30.11.2012 - Uganda's capital booming but bankers jittery over defaulting housing market
Uganda, a 92,000-square-mile republic in east Africa housing 35 million residents, is booming in some of its real estate pockets but going down the drain in other sectors, according to mixed media reports in recent weeks. Bankers and developers are jittery. Loan defaults are mounting. The Africa Report.com notes "financial institutions, already worried about their high level of exposure to the real estate industry, have cut back on the loans. Banks are also selling off property to recover their loans - posing new questions about the direction the property market is taking and whether house prices are over-inflated."..............................................Full Article: Source
Print