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Understanding rental prices in Senegal is crucial for property investors and those considering relocation to this West African nation.
As of September 2025, Senegal's rental market shows strong performance with yields ranging from 6.3% to 9.0% nationally, making it an attractive destination for real estate investment. Dakar commands the highest rents, with city center apartments averaging 490,000-521,667 XOF monthly, while smaller towns offer properties at up to 55% lower costs. The market is driven by steady demand from expats, students, families, and a growing tourism sector, particularly in coastal areas.
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Senegal's rental market offers strong returns with Dakar leading at 6.3-9.0% yields, while regional cities provide more affordable options at 25-55% lower costs.
Total rental costs typically exceed base rent by 15-30% when including utilities, maintenance, and fees, with short-term rentals generating up to 30% higher revenues than long-term arrangements.
| Property Type | Dakar City Center (XOF/month) | Outside Dakar (XOF/month) | Typical Tenant Profile |
|---|---|---|---|
| Studio/Small Apartment | 174,000-225,000 | 80,000-160,000 | Students, young professionals |
| 1-Bedroom Apartment | 490,000-521,667 | 211,667-363,600 | Singles, couples, expats |
| 3-Bedroom Apartment | 1,064,000-1,283,429 | 600,000-900,000 | Families, corporate tenants |
| Mid-Range Villa | 600,000-2,870,000 | 400,000-1,500,000 | Expat families, diplomats |
| Premium Beachside Villa | 1,300,000-2,761,000 | 800,000-1,800,000 | Corporates, affluent expats |
| Per Square Meter Rate | 1,100,000-1,110,000 | 500,000-830,595 | Varies by location |
| Luxury Areas (Almadies) | Up to 5,500,000/m² | N/A | High-end expats, diplomats |
What's the average monthly rent in Senegal by property type?
Rental prices in Senegal vary significantly by property type and location, with Dakar commanding the highest rates.
Apartments in Dakar city center average 490,000-521,667 XOF monthly (approximately $800-$850), while similar properties outside the city center range from 211,667-363,600 XOF monthly ($345-$600). Three-bedroom apartments in central Dakar typically rent for 1,064,000-1,283,429 XOF monthly ($1,730-$2,085).
Studios represent the most affordable option, though direct listings are limited. In outer Dakar districts like Pikine and Yoff, studios start around 140,000-225,000 XOF monthly ($230-$370), typically featuring smaller spaces and older construction. These properties primarily attract students and young professionals entering the rental market.
Villas command premium prices with mid-range properties in Dakar ranging from 600,000-2,870,000 XOF monthly, depending on size, amenities, and exact location. Premium beachside villas with ocean views and pools typically rent for 1,300,000-2,761,000 XOF monthly, often featuring three or more bedrooms and luxury amenities that appeal to corporate tenants and affluent expats.
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How does rent differ between Dakar, mid-sized cities, and smaller towns?
Geographic location creates substantial rental price variations across Senegal, with Dakar significantly outpacing other regions.
Dakar represents the most expensive rental market in Senegal, with prices averaging 23% higher than the national average. Central Dakar districts command the highest premiums, while luxury neighborhoods like Almadies, Point E, and Ngor far exceed even the city mean. The capital's status as the economic and political center drives consistent demand from international organizations, embassies, and multinational corporations.
Mid-sized cities including Thiès, Saly, and Saint-Louis offer apartment rentals typically 25-40% lower than Dakar rates. These cities maintain price per square meter rates of 814,854-830,595 XOF, making them attractive alternatives for families and businesses seeking proximity to Dakar without premium pricing. Saly particularly benefits from tourism infrastructure, supporting higher rental rates within this category.
Small towns across Senegal can offer rentals up to 55% cheaper than Dakar, with studios and two-bedroom apartments available from 80,000-160,000 XOF monthly. These markets primarily serve local populations and offer limited amenities compared to urban centers, but provide significant cost savings for budget-conscious tenants or investors seeking entry-level properties.
Regional economic activity, infrastructure development, and proximity to major transportation networks directly influence these price differentials across Senegal's rental markets.
What's the typical rent per square meter, and how does it scale with property size?
Per square meter rental rates in Senegal follow clear patterns based on location and property characteristics.
Dakar apartments command 1,100,000-1,110,000 XOF per square meter (approximately $1,800/m²), representing the national benchmark for urban rental pricing. This rate reflects the capital's infrastructure, amenities, and international business presence that justify premium pricing for quality properties.
Luxury districts like Almadies can reach up to 5,500,000 XOF per square meter, targeting high-end expats, diplomats, and corporate executives willing to pay substantial premiums for exclusive locations, security, and amenities. These properties often feature modern construction, ocean proximity, and comprehensive service packages.
Houses across Senegal show median rates of 593,333 XOF per square meter, with smaller towns and suburban areas falling below 500,000 XOF per square meter. This lower rate reflects different construction standards, fewer amenities, and reduced demand compared to central urban locations.
Property size scaling shows inverse relationships between unit size and per-meter pricing. Smaller properties and studios typically command higher per-meter rates but lower total rental costs, making them accessible to individual tenants while maximizing landlord returns per square meter. Larger units including three-bedroom apartments and villas offer lower per-meter rates as total prices increase, appealing to families and corporate tenants requiring more space.
What's the total cost of renting once you add in agency fees, maintenance, utilities, and other charges?
Total rental costs in Senegal typically exceed base rent by 15-30% when including all associated expenses and fees.
For a typical mid-tier two-bedroom apartment in Dakar with 400,000 XOF monthly rent, additional costs include water (15,000 XOF), electricity (35,000 XOF), security (20,000 XOF), maintenance (10,000 XOF), and internet (10,000-50,000 XOF). Combined waste collection, elevator, and garden charges add another 5,000-20,000 XOF monthly.
Agency fees represent significant one-time costs, typically requiring 1-2 months' rent for new lease arrangements. These fees cover property search, contract preparation, and initial tenant screening services provided by real estate agencies managing rental properties throughout major Senegalese cities.
Furnished and serviced apartments command higher additional costs due to included amenities, housekeeping services, and comprehensive utility packages. These properties appeal to short-term expat tenants and business travelers willing to pay premiums for convenience and reduced administrative burden.
Utility costs vary seasonally, with electricity expenses increasing during hot months when air conditioning usage peaks. Water costs remain relatively stable, while internet expenses depend on service level requirements, with basic packages starting around 10,000 XOF and premium business connections reaching 50,000 XOF monthly.
Are there taxes or government fees that landlords need to factor into the rental price?
Senegal's rental market involves moderate tax obligations that landlords typically incorporate into pricing structures.
Property transaction taxes primarily affect purchases rather than ongoing rentals, with buyers facing 16.75-20.5% of sale price in combined stamp duty, registry fees, notary costs, and agent commissions. These substantial upfront costs influence landlords' return calculations and long-term rental pricing strategies.
Rental-specific taxes remain limited for standard residential properties, with no direct rental tax imposed on tenants. However, VAT may apply to serviced or furnished rental arrangements, particularly those targeting business tenants or offering comprehensive service packages including utilities, cleaning, and maintenance.
Landlords must comply with VAT and electronic invoicing requirements for certain services, depending on rental arrangement types and annual revenue thresholds. Local taxes vary by municipality but remain moderate and primarily indirect, affecting property owners through municipal services and infrastructure assessments rather than direct rental income taxation.
Electronic invoicing requirements for larger rental operations reflect Senegal's modernizing tax administration, requiring landlords operating multiple properties or targeting commercial tenants to maintain proper documentation and reporting systems that may influence operational costs and rental pricing.
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If I finance the property with a mortgage, how do monthly costs compare to average rental income?
Mortgage financing in Senegal presents challenging economics compared to rental income potential, requiring substantial down payments for positive cash flow.
Current mortgage rates average 8.15% annually, which is lower than neighboring countries like Ghana and Nigeria but still represents significant financing costs. The mortgage-to-income ratio in Senegal reaches approximately 247%, compared to just 60% in countries like Cyprus, indicating that property ownership requires substantial financial commitment relative to local income levels.
Monthly mortgage payments typically exceed rental income unless buyers provide large down payments of 40-50% or more. This dynamic makes property ownership more expensive per month than renting for most buyers, limiting the investor pool to those with significant capital resources or strong international income sources.
Cash flow positive rental properties become achievable when investors can minimize mortgage amounts through substantial down payments. Properties in high-demand areas like central Dakar or tourist zones offer the best prospects for covering mortgage payments through rental income, particularly when targeting short-term or premium long-term tenants.
Investors considering mortgage financing should focus on properties with strong rental yields of 7-9% and factor in all carrying costs including maintenance, management, vacancy periods, and tax obligations when calculating potential returns against mortgage payments.
What's the difference in returns when renting short-term to expats or tourists versus long-term to locals?
Short-term rental strategies can generate up to 30% higher gross revenue compared to long-term arrangements, but involve significantly higher operational complexity and costs.
Short-term rentals targeting expats, tourists, and business travelers command premium nightly rates, particularly in tourist zones and premium locations. These arrangements benefit from seasonal demand spikes and the ability to adjust pricing based on market conditions, events, and occupancy levels. Tourist areas show strong performance with properties near beaches, cultural sites, and business districts achieving the highest returns.
However, short-term rentals require substantial additional investments in furnishing, regular cleaning, maintenance, supplies, insurance, and often professional management services. Marketing costs, booking platform fees, and higher utility usage from frequent turnovers significantly impact net returns. Vacancy periods between bookings can be substantial, particularly during low tourism seasons.
Long-term rentals to local families, students, and established expats offer more stable and predictable income streams with lower operational overhead. These arrangements typically involve annual contracts with consistent monthly payments, reduced maintenance frequency, and minimal marketing costs once tenants are established. Property wear and tear tends to be more predictable and manageable.
Optimal investment strategies often combine both approaches, using properties in tourist zones for short-term rentals during peak seasons while maintaining long-term arrangements in residential areas or during slower periods to ensure consistent income and occupancy.
Can you give concrete rental examples for a studio, a two-bedroom apartment, and a villa in Dakar?
| Property Type | Monthly Rent (XOF) | Typical Size (sqm) | Main Tenant Type | Key Features |
|---|---|---|---|---|
| Studio in Yoff | 174,000-225,000 | 30-35 | Singles, students, young professionals | Basic amenities, shared building facilities |
| 2-Bedroom Apartment in Almadies | 1,031,818 | 65-80 | Expats, families, companies | Modern construction, security, parking |
| Standard Villa | 600,000-1,200,000 | 200-300 | Expat families, local affluent | Private garden, multiple bedrooms |
| Premium Beachside Villa | 1,300,000-2,870,000 | 300-400 | Corporates, diplomats, affluent expats | Ocean view, pool, luxury finishes |
| Luxury Villa in Almadies | 2,000,000-2,870,000 | 350-500 | High-end corporates, ambassadors | Full amenities, staff quarters, premium location |
What kind of tenants usually rent in Senegal?
Senegal's rental market serves diverse tenant categories with distinct preferences and budget requirements.
Students represent a significant tenant segment, particularly for studios and small apartments in areas like Pikine, Yoff, and central Dakar. Student demand peaks during September-October as academic years begin, creating seasonal opportunities for landlords in university-adjacent areas. These tenants typically seek affordable, basic accommodations with good transportation links to educational institutions.
Families, both local and expat, prefer 2-3 bedroom apartments in established residential areas including Sacré-Coeur, Liberté, and Mermoz. These tenants value security, proximity to schools, shopping, and healthcare facilities, and typically maintain longer lease terms providing stable income for property owners.
Corporate tenants and expats working for international organizations, embassies, and multinational companies typically target larger apartments and villas in premium areas like Almadies, Ngor, and Fann. These tenants often work through agencies, demonstrate high willingness to pay for quality amenities, and require furnished or partially furnished properties with reliable utilities and security.
Short-term tenants including tourists and business travelers increasingly utilize platforms like Airbnb, particularly in coastal and business zones. This segment shows rising demand and willingness to pay premium rates for convenience, location, and amenities, though occupancy can be seasonal and variable.
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.
What's the current vacancy rate for rentals, and does it vary a lot by neighborhood or property type?
Vacancy rates across Senegal vary significantly by location and property type, reflecting diverse demand patterns and market conditions.
Dakar center maintains moderate vacancy rates estimated at 5-8%, with rapid market absorption due to consistent demand from businesses, embassies, and international organizations. The capital's economic activity and employment opportunities ensure steady tenant demand for quality properties in central locations with good infrastructure and transportation access.
Tourist and coastal zones including areas around Yenne and Saly show higher vacancy rates of 31-36% for short-term rental properties, primarily reflecting seasonal demand patterns and Airbnb-style accommodation fluctuations. These areas experience peak occupancy during tourist seasons but face significant vacancy during slower periods, requiring careful market timing and pricing strategies.
Small towns and suburban areas typically experience higher vacancy rates of 10-15%, heavily dependent on seasonal economic activity and tourism flow. These markets lack the consistent demand of urban centers and may experience extended vacancy periods, particularly for properties targeting specific demographic segments.
Property type significantly influences vacancy rates, with luxury villas and premium apartments in sought-after neighborhoods maintaining lower vacancy due to limited supply and specific target markets. Student housing shows seasonal vacancy patterns corresponding to academic calendars, while family-oriented apartments in residential areas typically maintain more stable occupancy throughout the year.
What are the rental yields today, and how do they compare to one year ago and five years ago?
Senegal's rental yields have shown consistent improvement over recent years, reflecting a strengthening property market and growing demand.
As of September 2025, rental yields range from 6.3% to 9.0% nationally, with higher returns concentrated in coastal and tourist areas where short-term rental demand drives premium pricing. These yields compare favorably to many developed markets and represent attractive returns for property investors seeking income-generating assets.
One year ago in 2024, yields ranged from 5.4% to 8.6%, indicating an improvement of approximately 0.7 to 1 percentage point year-over-year. This growth reflects increasing rental rates driven by economic development, tourism growth, and steady expat demand, particularly in Dakar and coastal regions.
Five years ago in 2020, yields averaged 4.0% to 6.5%, showing substantial improvement of approximately 2 percentage points over the five-year period. This strengthening trend corresponds with Senegal's economic development, infrastructure improvements, and growing recognition as a stable investment destination within West Africa.
The yield improvement trajectory reflects several factors including tourism sector growth, increased foreign investment, infrastructure development projects, and political stability that have enhanced Senegal's attractiveness to both tenants and property investors. Coastal areas and Dakar continue leading yield performance due to sustained demand from diverse tenant categories.
How do Senegal's rents and yields compare to similar African cities, and what's the forecast for one, five, and ten years ahead?
| City | City Center Price (US$/m²) | Rental Yield 2025 | Mortgage Rate (%) | Forecast Growth |
|---|---|---|---|---|
| Dakar, Senegal | 2,193 | 6.3-9.0% | 8.15% | +3-7%/year |
| Abidjan, Ivory Coast | 2,061 | 5.2-8.3% | 12.8% | +5-6%/year |
| Accra, Ghana | >2,500 | 4-7% | 15% | +5-7%/year |
| Lagos, Nigeria | 1,499 | 8-10% (STR) | >18% | Volatile |
| Nairobi, Kenya | ~2,100 | 6-7% | 14-16% | Steady |
Senegal demonstrates competitive positioning among West African markets with strong rental yields and relatively favorable financing conditions.
Short-term forecasts for 1-3 years predict continued rent and price growth of 3-7% annually, with yields remaining high due to sustained demand from expats, tourists, and corporate tenants. Infrastructure development projects and political stability support this positive outlook for the Senegalese property market.
Five-year projections suggest Dakar and tourist zones may appreciate by 25-35%, though yields may stabilize around 7-8% unless supply significantly outpaces demand. Growing middle class purchasing power and continued foreign investment should support property values while potentially moderating yield growth as capital appreciation occurs.
Ten-year forecasts anticipate Senegal's urban population surpassing 60%, creating sustained residential demand and continued infrastructure development boosting coastal property values. Yields likely remain strong as tourism growth and expat inflows continue, supported by regional economic development and Senegal's position as a stable, francophone business hub in West Africa.
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 rental market offers compelling opportunities for property investors seeking strong yields and steady demand growth.
With yields ranging from 6.3% to 9.0% and consistent appreciation trends, the market presents attractive returns compared to regional alternatives while benefiting from political stability and economic development.
Sources
- Exiap - Cost of Living in Senegal
- Loger Dakar - Apartment Rental Guide
- Numbeo - Senegal vs Cameroon Cost Comparison
- The AfricanVestor - Dakar Property Market
- CozyCozy - Dakar Villa Rentals
- The AfricanVestor - Dakar Price Forecasts
- PropertyStar - Senegal House Prices
- The AfricanVestor - Senegal Price Forecasts
- Global Property Guide - Senegal Buying Guide
- Global Property Guide - Senegal Rent Yields