Market in Depth
Last Updated: December 03, 2007
The Republic of Guinea, (pop. 9,842,000; GDP/cap US$386) located between Guinea-Bissau and Sierra Leone, became Communist in late 1958. After a military coup in 1984 there was talk of multi-party democracy, but President Lansana Conte rules the country with an iron fist. Should Conte die, there would be a major disruption because there is no clear successor.
The government still controls key economic sectors.
The country is poor and corrupt. Its neighbors Liberia and Sierra Leone are in a state of civil war, adding to the pressure on the economy, which now hosts hundreds of thousands of refugees.
Although the Land Tenure Code of 1996 grants foreigners the right to acquire property freely, the corrupt and inefficient legal system hinders prospective investments.
Analysis of Guinea Residential Property Market »