Real estate has emerged as the most preferred investment asset across Nigeria, Ghana, Kenya, and Uganda in 2025, reflecting a strong shift toward property as a hedge against economic uncertainty.
This is according to Risevest’s Cost of Living Report 2025, which analyzed more than 19,000 validated responses from investors across the four African markets. The report shows that property investments now account for the largest share of portfolio allocations among respondents.
Property Outpaces Stocks and Mutual Funds
The findings indicate that real estate captured 22.32% of total investment allocations, making it the top-performing asset class in the survey.
Stocks followed at 20.51%, while mutual funds accounted for 18.10%. Fixed deposits represented 7.54%, cryptocurrency stood at 5.28%, agritech investments made up 0.60%, and other asset classes accounted for 10.71%.
The report also reveals that 85.1% of respondents were active investors in 2025, highlighting a growing culture of wealth-building across the four countries. Only 14.93% reported not participating in any investment activity during the year.
Why Investors Prefer Real Estate
Across Nigeria, Ghana, Kenya, and Uganda, investors continue to view real estate as a stable and tangible asset. Property offers rental income, capital appreciation, and portfolio diversification benefits.
In periods of inflation and currency volatility, many investors see real estate as a reliable store of value. The asset class allows individuals to balance risk while targeting long-term growth.
Direct property ownership remains popular, covering residential, commercial, and industrial developments. Returns typically come from rental yields or rising property values over time.
At the same time, Real Estate Investment Trusts (REITs) are expanding access to property markets. REITs allow investors to pool funds into professionally managed portfolios while earning dividend income and maintaining liquidity.
Nigeria and Kenya Strengthen REIT Markets
Nigeria’s REIT market features key players such as SFS REIT, UPDC REIT, and UH REIT. The Federal Government-backed MOFI Series 2 Real Estate Investment Fund also provides additional structured access to property assets.
In Kenya, products like dollar-denominated I-REITs and the Acorn Student Accommodation REIT support commercial and student housing developments.
According to the report, total mutual fund assets in Nigeria reached ₦7.67 trillion by December 2025. Real estate funds and REITs accounted for ₦483.06 billion, representing 6.30% of total assets under management.
Meanwhile, South Africa continues to dominate the continent’s REIT landscape, controlling over 95% of Africa’s $29 billion REIT market with more than 30 listed vehicles on the Johannesburg Stock Exchange.
Balancing Stability and Growth
The data suggests that African investors are combining traditional financial instruments with property-focused portfolios to manage economic risks. While equities and mutual funds remain relevant, real estate offers perceived stability during uncertain market cycles.
As interest rates, housing demand, and inflation trends shape African economies, property investments are increasingly positioned as a core strategy for wealth preservation and long-term financial security.
The Risevest report reinforces the growing importance of real estate investment in Nigeria, Ghana, Kenya, and Uganda as investors seek dependable returns in evolving economic environments.
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Alt Text: Real estate investment trends in Nigeria, Ghana, Kenya and Uganda
Title: Real Estate Emerges as Top Investment Choice in Africa
Caption: Property leads investment allocations across four African countries in 2025
Description: Risevest Cost of Living Report 2025 shows real estate outperforming stocks and mutual funds in Nigeria, Ghana, Kenya and Uganda
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real estate, REIT market Africa, property investment Nigeria, Kenya real estate, Ghana property market, Uganda investment, Risevest report, African investors, mutual funds Nigeria, Africa housing market
