2. Johannesburg, South Africa
While Cape Town is Africa’s most popular tourist destination, Johannesburg is South Africa’s largest city with the best rental yields in the entire country. The gross rental yields for Johannesburg apartments range from 6.5% to 9.3% per Global Property Guide, but other sources report 10.85% gross rental yields in the city center and 11.33% outside it. The residential market of the area is pro-landlord so buying is the best option if you are planning moving to the city. The residential apartments are currently best positioned for investment and one can buy an apartment and put it on rent to reap 11% annual rental yields.
Johannesburg metro has a population of 5,065,100 and is ranked 173rd in the world. The city had a GDP per capita of $16,370 in 2014. Education and healthcare facilities here are also quite worthwhile, although the city has a mediocre employment rate.
The city is mostly viewed as the financial hub of Africa and a large number of local and international businesses and corporations have their headquarters here. The Johannesburg Stock Exchange is the largest in Africa and the South African mining industry is also centered here. People across the region move to Johannesburg for professional opportunities so you already have a competitive workforce waiting for you if you wish to start a business here.
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