Demographics play a crucial role in shaping the demand for real estate in Africa. The continent's rapidly growing population, urbanization trends, and the emergence of a middle class are key factors influencing real estate demand.

For example, the increasing urbanization in countries like Nigeria and Kenya has led to a rising demand for residential and commercial properties in major cities. This trend is driven by the influx of people from rural areas seeking better economic opportunities in urban centers.

Furthermore, the growth of the middle class in countries such as South Africa and Ghana has resulted in increased demand for higher-end residential properties and modern retail spaces. This demographic segment values amenities, security, and proximity to urban centers, thereby shaping the types of real estate developments in these regions.

References:

• African Development Bank Group. (2016). African Economic Outlook 2016. Retrieved from https://www.afdb.org/en/knowledge/publications/african-economic-outlook/
• United Nations. (2018). World Urbanization Prospects: The 2018 Revision. Retrieved from https://population.un.org/wup/