Guest editorial: African real estate investments

High quality and rigorous research in real estate investments on the African continent is still difficult to find. There are several reasons for this which includes a lack of quality and reliable data, the lack of research skills to analyze such data, the nascent maturity of real estate markets on the continent – although some markets on the African continent are more mature than others. The aim of this special issue on African real estate investments is to provide more visibility for discourse on real estate investments on the African continent. We received considerable submissions for this special issue however the majority did not meet the rigors and expectations of the journal which led to the decision to expand the issue to accommodate a generic submission with a global lens as well as one from Europe.Hopefully these papers can stimulate readers who have a keen interest for African real estate markets. In the future, there needs to be a concerted effort to raise the standards of research in real estate investments on the African continent through the collection, storing and sharing of institutional data, collaboration with industry as well as rigorous training of masters, doctoral and faculty in data analysis and management.The special issue consists of six papers on a variety of topics which include real estate development, real estate valuation, real estate investment trusts (REITs), real estate negotiation and commercial real estate debt markets. Two papers on REITs emanate from South Africa. The first paper by Akinsomi et al. (2025) examines how decisions by South African REITs to go offshore can impact their market performance while the second paper by Moloi et al. (2025) on South African REITs examine the compliance to black economic empowerment policies and the role it plays in the liquidity of REITs. Two papers emanate from Nigeria, one on real estate valuation and the other on real estate development. The first paper on Nigeria by Oladiran et al. (2025) examines the perception of real estate valuation professionals on the nexus between property investment and valuation and its reflection on the valuation process. The second paper by Nnamani et al. (2025) on real estate development examines the risk factors associated with real estate development projects in Nigeria. Finally, there are two papers which are unrelated to Africa, but contribute to meaningful discourses which enrich this special issue. The first paper is by Wiegelmann and Falcão (2025) examines cross-cultural negotiations in real estate while the second paper by Devaney (2025) examines the debt funding gap in the European commercial real estate market.The African real estate markets are going through a renaissance, this is anchored by the growth of African cities fueled by rural-urban migration, a teeming young population, natural resources in abundance, industrialization efforts and the push for regional integration through the African continental free trade area (AfCFTA) agreement. These are all positive signs that the expected growth in African economies would impact African real estate markets in a positive way. That said, much of the African real estate markets remain mostly informal. The formalization, institutionalization and professionalization of African real estate markets are central to its future growth.The special issue showcases literature which highlights the heterogeneity of the African real estate markets including its complexity and modernity with an attempt to understand the performance of the listing of real estate firms on stock exchanges, the understanding of real estate development projects and real estate valuation decision making on the African continent. I hope that this special issue would ignite renewed interest on the African real estate markets heralding a new era of investments. Finally, it is my hope that you enjoy this special issue on African Real Estate Investments, as I have certainly enjoyed curating it.