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Key Contacts

Africa Valuations

Lusaka | Zambia

Zambia is a politically stable country with a fast-growing economy, which is primarily driven by its large copper industry.

Market highlights

  • The country’s geographical position makes its an important gateway between Central, Eastern and Southern Africa.
  • Zambia is a major target for South African retailers’ expansion plans; Shoprite, for example, now has 28 Zambian stores.
  • Lusaka has several modern retail malls including Manda Hill, Arcades, Levy Junction, East Park and Cosmopolitan Mall.
  • A 50% stake in Cosmopolitan Mall was acquired by the South African fund Mara Delta in 2016 for US$37.1 million.
  • York Commercial Park, a modern logistics development by Actis and Improvon, was launched in 2016.


Property market data


Prime rents

Prime yields


US$ 20/ sq m/ month



US$ 40/ sq m/ month



US$ 6/ sq m/ month


(4 bed exclusive house)

US$ 3,500/ month



Market statistics & forecasts

Zambia population - 16 million

Zambia population forecast, 2025 - 22 million

Lusaka population - 2.5 million

Lusaka population forecast, 2025 - 3.5 million

Zambia GDP growth, 2016 - 3.0%

Zambia GDP growth forecast, 2017 - 4.0%

Zambia GDP (PPP) per capita, 2016 - US$ 3,899

Zambia urbanisation rate - 41%