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Understanding property prices in Dakar is crucial for anyone considering investing in Senegal's capital city. Property prices vary significantly across different neighborhoods and property types, with luxury apartments in Almadies commanding up to $9,000 per square meter while affordable areas like Pikine offer options from $820 per square meter. The Dakar residential market has experienced steady growth over the past five years, with an average appreciation of 23% citywide.
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As of September 2025, the average price per square meter in Dakar ranges from 500,000 CFA ($820) in affordable areas like Pikine to 5.5 million CFA ($9,000) in luxury districts like Almadies.
The city's property market has grown 23% over the past five years, with prime neighborhoods showing stronger appreciation than budget-friendly areas.
| Property Type/Area | Price per m² (CFA) | Price per m² (USD) |
|---|---|---|
| Standard Apartments | 1,108,167 - 1,110,121 | $1,800 |
| Houses (Average) | 593,333 - 926,362 | $1,500 |
| Almadies Luxury | 3,500,000 - 5,500,000 | $5,700 - $9,000 |
| Ngor Area | 2,000,000 - 3,000,000 | $3,280 - $4,920 |
| Mermoz District | 1,500,000 - 2,000,000 | $2,460 - $3,280 |
| Pikine (Affordable) | 500,000 - 1,000,000 | $820 - $1,640 |
| Land (City Average) | 166,650 | $273 |
What's the average price per square meter in Dakar by property type?
The Dakar property market shows significant variation in pricing based on property type and location.
Standard apartments in Dakar average between 1,108,167 and 1,110,121 CFA per square meter, which translates to approximately $1,800 per square meter as of September 2025. Houses typically cost less per square meter, ranging from 593,333 to 926,362 CFA per square meter (around $1,500 per square meter).
Luxury apartments in premium areas like Almadies command much higher prices, reaching 3.5 to 5.5 million CFA per square meter (up to $9,000 per square meter). These properties typically feature ocean views, modern amenities, and cater to international buyers and expatriate professionals.
Affordable housing options in areas like Pikine offer more budget-friendly prices between 500,000 and 1 million CFA per square meter. Land purchases across the city average around 166,650 CFA per square meter ($273 per square meter), though this varies dramatically by neighborhood.
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How do prices vary across different neighborhoods in Dakar?
Dakar's neighborhoods show dramatic price differences based on location, amenities, and development status.
Almadies stands as the most expensive area, with prices ranging from 3.5 to 5.5 million CFA per square meter. This coastal neighborhood attracts luxury buyers due to its proximity to the ocean, international schools, and upscale dining establishments. The area maintains strong demand from expatriate professionals and wealthy Senegalese families.
Ngor follows as the second-most expensive area, with prices between 2 and 3 million CFA per square meter. This traditional neighborhood combines modern development with cultural heritage, making it popular among both locals and international buyers interested in authentic Senegalese living.
Mid-range neighborhoods include Mermoz (1.5 to 2 million CFA per square meter), which is experiencing gentrification and attracting young professionals. Plateau, the business district, ranges from 1.1 to 1.5 million CFA per square meter, while Sacré-Cœur offers prices between 1 and 1.4 million CFA per square meter.
Budget-friendly options include Pikine, where prices range from 500,000 to 1 million CFA per square meter, making it accessible for first-time buyers and those seeking affordable housing options.
How does property size affect the price per square meter?
Property size significantly impacts the price per square meter in Dakar's residential market.
Smaller apartments, particularly 2-room units, typically cost around 949,000 CFA per square meter. These properties appeal to young professionals, students, and investors seeking rental income from the growing urban population.
Larger apartments, such as 5-room units, command higher prices at approximately 1,529,000 CFA per square meter. The premium for larger properties reflects the higher quality finishes, better layouts, and increased amenities typically found in spacious units.
Luxury properties with ocean views or located in prime districts like Almadies show even greater premiums for size. Large luxury apartments often exceed 3 million CFA per square meter due to their exclusive locations, high-end finishes, and comprehensive amenities like pools, security, and parking.
Single-family houses generally offer better value per square meter compared to apartments, particularly in suburban areas where land costs are lower and construction economies of scale can be achieved.
What's the total purchase cost including fees and taxes?
Property buyers in Dakar should budget approximately 10% above the purchase price for transaction costs.
| Cost Component | Percentage | Details |
|---|---|---|
| Notary Fees | 2-3% | Required for all transactions |
| Stamp Duty | Usually 10% | Government registration fee |
| Legal Fees | 1-2% | Lawyer representation |
| Agent Commission | 3-5% | If using real estate agent |
| Survey/Inspection | 0.5-1% | Property assessment |
| Title Search | 0.5% | Legal verification |
| Bank Fees | 1-2% | If financing purchase |
Senegal does not impose annual property taxes or capital gains taxes as of 2025, making it attractive for property investors. The buyer typically bears most transaction costs, unlike some markets where costs are shared between buyer and seller.
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What are the mortgage and financing costs for buying property?
Financing options exist for property purchases in Dakar, though terms vary for foreign versus local buyers.
Senegalese mortgage rates typically range from 6% to 8% per annum for foreign buyers, with slightly lower rates available for local residents. Banks generally offer maximum loan-to-value ratios of 70% to 80%, requiring substantial down payments from buyers.
Typical mortgage terms extend from 10 to 20 years, with most banks preferring shorter terms for foreign nationals. Interest rates may be fixed or variable, depending on the lender and market conditions at the time of application.
Foreign buyers face additional documentation requirements, including proof of income, bank statements from their home country, and sometimes local employment verification. Some banks require buyers to maintain accounts with them for several months before approving mortgage applications.
Alternative financing options include developer financing for new construction projects, though these typically carry higher interest rates and shorter terms than traditional bank mortgages.
What are the best affordable areas for living in Dakar?
Several neighborhoods offer excellent value for residents seeking affordable living options in Dakar.
Pikine represents the most budget-friendly option, with properties ranging from 500,000 to 1 million CFA per square meter. Despite lower prices, the area offers good transportation links to central Dakar and growing commercial development.
Rufisque provides another affordable alternative with strong growth potential due to ongoing urban renewal projects and improved transportation infrastructure. The area offers significantly lower entry costs while maintaining reasonable access to Dakar's business districts.
Parcelles Assainies offers middle-ground pricing with better amenities than the most budget-friendly areas. The neighborhood features planned development, decent infrastructure, and growing commercial services.
For those seeking balance between affordability and amenities, areas like Sacré-Cœur and parts of Fann/Mermoz offer reasonable prices while providing better access to schools, healthcare, and shopping facilities.
How do short-term versus long-term rental returns compare?
Rental strategies in Dakar show significant differences in returns and operational requirements.
Short-term rentals can generate up to 30% higher annual returns compared to long-term rentals, particularly in tourist-friendly areas and business districts. Properties in Almadies and Ngor perform especially well for short-term rentals due to their appeal to business travelers and tourists.
However, short-term rentals require substantially more management effort, including regular cleaning, utility management, guest communication, and higher turnover costs. Property owners must also navigate local regulations and platform fees that can reduce net returns.
Long-term rentals offer more stable income streams with yields typically ranging from 5% to 7% in prime locations like Almadies. The expatriate community and international organizations provide steady demand for quality long-term rental properties.
Prime rental rates as of September 2025 include approximately 522,000 CFA per month for one-bedroom apartments in city center locations, while three-bedroom units command around 1.06 million CFA per month.
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Which areas offer the best opportunities for capital appreciation?
Several Dakar neighborhoods show strong potential for property value growth over the coming years.
Almadies continues to lead appreciation prospects with forecasted annual growth of 3% to 7%. The area's established luxury market, coastal location, and continued international demand support sustained value growth.
Mermoz represents an emerging opportunity with ongoing gentrification attracting young professionals and families. The neighborhood's central location and improving infrastructure suggest strong medium-term appreciation potential.
Ngor offers compelling growth prospects due to its cultural significance, tourism connections, and artistic community development. The area's unique character and growing international recognition support above-average appreciation expectations.
Rufisque presents the strongest emerging market opportunity, with urban renewal projects, improved transport links, and affordable entry points suggesting potential for significant capital growth as development progresses.
Plateau's position as the business district ensures steady demand and modest but reliable appreciation, particularly for commercial-adjacent residential properties.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Senegal versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.
Can you provide specific current purchase price examples?
Current market prices in Dakar show clear patterns across different property types and locations.
A standard 80-square-meter apartment in central Dakar currently costs approximately 88.8 million CFA ($145,000) based on the average price of 1.11 million CFA per square meter. Similar properties in premium areas like Almadies would cost between 280 to 440 million CFA ($459,000 to $721,000).
Houses show different pricing dynamics, with a typical 150-square-meter house in an average neighborhood costing around 139 million CFA ($227,000). The same-sized property in Ngor might cost 300 to 450 million CFA ($492,000 to $738,000).
Land purchases vary dramatically by location. A 500-square-meter plot in Ngor costs between 30 to 60 million CFA ($49,000 to $98,000), while similar plots in affordable areas like Pikine might cost 15 to 30 million CFA ($24,600 to $49,200).
Luxury apartments in Almadies with ocean views can reach 500 to 800 million CFA ($820,000 to $1.31 million) for 150-square-meter units, reflecting the premium for location and amenities.
Which neighborhoods are most expensive, emerging, and budget-friendly?
Dakar's neighborhood hierarchy reflects clear distinctions in pricing and development status.
The most expensive neighborhoods center around Almadies, which maintains its position as Dakar's premium residential area with the highest prices and most exclusive properties. Mermoz and Plateau follow as established high-value areas with strong infrastructure and amenities.
Emerging neighborhoods showing growth potential include Ngor, which combines traditional character with modern development, and Rufisque, benefiting from urban renewal initiatives and infrastructure improvements. Sacré-Cœur also shows emerging status with transportation projects like the tram system enhancing connectivity.
Budget-friendly areas include Pikine, Parcelles Assainies, and Grand Dakar, which offer affordable entry points for first-time buyers and investors seeking lower-cost opportunities with potential for long-term appreciation.
1. Most Expensive Areas: - Almadies: 3.5M - 5.5M CFA/m² - Mermoz: 1.5M - 2M CFA/m² - Plateau: 1.1M - 1.5M CFA/m²2. Emerging Areas: - Ngor: 2M - 3M CFA/m² - Rufisque: Strong growth potential - Sacré-Cœur: 1M - 1.4M CFA/m²3. Budget-Friendly Areas: - Pikine: 500K - 1M CFA/m² - Parcelles Assainies: Similar range - Grand Dakar: Affordable optionsHow have prices changed over the past one and five years?
Dakar's property market has experienced steady growth over recent years with notable acceleration in premium segments.
Over the five-year period from 2020 to 2025, the citywide average has grown approximately 23%. Almadies specifically showed 20% growth over this period, demonstrating the stability of the luxury market segment even during global economic uncertainty.
The most recent year has seen more modest but consistent growth of 3% to 7%, with higher appreciation rates concentrated in prime and luxury districts. This recent performance suggests a maturing market with sustainable growth patterns.
The gap between luxury and affordable areas has widened significantly over the five-year period, with luxury properties outpacing lower-end districts by substantial margins. This trend reflects increasing international interest in premium Dakar properties and growing wealth concentration among high-income buyers.
Rental markets have shown even stronger growth, with rental rates increasing 25% to 30% over five years, indicating strong demand from the expanding expatriate community and urban migration patterns.
It's something we develop in our Senegal property pack.
What's the forecast for future price growth in Dakar compared to other cities?
Dakar's property market outlook shows continued but moderate growth with regional leadership positioning.
Short-term forecasts for the next year suggest 3% to 7% appreciation, with Almadies, Plateau, and Mermoz leading growth rates. This growth reflects continued economic development, infrastructure improvements, and sustained international interest in Senegalese real estate.
Five-year projections indicate steady but moderate appreciation of 15% to 25% overall, depending on economic conditions and tourism trends. Infrastructure projects and foreign investment policies will serve as key growth drivers during this period.
Ten-year outlook suggests continued outperformance of prime areas, though with greater price sensitivity in lower-end districts. Dakar is expected to maintain its position as having the third-highest property prices in West Africa, after Lagos and Abidjan, while offering less volatility than Lagos and higher foreign demand than Accra.
Regional comparison positions Dakar favorably due to political stability, French language advantages, and growing economic ties with Europe and North America. The city's property market shows more predictable growth patterns compared to oil-dependent economies in the region.
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Dakar's property market offers diverse opportunities for both investors and residents, with clear price differentials across neighborhoods and property types.
Whether seeking luxury coastal properties in Almadies or affordable options in Pikine, understanding local market dynamics and transaction costs is essential for successful property investment in Senegal's capital.
Sources
- The AfricanVestor - Dakar Price Forecasts
- The AfricanVestor - Senegal Price Forecasts
- Loger Dakar - Best Areas to Buy
- Loger Dakar - Buying Real Estate in Senegal
- Radarr Africa - Rental Profitability
- The AfricanVestor - Senegal Area Analysis
- Properstar - Senegal House Prices
- Numbeo - Dakar Property Investment