Inflation in the property market

Land prices have lately risen in Somaliland, mainly due to inflation, and the lack of trust people have for the local banking system. Traditionally people have always been investing in land, in order to save money. However, in later years this trend has been exacerbated by an influx of retirees from the diaspora.

Many experts are saying that the baby boomers generation in the diaspora are now returning in great numbers, in order to retire, and to avoid the rising cost of living, in places like Europe.

Although there is no exact data regarding the land prices in the metropolitan area of Hargeisa. Sicirka.com has checked with several brokers.
Plots in the outskirts of Hargeisa that used to go for $5,000, is now valued at $20,000. The skyrocketing land prices around Hargeisa has created opportunities for the neighbouring towns.

Downtown Hargeisa has been gentrified a long time ago, and it's virtually impossible for the average somalilander to buy a property in that area.

Also land that previously used to be considered useless, is now fetching high prices. This is most apparent in plots adjacent to the Hargeisa bypass road.
Land in this area used to be avoided by investors, mainly because of its porous soil, which makes construction expensive. However, now that a new highway has been constructed through this area, many buyers are looking with new interest.