Property prices are wobbling in Luanda, the capital of Angola, Africa’s second-biggest oil producer. Even so, prices remain high enough to make much of London or New York’s real estate look like a bargain.
This year, Luanda dropped to second in the rankings of the world’s most expensive cities for expatriates, according to an annual poll by human resources consultancy Mercer (Tokyo is now first).
One Portuguese banker working in his country’s former colony boasts that he recently renegotiated the rent of his two-bedroom apartment down to $8,000 a month; it was $12,000 two years ago.
Thanks for your interest in Euromoney!
To unlock this article:
