Property Market In Uganda Stalls As Election Looms
(EMAILWIRE.COM, July 31, 2015 ) Dublin, Ireland -- The property market in the East African country of Uganda is very slow as investors await the outcome of the 2016 presidential election prior to buying. The statement was released from Kololo Kampala yesterday following a series of interviews by researchers with an interest in the Saint Joseph house selling tradition.
The researchers are in the Ugandan capital for a month and met with realtors and key property moguls in the area. Uganda has been doing well economically and has particularly benefitted Saint Joseph statue for selling houses from the discovery of oil in the eastern part of the country. There is visible construction in the capital city but investors are cautious until the outcome of the presidential election is known.
The election is scheduled for March 2016 and many assume that President Yoweri Museveni will remain as the president. However history shows that the period around the election can see some civil unrest and general instability. Most investors and realtors interviewed assume are confident that the election will pass off without major unrest but would rather await the election results prior to major investment. Real estate agents are advising sellers to have properties valued and to go ahead and list properties for sale but to expect delays in selling.
None of the realtors or investors interviewed were familiar with the Developed world tradition of using a burying a small statue of Saint Joseph upside down in the front garden of the house to be sold as a way to speed up house sales. All investors and realtors were interested to learn the results of a Wall Street Journal study which showed that sales of the small Plastic statue peak as the property market drops and decrease as the market recovers.
The researchers have scheduled further interviews to collect data on the house selling statue tradition in the East African region.
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