Real Estate is one of the most profitable business ideas in Uganda that you could ever think of. There is an acute shortage of housing in the major urban centers and the upsurge in population doesn’t make it any better. Entrepreneurs will see this challenge as a profitable business opportunity. You can never go wrong will real estate business.
Lands appreciate in value on a monthly basis and the price will be slightly higher 6 months from now. There is a common misconception that real estate business only deals with buying and selling of property. This is not true because there are other facets of the business that do not necessarily involve selling of property. This begs the question, which are the lucrative business ideas in Uganda that are profitable?
There are people who earn a decent living from real estate brokerage. It is a feasible business opportunity. It is the intermediary aspect of the real estate business. To be successful, you need;
This will determine the level of success of this type of business. A broker is the one who links the buyer and the seller. A real estate broker should have wide network so as to know the properties that are currently on sale and their prices.
You need to market yourself in the real estate business. Stand out from your competitors. Be active on social media and real estate platforms. Don’t quit your day job unless you’re certain that you can comfortably live with the earnings from your business.
2. Property management
The work of a property manager is to take care of the property on the owner’s behalf. This type of business has been in existence but it is not as professional as it should be. There are a lot of properties that are in dire state and would do with the help of a property manager. You can start a professional company which caters for property management. Chances are high that you will succeed since it is a viable business opportunity yet to be exploited from a professional point of view.
The safest and the most profitable investment machinery are in real estate. If you are not a billionaire, there is no reason as to why you should be keeping your 10 million in a bank. Search for land at low cost land and sell it after a year. Kampala as a Cosmopolitan city is steadily growing. You will at least make a 30% profit. The same can also be done with houses only that they will require a bigger capital.
4. Real Estate magazine
I am yet to come across any magazine dealing with real estate. Either they are poorly marketed or are not in existence. Starting a real estate magazine is one of the profitable business ideas in Uganda that you can initiate with low capital. You should focus on low cost housing as the magazine is targeting the middle class.
5. Real Estate Expo
Expos are the “in thing” when it comes to real estate business in Kenya. Such expos are held almost on a monthly basis. The case is different here in Uganda and that is where the business opportunity comes in. Approach potential sponsors in the real estate business. If you have thoroughly planned it out, any bank that deals with mortgage financing will be more than willing to sponsor the event. If real estate is your passion, you can run a profitable business by organizing real estate expos.
Being a tech savvy person, I have this business idea of creating an app where people can search for houses or property for sale or for renting. You input your variables and the app does the searching for you. This will eliminate the headache of having to deal with dishonest brokers. The logistics are in the pipeline and I am studying the viability of the idea. You can go ahead and “hijack” it. I won’t sue you🙂 There you have it, some of the most lucrative business ideas in Uganda in the real estate industry.