At High Yield Landlord, one of the things that sets us apart is that we do not confine our research and investments exclusively to U.S. markets. Real estate is a global asset class, and we believe investors should take a global approach, especially today as we are facing extreme uncertainty in most of the world. In the past, we have run dedicated series exploring opportunities in Asian REITs, Latin American REITs, and Middle Eastern REITs. These projects have helped us discover unique opportunities that most U.S.-focused investors overlook.
Next month, we are excited to launch a new series focused on REIT and REIT-like investment opportunities in Africa.
Why Africa, and why now?
Africa could be one of the most compelling real estate opportunities of the coming decades. Consider the following:
Fastest population growth worldwide: Africa is expected to account for the majority of global population growth, with all of the world’s ten fastest-growing cities projected to be in Africa.
Rising middle classes: As economies mature, demand for modern housing, retail, logistics, and healthcare properties will rise sharply.
AI-driven leapfrogging: New technologies may help close the gap, improving access to education, healthcare, and governance, while reducing corruption and inefficiencies.
Attractive valuations: Despite these trends, valuations of African-listed REITs and real estate companies remain very low in many cases.
Portfolio diversification: Parts of Asia and Eastern Europe are becoming increasingly difficult or even uninvestable. Africa represents a vast, underexplored frontier that could attract significant foreign capital as the region stabilizes and develops.
What to expect
In September, I will travel across several African countries to get familiar with their real estate markets, meet with local professionals, and study REITs and listed property firms on the ground. My goal is to better understand which markets are investable, what risks need to be considered, and where the most promising opportunities lie.
We already own a successful position in Helios Towers, and it has shown the potential that African real estate investments can deliver (click here to read our investment thesis). But we believe there is much more to uncover, and this new series will help us capitalize further.
Throughout September and October, you can expect to receive multiple articles with boots-on-the-ground insights into African REITs and property markets.
Final thoughts
Our mission at High Yield Landlord is to help members maximize returns from real estate investments worldwide, not just in one geography. Africa represents a new frontier for REIT investors, and we are excited to bring you first-hand research that few other investors will have access to.
If you are not interested in African REITs, do not worry — our main focus remains on the U.S. REIT market. The African series will be a complement, not a shift in strategy, and U.S. REITs will continue to receive the majority of our attention.
Stay tuned for the first reports in September.
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Analyst's Disclosure: I/we have a beneficial long position in the shares of all companies held in the CORE PORTFOLIO, RETIREMENT PORTFOLIO, and INTERNATIONAL PORTFOLIO either through stock ownership, options, or other derivatives. We also own a position in FarmTogether. High Yield Landlord® ('HYL') is managed by Leonberg Research, a subsidiary of Leonberg Capital. All rights are reserved. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. The newsletter is impersonal and subscribers/readers should not make any investment decision without conducting their own due diligence, and consulting their financial advisor about their specific situation. The information is obtained from sources believed to be reliable, but its accuracy cannot be guaranteed. The opinions expressed are those of the publisher and are subject to change without notice. We are a team of five analysts, each contributing distinct perspectives. Nonetheless, Jussi Askola, the leader of the service, is responsible for making the final investment decisions and overseeing the portfolio. We do not always agree with each other, and an investment by Jussi should not be taken as an endorsement by other authors. Past performance is no guarantee of future results. Our portfolio performance data is provided by Interactive Brokers and believed to be accurate but its accuracy has not been audited and cannot be guaranteed. Our portfolio may not be perfectly comparable to the relevant index. It is more concentrated and may at times use margin and/or invest in companies that are not typically included in REIT indexes. Finally, High Yield Landlord is not a licensed securities dealer, broker, US investment adviser, or investment bank. We simply share research on the REIT sector.
Can’t wait to hear what your findings of African REITs are
Looking forward to the updates!