Are foreigners allowed to own property in Madagascar?

"Yes, foreigners are allowed to own property in Madagascar. The country has a law that allows foreign nationals to purchase and own real estate in Madagascar. However, the foreign national must obtain a permit from the Ministry of Interior and Decentralization in order to purchase property. The permit must be renewed every five years. Additionally, the foreign national must have a valid residence permit in order to purchase property in Madagascar," mentioned another expat when asked about moving to Madagascar.