Property for sale in Somalia

1/ Capital: Mogadishu

Is the largest city in Somalia and the nation's capital. Located in the coastal Benadir region on the Indian Ocean, the city has served as an important regional port for centuries.

2/ Country: Somalia

Is a country located in the Horn of Africa. It is bordered by Djibouti to the northwest, Kenya on its southwest, the Gulf of Aden with Yemen on its north, the Indian Ocean at its east, and Ethiopia to the west.

3/ Property for sale in Somalia

Somalia has few natural resources. Sixty percent of the population is nomadic or semi-nomadic. The displacements of the war have taken their toll on the towns: some are very congested, while others have been totally abandoned. The infrastructure is devastated.

Land ownership in Somalia is based on race or tribe; usually clan members jointly own property. Till recently, no cadastral system existed; demarcations were decided between the locals. The UN embarked on a program of land surveys in 1999, granting titles to land owners.

Despite the lack of effective national governance, Somalia has maintained a healthy informal economy, largely based on livestock, remittance/money transfer companies, and telecommunications. Agriculture is the most important sector, with livestock normally accounting for about 40% of GDP and about 65% of export earnings. Somalia's small industrial sector, based on the processing of agricultural products, has largely been looted and sold as scrap metal. Somalia's service sector also has grown.

Statistics on Somalia's GDP, growth, per capita income, and inflation should be viewed skeptically. In late December 2004, a major tsunami caused an estimated 150 deaths and resulted in destruction of property for sale in coastal areas.