Last month, the South African Independent Electoral Commission announced in frustration that it needs USD 22.9 million to collect addresses ahead of a court-mandated deadline, a problem compounded by the fact that most townships don’t have well-marked street names.
When looking to buy a home or other property in the U.S., location is typically at the top of the list—many buyers value properties with access to amenities like schools, parks, and an easy commute. But is that value shared by home buyers in developing countries? University of Illinois economist Hope Michelson looked at property transactions in Kenya near what she assumed would be a highly desirable location and found the real estate mantra, "location, location, location," wasn't necessarily the guiding principle there.
Investment in urban infrastructure such as new roads, public utilities or parks invariably increases real-estate prices. In Pakistan, stories of riches earned overnight due to new highways passing through agricultural lands are common.