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Everything you need to know before buying real estate is included in our Senegal Property Pack
Property prices in Senegal vary dramatically between regions, with Dakar commanding premium rates while secondary cities offer significant value opportunities. As of September 2025, Dakar apartments average XOF 1,110,121 per square meter ($1,820/m²), making it one of West Africa's most expensive markets alongside Accra and Lagos.
The Senegalese property market has experienced steady growth over the past five years, with prices rising 20-35% in central areas since 2020. Foreign buyers face total transaction costs of 16.75-20.5% of property value, including stamp duty, notary fees, and registry costs. Mortgage financing is available to foreigners at rates around 8.25-8.54% annually, though loan-to-value ratios typically max out at 60-80%.
If you want to go deeper, you can check our pack of documents related to the real estate market in Senegal, based on reliable facts and data, not opinions or rumors.
Dakar leads Senegal's property market with apartments averaging XOF 1,110,121/m² ($1,820/m²) and houses at XOF 926,362/m² ($1,518/m²). Secondary cities like Thiès offer apartments at XOF 808,753-814,854/m² ($1,325/m²), representing significant savings over the capital.
Total buying costs reach 16.75-20.5% of property value, including 10% stamp duty, 6% land registry fees, and 0.75-4.5% notary costs. Mortgage rates hover around 8.25-8.54% annually with 60-80% loan-to-value ratios available to foreign buyers.
Location | Apartments (XOF/m²) | Houses (XOF/m²) | Investment Appeal |
---|---|---|---|
Dakar Center | 1,110,121 | 926,362 | High yields, premium market |
Thiès Region | 808,753-814,854 | 867,587-890,298 | Growing commuter hub |
National Average | 1,042,323 | 887,875 | Balanced growth potential |
Almadies (Luxury) | Up to 5,500,000 | Up to 4,500,000 | Ultra-premium segment |
Pikine (Budget) | 500,000+ | 450,000+ | Entry-level market |
Diamniadio (Emerging) | 750,000-900,000 | 650,000-800,000 | New city development |
Rural Areas | 400,000-600,000 | 300,000-500,000 | Long-term value plays |

What's the current average property price in Senegal?
As of September 2025, Senegal's property market shows significant regional variation in pricing structures.
In Dakar, the capital and economic center, apartments average XOF 1,110,121 per square meter ($1,820/m²), while houses average XOF 926,362 per square meter ($1,518/m²). These prices position Dakar among West Africa's premium property markets, comparable to Accra and higher than Abidjan.
The national average tells a different story, with apartments at XOF 1,042,323 per square meter ($1,709/m²) and houses at XOF 887,875 per square meter ($1,455/m²). This variance reflects the substantial price gap between urban centers and secondary markets.
Thiès, representing Senegal's growing secondary cities, offers apartments between XOF 808,753-814,854 per square meter ($1,325/m²) and houses at XOF 867,587-890,298 per square meter ($1,455/m²). These markets attract buyers seeking proximity to Dakar while avoiding premium pricing.
Property prices have maintained consistent upward momentum, rising 3-7% year-over-year and 20-35% over the past five years in central areas.
How do prices differ between apartments, houses, and land?
Apartments command higher per-square-meter prices than houses across all Senegalese markets, reflecting density premiums and infrastructure access.
In Dakar, this apartment premium averages XOF 183,759 per square meter ($301/m²) over houses. Apartments benefit from security features, shared amenities, and prime location access that individual houses often lack. The apartment market also shows greater price elasticity, with luxury units in Almadies reaching XOF 5.5 million per square meter while budget apartments in Pikine start around XOF 500,000 per square meter.
Houses offer larger total living spaces and often include private outdoor areas, but their per-square-meter pricing reflects larger plot requirements and infrastructure challenges. House buyers typically purchase both structure and land, creating different value propositions compared to apartment ownership.
Land prices vary dramatically by location and development status. Developed plots in Dakar command premium prices due to scarcity and zoning restrictions. Rural and peri-urban land remains significantly cheaper, with many quality lots available below XOF 10 million in commuter areas around major cities.
The land component represents a larger portion of total house value in expensive areas like Dakar, while structure value dominates in secondary markets where land costs remain moderate.
What are the price differences across Dakar, secondary cities, and rural areas?
Dakar's property market operates at premium levels compared to other Senegalese regions, with price differentials reaching 25-40% above national averages.
Market Tier | Average Apartment Price (XOF/m²) | Average House Price (XOF/m²) | Key Characteristics |
---|---|---|---|
Dakar Premium (Almadies, Mermoz) | 3,000,000-5,500,000 | 2,500,000-4,500,000 | Luxury amenities, ocean access |
Dakar Standard | 1,110,121 | 926,362 | Central business district access |
Dakar Budget (Pikine, Parcelles) | 500,000-800,000 | 450,000-700,000 | Commuter neighborhoods |
Secondary Cities (Thiès, Kaolack) | 808,753-814,854 | 867,587-890,298 | Regional economic centers |
Emerging Markets (Diamniadio) | 750,000-900,000 | 650,000-800,000 | New development zones |
Rural/Coastal Towns | 400,000-600,000 | 300,000-500,000 | Tourism and agriculture focus |
Remote Rural Areas | 200,000-400,000 | 150,000-350,000 | Basic infrastructure |
How much does price vary depending on the size or surface area of the property?
Property pricing in Senegal demonstrates inverse correlation between unit size and per-square-meter costs, following typical market economics.
Smaller apartments (2-room units) average around XOF 941,193 per square meter, while larger 5-room apartments can reach XOF 1,526,313 per square meter in premium locations. This premium reflects the scarcity of large, well-located units and the target demographic's willingness to pay for space in urban centers.
House pricing shows similar patterns but with less dramatic variation. Larger houses benefit from economies of scale in construction and land use, but location premiums can offset these savings. A 100-square-meter house in central Dakar costs significantly more per square meter than a 200-square-meter house in Thiès.
Land transactions favor larger parcels in terms of per-square-meter pricing, particularly in developing areas where bulk purchases achieve better rates. However, prime urban land maintains premium pricing regardless of parcel size due to absolute scarcity.
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What is the total cost of purchasing, including fees, notary, and agent commissions?
Total property acquisition costs in Senegal range from 16.75% to 20.5% of the property's purchase price, representing substantial additional expenses beyond the base price.
Buyers face the largest single cost in stamp duty at approximately 10% of property value, followed by land registry fees at 6%. Notary fees range from 0.75% to 4.5% depending on property value and complexity. These three components alone account for 16.75% to 20.5% of total transaction costs.
Agent commissions typically range from 5% to 8% of property value, usually paid by sellers but sometimes negotiated differently. Legal fees, surveyor costs, and miscellaneous administrative expenses add additional costs that vary by transaction complexity.
Foreign buyers should budget an additional 2-3% for currency conversion, international transfer fees, and specialized legal advice. Property inspections, translations, and expedited processing can add XOF 500,000 to XOF 2 million depending on property value and urgency.
These costs make Senegal's property transactions more expensive than many neighboring countries, requiring careful budget planning beyond the base purchase price.
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What taxes apply to buying and owning property in Senegal?
Senegal's property tax system involves both acquisition taxes and ongoing ownership obligations, though rates remain relatively moderate compared to developed markets.
The primary acquisition tax is stamp duty at approximately 10% of property value, collected during the purchase process. This tax applies to both residential and commercial properties, with limited exemptions for certain development projects or first-time buyers in specific programs.
Annual property tax equals 5% of the property's rental value in Dakar and other major cities with formalized land registries. Rural properties or those without clear title documentation may face different assessment methods. The government is modernizing property tax collection using satellite imagery and improved valuation systems, potentially affecting future tax obligations.
Property owners also face transfer taxes if selling within specific timeframes, though long-term holders typically benefit from reduced rates. Capital gains taxes apply to property sales, with rates varying based on holding period and property type.
Foreign property owners face the same tax obligations as Senegalese citizens, without additional penalties or restrictions. However, tax compliance requires proper documentation and may benefit from local legal assistance.
How do mortgages work in Senegal, and what are typical interest rates and conditions?
Senegal's mortgage market serves both local and foreign buyers, though lending conditions reflect emerging market risk premiums and regulatory requirements.
Current mortgage rates range from 8.25% to 8.54% annually for fixed-rate loans, typically structured over 15 to 20-year terms. These rates align with Senegal's prime lending rate of 8.54% as of July 2025, reflecting central bank monetary policy and regional economic conditions.
Loan-to-value ratios typically range from 60% to 80%, meaning buyers must provide 20% to 40% down payments. Banks prefer properties in urban areas with clear title documentation, making Dakar and secondary city properties easier to finance than rural land or properties with unclear ownership.
Foreign borrowers face additional documentation requirements including proof of income, employment verification, and sometimes local guarantees. Some banks require borrowers to maintain accounts with them throughout the loan term, affecting overall banking relationships.
Monthly mortgage payments as a percentage of household income average over 240% for typical Senegalese households, indicating that mortgage financing primarily serves higher-income demographics and foreign buyers with substantial earning capacity.
What are the most expensive neighborhoods, the budget-friendly ones, and the up-and-coming areas?
Senegal's property market features distinct neighborhood categories with dramatically different pricing and investment characteristics.
The most expensive neighborhoods center on Dakar's Almadies peninsula, Mermoz, and Les Mamelles, where luxury apartments can exceed XOF 5.5 million per square meter ($9,000/m²). These areas offer ocean access, modern infrastructure, international amenities, and proximity to diplomatic districts. Properties here target affluent Senegalese, expatriates, and international buyers seeking premium lifestyle options.
Budget-friendly areas include Pikine, Parcelles Assainies, and Rufisque, where basic apartments start around XOF 500,000 per square meter ($820/m²). These neighborhoods provide affordable housing for middle-class Senegalese families and entry-level foreign buyers. Infrastructure varies, but public transportation and basic services remain accessible.
Up-and-coming areas show the strongest investment potential, led by Diamniadio's new city development project. This planned urban center features modern infrastructure, government facility relocations, and major private investment. Thiès benefits from renewable energy projects and improved transportation links to Dakar. Coastal towns like Saly attract tourism development and second-home buyers.
It's something we develop in our Senegal property pack.

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 give examples of recent purchase prices in each type of area?
Recent transaction data illustrates the substantial price variations across Senegal's property market segments.
In central Dakar, a typical 60-square-meter apartment sold for XOF 75-80.25 million ($123,000-$132,000) in 2025. These properties featured modern amenities, security systems, and central location access. Larger 80-square-meter units in the same areas reached XOF 100-120 million ($164,000-$197,000).
Thiès market examples show 50-square-meter apartments selling for XOF 40-41 million ($65,000-$67,000), representing significant savings over Dakar while maintaining reasonable amenities and infrastructure access. Houses in Thiès typically sell for XOF 60-80 million for 100-square-meter properties.
Luxury market transactions in Almadies reached XOF 275-330 million ($450,000-$540,000) for 80-100 square meter apartments with ocean views and premium amenities. These sales target high-net-worth individuals and represent Senegal's most expensive residential market segment.
Budget suburban areas like Pikine featured apartments selling for XOF 25-50 million ($41,000-$82,000) for basic but functional properties. Rural land transactions often completed below XOF 10 million for developable lots in commuter areas, offering long-term value potential.
What are the smartest investment choices today if you want to live, rent short-term, rent long-term, or resell later?
Investment strategy in Senegal's property market depends heavily on intended use and timeline, with each approach favoring different locations and property types.
For personal residence, Dakar's newer secure suburbs and emerging neighborhoods with infrastructure development offer the best combination of lifestyle and value retention. Areas like Diamniadio provide modern amenities while avoiding premium Almadies pricing. Secondary cities like Thiès work for buyers prioritizing value over central location access.
Short-term rental investments perform best in tourism and business zones including Saly, Dakar Plateau, and Les Almadies. These areas generate rental yields of 6.3% to 9% annually, benefiting from business travel, tourism, and diplomatic presence. Properties targeting this market need modern amenities and reliable infrastructure.
Long-term rental strategies favor Dakar proper, Diamniadio, and commuting cities with growing employment bases. Rental demand remains strong due to urbanization trends and economic growth. Properties targeting middle-class tenants in areas with public transportation access show consistent occupancy and rental growth.
Resale-focused investments should target infrastructure-linked areas including Diamniadio new city zones, parts of Thiès with renewable energy development, and secondary city expansion areas. These markets benefit from government investment and economic development trends likely to drive long-term price appreciation.
How have property prices changed compared with one year ago and five years ago?
Senegal's property market has demonstrated consistent growth patterns over both short and medium-term periods, outpacing inflation and economic growth rates.
Year-over-year price increases from 2024 to 2025 averaged 3% to 7% across different market segments. Dakar's central areas led this growth, while secondary cities and rural markets showed more moderate appreciation. This growth rate reflects continued urbanization, economic expansion, and limited supply in desirable areas.
Five-year price appreciation from 2020 to 2025 reached 20% to 35% in central Dakar and major towns. Apartment prices in prime areas rose from approximately $1,200 per square meter in 2020 to $1,800 per square meter in 2025, representing a 50% increase. Houses showed similar patterns but with slightly lower appreciation rates.
The national average appreciation rate of 5.2% annually exceeded both inflation and GDP growth, indicating real value creation in Senegal's property sector. This performance attracted both domestic and foreign investment, contributing to continued price pressure in desirable areas.
Secondary markets outperformed prime markets in percentage terms, with areas like Thiès and emerging neighborhoods showing 40% to 60% price appreciation over five years as infrastructure development and economic growth reached these areas.
What are the forecasts for prices in one year, five years, and ten years, and how do they compare with other big African cities?
Property price forecasts for Senegal indicate continued growth driven by urbanization, economic development, and regional stability factors.
One-year projections suggest 3% to 7% price increases continuing through 2026, maintaining recent growth patterns. This growth reflects ongoing infrastructure projects, economic expansion exceeding 10% GDP growth, and continued urbanization pressures on housing supply.
Five-year forecasts predict property price increases exceeding 20% through 2030, particularly in infrastructure-adjacent areas and emerging urban centers. Dakar's continued economic importance and limited land supply support sustained price appreciation, while secondary cities benefit from spillover demand and government development initiatives.
Ten-year projections anticipate Dakar property prices exceeding $2,000 per square meter by 2035, supported by urbanization trends targeting 60% urban population by 2035. Senegal's political stability and economic growth position it favorably among West African markets for sustained property value appreciation.
Compared to other major African cities, Dakar's current pricing at $2,193 per square meter in city center areas exceeds Abidjan ($2,061) but remains below Accra ($2,500+) and Lagos premium areas. Senegal's rental yields of 6.3% to 9% and mortgage rates around 8.15% remain attractive relative to regional competitors.
It's something we develop in our Senegal property pack.
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.
Senegal's property market offers compelling opportunities for both residents and investors, with Dakar commanding premium prices while secondary cities provide excellent value propositions.
Buyers should carefully budget for substantial transaction costs reaching 20% of property value, while mortgage financing remains accessible to foreign buyers at competitive regional rates.
Sources
- TheAfricanVestor - Senegal Price Forecasts
- TheAfricanVestor - Dakar Price Forecasts
- Properstar - Senegal House Prices
- Numbeo - Senegal Property Investment
- TheAfricanVestor - Senegal Area Guide
- TheAfricanVestor - Senegal Real Estate Trends
- TheAfricanVestor - Buying Land in Senegal
- Global Property Guide - Senegal Buying Guide
- TheAfricanVestor - Senegal Real Estate for Foreigners
- Trading Economics - Senegal Lending Rate