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Libreville's rental market offers yields ranging from 5-7% for apartments and up to 10% for prime short-term rentals, with significant variations across neighborhoods and property types. The market is driven by expat demand, urban regeneration projects, and growing local professional class seeking modern housing.
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Libreville's rental yields average 5-7% for long-term apartment rentals and 4-6% for suburban houses, with top-performing short-term rentals achieving 7-10% yields in prime locations.
The strongest yields are found in Mont-Bouet (+5-7% growth) and luxury expat areas like Sablière, while properties in Owendo show weaker performance with -5% price trends.
| Property Type | Average Yield | Best Neighborhoods | Price Range (USD) |
|---|---|---|---|
| 1-Bedroom Apartments | 6-7% | Mont-Bouet, Sablière | $72,000 |
| 2-Bedroom Apartments | 5-6% | Glass, Quartier Louis | $102,000 |
| Suburban Houses | 4-6% | Angondjé, Akanda | $140,000-$200,000+ |
| Short-Term Rentals | 7-10% | City Center, Sablière | Varies by location |
| Commercial Properties | 8-10% | Prime office/retail | Premium pricing |
| Luxury Villas | 6-7% | Louis, Sablière | $200,000+ |
What are the main property types available in Libreville and how do their rental yields compare?
Apartments and condominiums dominate Libreville's rental market, representing approximately 77% of available properties.
These apartments typically deliver rental yields of 5-7% annually for long-term rentals. One-bedroom units averaging 60 square meters sell for around $72,000 and can generate yields in the higher 6-7% range when fully occupied. Two-bedroom apartments of approximately 85 square meters, priced at $102,000, typically yield 5-6% depending on location and tenant quality.
Houses comprise about 16% of the rental market and generally cater to families seeking more space. Suburban houses typically yield 4-6%, with larger properties in prime expat areas potentially reaching 7% when rented to diplomatic or corporate tenants. The lower yield range reflects higher purchase prices relative to rental income, but houses often provide more stable tenancy.
Luxury apartments and villas concentrated in expat districts like Sablière and Quartier Louis command premium rents but require substantial upfront investment. These properties, often featuring pools and security systems, can achieve 6-7% yields when targeting the expatriate market.
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Which neighborhoods or areas in Libreville show the strongest and weakest rental yields right now?
Mont-Bouet currently delivers the strongest rental yields with growth rates of 5-7% annually, driven by ongoing urban regeneration projects and improved infrastructure access.
Sablière ranks as the second-best performing area with 4-6% price growth, benefiting from its status as a preferred luxury market for expatriate professionals. The neighborhood's established infrastructure and proximity to international businesses make it consistently attractive to high-paying tenants.
Angondjé shows promising performance with 3-5% growth, emerging as an up-and-coming area attracting Libreville's growing professional class. Glass and Quartier Louis maintain steady performance at 2-4%+ growth, supported by diplomatic demand and established expat communities.
Owendo represents the weakest performing area with -5% price trends, reflecting challenges in the budget housing segment. The area suffers from limited infrastructure development and reduced demand from quality tenants, resulting in weaker rental yields compared to other districts.
City center properties average yields of 2.6-5%, hampered by high purchase prices relative to rental income potential. Suburban areas outside the main districts can deliver higher yields of 4.2-6% due to lower entry costs and more stable long-term rental demand.
How do yields differ depending on the property size or surface area?
Smaller apartments consistently outperform larger properties in terms of rental yield percentages, with one-bedroom units of 60 square meters delivering the highest returns at 6-7%.
Two-bedroom apartments of 85 square meters typically yield 5-6%, reflecting higher purchase prices that don't proportionally increase rental income. The yield compression occurs because larger apartments command higher absolute rents but not enough to offset their significantly higher purchase prices of $102,000 versus $72,000 for one-bedroom units.
Houses and larger apartments generally yield 4-6%, with the lower range reflecting their premium purchase prices. However, luxury homes in top zones like Sablière or Louis can approach or exceed 7% when successfully rented to expatriate tenants willing to pay premium rates for space and amenities.
The yield differential primarily stems from tenant demand patterns, where young professionals and small families dominate the rental market, creating stronger competition for smaller, more affordable units. Larger properties face a smaller pool of potential tenants, typically limited to expatriate families or affluent locals.
Property size also affects vacancy risk, with smaller units generally achieving faster tenant turnover and shorter vacancy periods compared to larger, more expensive properties that may remain vacant longer between tenancies.
What is the average purchase price including fees, taxes, and other transaction costs for these properties?
Property prices in Libreville average $1,200 per square meter as of September 2025, translating to $72,000 for a 60-square-meter one-bedroom apartment and $102,000 for an 85-square-meter two-bedroom unit.
| Property Type | Base Price (USD) | Transaction Costs (6-8%) | Total Investment |
|---|---|---|---|
| 1-Bedroom (60m²) | $72,000 | $4,320 - $5,760 | $76,320 - $77,760 |
| 2-Bedroom (85m²) | $102,000 | $6,120 - $8,160 | $108,120 - $110,160 |
| Luxury Apartment | $140,000 | $8,400 - $11,200 | $148,400 - $151,200 |
| Premium Villa | $200,000+ | $12,000 - $16,000+ | $212,000 - $216,000+ |
Transaction costs typically range from 6-8% of the purchase price, covering taxes, legal fees, agent commissions, and administrative expenses. Foreign buyers face additional bureaucratic requirements and must obtain special authorization plus a Gabonese tax number, potentially adding to overall costs.
Higher-end properties in Sablière or Quartier Louis command $140,000-$200,000+ for large apartments and villas, with luxury villas exceeding $200,000 depending on size and amenities. These premium properties often require additional costs for security systems, maintenance agreements, and property management services.
Legal due diligence costs typically add $1,000-$3,000 to the transaction, while currency exchange fees and international transfer costs can add another 1-2% for foreign buyers. Property inspection and valuation services generally cost $500-$1,500 depending on property complexity.
What are the typical running costs, taxes, and mortgage terms that landlords face?
Annual property taxes in Libreville remain relatively modest at 0.1-0.2% of property value, representing $144-$288 annually for a $144,000 property.
Routine maintenance costs typically consume 1-2% of property value annually, translating to $1,440-$2,880 per year for a $144,000 apartment. This covers regular upkeep, minor repairs, and preventive maintenance to preserve property condition and rental appeal.
Property insurance costs vary by coverage level and property type but generally range from $300-$800 annually for standard residential coverage. Landlords using professional property management services pay 10-15% of gross rental income, which provides tenant screening, rent collection, maintenance coordination, and vacancy management.
Mortgage financing remains challenging for foreign buyers, with interest rates ranging from 8-10% for 20-year fixed-rate loans. Local banks maintain strict qualification requirements, and foreign nationals rarely qualify for conventional financing, making cash purchases the norm for international investors.
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What are the differences in yields between short-term rentals and long-term rentals?
Short-term rentals significantly outperform long-term rentals when managed effectively, with top-performing Airbnb listings achieving 7-10% annual yields compared to 5-7% for traditional rentals.
The best short-term rental properties average $1,267-$1,985 monthly revenue with occupancy rates of 44-60% during peak seasons. However, the median short-term rental market performs much lower at approximately $715 monthly with only 24% occupancy, highlighting the importance of location and management quality.
Long-term rentals provide more predictable income streams with typical occupancy rates of 85% in prime areas and lower vacancy risk. A well-located one-bedroom apartment renting for $1,080 monthly generates $11,016 annually with minimal management overhead, representing a 6.5% yield on a $170,000 total investment.
Short-term rentals require active management, professional cleaning services, furniture and equipment maintenance, and constant marketing efforts. These operational costs can consume 25-35% of gross revenue, compared to 10-15% management fees for long-term rentals.
Seasonal demand significantly impacts short-term rental performance, with peak tourist seasons driving higher occupancy and rates, while off-peak periods may see occupancy drop below 20%. Long-term rentals maintain consistent monthly income regardless of seasonal fluctuations.
What are some concrete examples of current rental prices for different property types?
One-bedroom apartments in Libreville's city center command monthly rents of 650,000 CFA francs ($1,080), with a typical range of 500,000-800,000 CFA francs ($830-$1,330) depending on specific location and amenities.
| Property Type | City Center Rent (USD) | Outside Center Rent (USD) | Annual Income |
|---|---|---|---|
| 1-Bedroom Apartment | $1,080 ($830-$1,330) | $500 | $12,960 center |
| 3-Bedroom Apartment | $2,490 | $955 ($830-$1,080) | $29,880 center |
| Luxury 2-Bedroom | $1,800-$2,200 | $1,200-$1,500 | $21,600-$26,400 |
| Short-Term Median | $715 | Variable | $8,580 (24% occupancy) |
| Short-Term Top 10% | $1,985+ | Variable | $23,820+ (full occupancy) |
| Suburban House | N/A | $800-$1,200 | $9,600-$14,400 |
Three-bedroom apartments in central Libreville rent for approximately 1,500,000 CFA francs ($2,490) monthly, while similar properties outside the center command 575,000 CFA francs ($955) with a range of 500,000-650,000 CFA francs ($830-$1,080).
Top-performing short-term rentals achieve $1,985+ monthly during peak occupancy periods, while the median Airbnb listing generates approximately $715 monthly. The significant variation reflects differences in property quality, location, and management effectiveness.
Suburban houses typically rent for $800-$1,200 monthly, offering better value for families but generating lower absolute rental income compared to city center apartments. These properties often appeal to local professionals seeking more space at affordable rates.
Who are the typical renter profiles in Libreville and what are their preferences?
Expatriate professionals represent the most lucrative tenant segment, typically seeking luxury accommodations with security features in established neighborhoods like Sablière, Quartier Louis, and Akanda.
These expat tenants prefer 2-3 bedroom apartments or houses with modern amenities, reliable utilities, and proximity to international schools and business districts. They typically sign longer lease terms and pay premium rents, making them highly desirable for landlords despite representing a smaller market segment.
Business travelers and tourists increasingly utilize short-term rentals, favoring 1-2 bedroom condominiums in trending areas like Centreville and near Libreville Beach. This segment values convenient locations, modern furnishing, and reliable internet connectivity for work and leisure activities.
The growing local middle-class professional segment seeks affordable, modern apartments in regenerating districts like Mont-Bouet and Angondjé. These tenants typically prefer smaller units with contemporary finishes and reliable infrastructure, representing an expanding market as Gabon's economy diversifies.
Family renters, both local and expatriate, tend toward houses or larger apartments in suburban areas where they can access better value for money and proximity to schools. This segment prioritizes space, safety, and community amenities over central location convenience.
What are the current vacancy rates across property types and areas?
Prime expat and luxury rental properties maintain approximately 85% occupancy rates, translating to 15% vacancy rates in the strongest performing neighborhoods and property types.
These low vacancy rates occur in established expat areas like Sablière, Quartier Louis, and Glass, where consistent demand from diplomatic staff, international business professionals, and affluent locals maintains strong occupancy. Well-maintained properties in these areas rarely experience extended vacancy periods.
Non-prime and older inventory in secondary locations faces significantly higher vacancy rates potentially exceeding 20%. Properties in areas like Owendo and older suburban developments struggle with longer vacancy periods due to limited tenant demand and competition from newer developments.
Short-term rental vacancy varies dramatically by season and management quality, with peak season occupancy reaching 44-60% for top performers but dropping to 24% for median properties. Off-peak seasons can see occupancy rates fall below 20% for many short-term rental properties.
City center apartments experience moderate vacancy rates of 10-18% depending on pricing and condition, with newer properties achieving lower vacancy than older buildings requiring renovation. The variance reflects the diverse quality and pricing range within central Libreville's rental market.
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How have rents and yields changed compared to five years ago and compared to one year ago?
Over the past five years, prime residential properties in Libreville have appreciated 15-20%, though the market has plateaued since late 2023 with modest declines in mid-market segments.
Luxury and expat-targeted properties maintained value better than budget housing, with established neighborhoods like Sablière and Quartier Louis showing resilience due to consistent international demand. Budget and oversupplied areas have lost value or barely matched inflation rates during this period.
Commercial properties gained 4-7% annually in top zones over the five-year period, while secondary commercial locations experienced stagnation or decline. The commercial market's performance directly correlates with Gabon's economic diversification efforts and infrastructure development projects.
Compared to one year ago, rental prices and yields have remained largely stable with modest declines in mid-market properties. Luxury and expat demand segments kept those areas flat or slightly positive, while budget segments faced continued pressure from oversupply and economic uncertainty.
The one-year trend shows yield compression in high-demand areas as property prices increased faster than rental rates, while lower-demand areas experienced both price and rent stagnation. Overall market sentiment remains cautious due to broader economic challenges affecting tenant purchasing power.
What is the forecast for rental yields in one year, five years, and ten years?
One-year outlook suggests stable yields with slight downside risk, particularly for properties outside luxury and prime expat areas, as inflation pressures and sluggish economic growth impact tenant demand.
The near-term forecast indicates continued challenges for mid-market properties, while luxury and well-located apartments may maintain current yield levels due to sustained expatriate and diplomatic demand. New supply in secondary areas may further pressure yields in those locations.
Five-year projections depend heavily on continued infrastructure development and political stability, with modest growth likely generating 3-7% returns in stable areas. Success of urban regeneration projects in Mont-Bouet and Angondjé could create new high-performing zones, while established areas maintain steady performance.
Government infrastructure investments and potential economic diversification beyond oil dependency could support positive long-term trends. However, yield growth will likely remain modest due to limited population growth and economic constraints affecting demand expansion.
Ten-year forecasts carry high uncertainty given Gabon's volatile political and economic environment, though upside potential exists if reforms, urban regeneration, or external investment persist. Successful economic diversification could drive demand growth and yield improvement, while political instability represents significant downside risk for the entire market.
How does Libreville's rental yield compare with other major cities in the region with similar characteristics?
Libreville's rental yields of 5-7% for apartments position the city competitively within the Central African region, though below some West African markets offering higher returns.
Nigerian cities like Lagos and Abuja frequently deliver 8-11% yields for small residential units, outperforming Libreville due to larger populations, more diverse economies, and higher rental demand. However, Nigerian markets also carry significantly higher political and security risks affecting long-term investment stability.
Cameroon's major cities, Douala and Yaoundé, offer comparable yields of 4-7%, similar to Libreville's performance range. These markets share similar economic structures and challenges, making them reasonable comparison points for risk-adjusted returns in the region.
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Libreville's higher-end yields from short-term rentals and top commercial properties can compete with regional leaders when properly managed. The city's relative political stability and established expat community provide advantages over markets with higher yields but greater volatility.
Regional comparison favors Libreville for investors prioritizing stability over maximum returns, while those seeking higher yields may find better opportunities in larger, more dynamic markets despite increased risk exposure. Currency stability and ease of capital repatriation also influence comparative attractiveness for international investors.
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.
Libreville's rental market offers compelling opportunities for investors who understand the local dynamics and target the right property types and neighborhoods.
Success depends on focusing on expat-preferred areas, maintaining high property standards, and choosing between stable long-term yields or potentially higher but more management-intensive short-term rental strategies.
Sources
- The AfricanVestor - Libreville Price Forecasts
- The AfricanVestor - Gabon Real Estate Market
- The AfricanVestor - Gabon Price Forecasts
- Numbeo - Property Investment in Libreville
- The AfricanVestor - Libreville Property
- Global Property Guide - Africa Rent Yields
- AirROI - Libreville Report
- Global Property Guide - Gabon Rent Yields