Courting Foreign Buyers of Properties While Land Remains State-Owned
It is seldom flattering to be bracketed with North Korea and Myanmar. Ironically, Ethiopia has long shared their company on one narrow but emotive list. They are countries that forbid foreign nationals from owning bricks and mortar. That could soon change.
On May 1, 2025, the Council of Ministers approved a bill that would let non-citizens buy buildings - houses, flats or shops - so long as they pay at least 150,000 dollars for each deed, bring the money from abroad, accept a limit of five properties and leave the underlying land in the hands of the state, as the Constitution demands.
Pa...