid rise and strong partnerships, allowing them to offer new, high-end spaces in desirable areas. Read full reviews of Addis Life Real Estate.

Addis Life Real Estate Logo

#10. Kefita (by Rockestone).

Kefita was established in 2028, and it isn’t exactly a real estate developer though, but an award-winning luxury apartment building in Signal Area, Addis Ababa. Built with international standards, it offers residents a unique blend of Ethiopian design like Lalibela and modern amenities within a gated community. Read full reviews of Kefita (by Rockestone).

Exceptional Real Estate Resources of Ethiopia (at Your Fingertips)

Exceptional Real Estate Resources of Ethiopia (at Your Fingertips)

As we noted over and over again, Online Money Spinner is a dedicated website that provides a wealth of resources to empower you in the Ethiopian world of real estate. Here’s a glimpse of what you’ll find out of the gate (Click the Heading to jump onto the content):

1. Real Estate Agents:

Becoming a Real Estate Agent in Ethiopia requires no formal education; only courses in negotiation, property marketing, and legalities are recommended. When it comes to salary, in 2024, real estate agents and property managers are earning between ETB 2,797 and ETB 11,779 per month.

2. Real Estate Jobs:

Starting a career path in real estate requires sales experience plus a college degree are preferred. With a strong work ethic, and communication skills, you can easily land your dream real estate jobs using one of the following job board sites in Ethiopia. Ethiojobs, HaHu Jobs, or Ethiopiawork.com.

3. Real Estate Businesses:

Starting a Real Estate Business in Ethiopia as an investor, following securing an investment permit, you only need a minimum capital of USD 200,000 for a foreign owned investment and USD 150,000 for a joint investment of foreign and domestic ones, and payment of registration and permit fees.

4. Real Estate Developers:

Finding real estate developers in Ethiopia from a total of 169 as of April 20, 2024 made simple with Online Money Spinner. Get to explore leading companies like Ayat Real Estate, Noah Real Estate, Century Addis for quality living spaces, Amibara Properties for world-class amenities, etc!

Our Mission is to Become the Best Website about Real Estates in Ethiopia, and Grow from there!

Before the internet was a thing, brokerages and agents would advertise and distribute their listings primarily in print (newspapers). According to the National Association of Realtors (NAR), nowadays as much as 95% buyers are using online tools in their search process of finding the right home.

In 2024, advertising and distribution is being handled simultaneously on real estate portals and brokerage websites with a click of a button. Some of the well-known real estate websites of the United States are getting millions of visitors each month.

Imagine this only in the last year, Zillow, one of the largest real estate websites in the USA followed by Realtor, and Trulia, has garnered an average 57 million monthly visitors. How do they work? Well, they earn revenue primarily from selling leads to real estate agents.

Zillow, one of the largest real estate websites in the USA

While such websites are doing their thing, at Online Money Spinner, we’re doing our ultimate best to be the #1 real estate website in Ethiopia. It is our mission from the very first we launched our website back in 2021 (even some things didn’t go as we planned along the way).

Beginning from homebuyers, sellers, landlords, renters, agents, and other home professionals, we are passionate about Ethiopian real estate industry progress so as to give you a head start on your journey. As the leading platform, we connect you with the best offerings through our robust suite of tools.

As much as we are committed to being the premier real estate website in Ethiopia, dedicated to empowering you in your search for the ideal home or apartment in Addis Ababa, here’s how we fulfill our mission: extensive listings, user-friendly search, seamless communication, detailed information, and local expertise.

We’re Confident in Our Expertise to Help You Find Your Dream Home in Addis Ababa — (It Starts Here!)

The good old days downtown neighborhoods of Addis Ababa that you used to have fun during the day like Piassa, Legehar, 4 Kilo, Kazanchis, Olympia, nowadays are only used as commercial center areas. How about apartments? There are a bunch of options for you from Lebu (Our New Bole), Bisrate Gebriel, Sarbet, Ayat Mender, Summit, CMC, Figa, Gerji, and others.

As a real estate expert who came from just a small village of 2 Kebeles, out of curiosity or it could be a business, I’ve had the pleasure of exploring various areas of Addis Ababa. I don’t know why, but it is the city that has always fascinated me from the very first time I saw her.

Because of its booming economy, people are considering investing in real estate or moving to this vibrant city, that’s how Afro Real Estates, Addis Life, and BamaCon established this broad diverse culture. So by my side, whether you’re a US real estate investor, first-time home buyer, or real estate agent, on this website, I’ll share my first-hand experiences and insights.

Starting from the bottom, the cost of living in Addis Ababa when compared to other major cities around the world is relatively low. Based on your neighborhood, lifestyles, and budgets, prices can vary. There’s something for everyone from the upscale Bole to the historical Piassa and Kazanchis (if you want to). 

However, note that “መሐል ከተማ የአራዶች መዋያ እንጂ ማደሪያነቱ ቀርቷል።” Yeap! You heard that, right!

Robel Birhanu — Professional Blogger, Digital Marketer, and Real Estate Agent in Addis Ababa, Ethiopia. I’m also the Founder and Owner of Online Money Spinner.

Looking for a modern apartment, a spacious family home, or a prime commercial space? — With my right-hand Tofik, I’ve got you covered everything on this website. Read my whole story on how I got to real estate Ethiopia.

Welcome to the Leading Voice of Real Estates, Addis Ababa Ethiopia!

Based on a conduct made by Statista, in 2023, the total U.S. real estate value had reached $113.6 trillion. From those numbers, $88.91 trillion is an investment in the residential sector alone. That’s how the real estate market is poised for steady and substantial growth in the coming years.

It is essential to say that the real estate sector is a cornerstone of the American economy. Besides contributing greatly to gross domestic product, it provides homes, offices, retail spaces, hotels, and facilities. As such, people will continue to carry out daily life and conduct business to the end of their life.

Of course, real estate companies of the country are the backbone of this. To name a few Jones Lang LaSalle, CBRE Group, Berkshire Hathaway (HomeServices), Keller Williams, and Realogy Holdings (now Anywhere Real Estate Inc.) are the top both public and private real estate companies in the United States.

Berkshire Hathaway (HomeServices) are the top both public and private real estate companies in the United States

Berkshire Hathaway HomeServices, which is owned by the American businessman and billionaire Warren Buffett, specifically is such a successful real estate company that almost everyone knows in the USA. It is the enterprise made up of real estate brokerages for the larger Berkshire Hathaway Inc. like Real Living Real Estate.

Besides the 44,500 agents and brokers that make up the HomeServices of America company as franchises, it encompasses escrow, insurance, mortgages, relocation and title. And guess what? The enterprise reports $168 billion in sales revenue in just 2022. Yet the USA is not the only country suited for real estate investment.

In 2024, the best countries for real estate investment are the United Kingdom, Canada, Australia, Germany, Malaysia, Japan, UAE, Ghana, Kenya, and of course, Ethiopia (with its top-notch developers like Century Addis, Canaan Addis, Amibara, Al Sam, while learning a lesson of breaches that’s happened to Access Real Estate). Still and all, it all depends on your individual circumstances and investment goals. 

Having said that, based on the five core qualities to look for in real estate developers, which are proven track record, innovative thinking, strong communication skills, financial stability and resources, and commitment to quality and integrity, we are here to take you to the next step in your real estate journey.

Contact Us today for a FREE consultation, and let’s discuss your needs in the ever-evolving world of Ethiopian Real Estate. Rest assured, we’ll make your real estate dreams a reality!

Phone Number: +251948879335

Email Address: onlinemoneyspinner.com@gmail.com

Contact Page: https://onlinemoneyspinner.com/contact/