James Charnaud

I am currently in Bujumbura, Burundi. It is a small country of eight million people and lies to the south of Rwanda. It is bordered by Tanzania and the Democratic Republic of Congo. Bujumbura is the commercial and political heart of the country. It is a port city because, although the country is landlocked, its western edge is Lake Tanganyika, which is the largest lake in Africa.

My main impression of the country is how friendly and helpful everyone is. This is the first place I have arrived where the immigration officer started to help me by filling out my visa application form for me!

The country has had problems and I am told that corruption is still part of everyday life. Bujumbura seems to be dominated by aid agencies, and little else. I am struggling to see any large scale commercial activity. Having said that, the real estate market seems strong, but driven by the NGOs and aid agencies rather than any lasting business. As usual, the mobile phone companies are here and there are eight different providers (but not Orange who are my provider). When I asked my driver what the main industry of Burundi is he laughed and said "beer"!

Little office development is underway. The best rents are in the Immeuble Old East which commands in the order of $15 /sq m /month. This is an iconic building in Bujumbura so there is a certain kudos attached with being there. Most office rents are in the $5-10 /sq m range. Leases are very flexible and rents can be reduced by offering to pay more than one month's rent in advance.

An interesting quirk of the market is that if someone sells a property it is generally assumed that they are in financial trouble. Therefore there are less than the normal number of sales that one would expect to see in such a market, and properties are often marketed on a confidential basis.

                                                                      Bujumbura Cityscape