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Nouakchott's rental yields vary significantly across property types and neighborhoods, with apartments outside the city center offering the strongest returns at 3.19% gross yield.
As of September 2025, the Nouakchott rental market shows modest but steady performance, particularly in emerging neighborhoods like Tevragh-Zeina and coastal areas where expatriate demand drives higher rental prices and appreciation rates.
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Nouakchott's rental yields range from 1.76% for city center apartments to 3.19% for properties outside the center, with commercial spaces offering the highest returns at 3.5-5%.
Premium neighborhoods like Tevragh-Zeina and coastal areas provide better investment opportunities, though high mortgage rates of 16.5% significantly impact leveraged investments.
| Property Type | Location | Gross Rental Yield |
|---|---|---|
| Apartments | City Center | 1.76% |
| Apartments | Outside Center | 3.19% |
| Luxury Apartments | Prime Central/Coastal | Up to 4.5% |
| Villas | Tevragh-Zeina | 3-4% (6-8% appreciation) |
| Commercial Spaces | City Center | 3.5-5% |
| Short-term Rentals | Central/Coastal | $182-$598/month revenue |
| Long-term Rentals | Various | More stable, lower volatility |
What are the current rental yields in Nouakchott by property type?
Nouakchott's rental market shows clear variations across different property categories as of September 2025.
Apartments in the city center deliver an average gross rental yield of 1.76%, while properties located outside the center perform significantly better at 3.19%. Luxury apartments in prime central and coastal districts can achieve yields up to 4.5%, particularly those targeting expatriate tenants.
Premium villas in upscale neighborhoods like Tevragh-Zeina offer similar yields to apartments but with added benefit of 6-8% annual appreciation. These properties attract high-income expatriates and diplomatic staff, creating steady demand.
Commercial spaces provide the strongest yields in Nouakchott's rental market, typically ranging from 3.5% to 5%. Properties near embassies, government buildings, and industrial clusters command the highest returns due to consistent business demand.
The yield differences reflect Nouakchott's development pattern, where newer suburban areas offer better value propositions than the established but expensive city center.
Which neighborhoods offer the strongest rental returns for investors?
Tevragh-Zeina stands out as Nouakchott's premier investment district, combining high rental demand with strong capital appreciation potential.
This upscale neighborhood benefits from proximity to business centers, modern infrastructure, and appeal to expatriate professionals. Properties here typically achieve yields at the higher end of the market range while maintaining low vacancy rates.
Ksar district offers compelling opportunities due to its historic significance and ongoing infrastructure upgrades. The area attracts middle-class families and young professionals, creating stable rental demand with moderate yields.
Nouakchott Nord and Plage de Nouakchott represent emerging hotspots for luxury developments. Coastal properties particularly appeal to expatriates and high-income professionals, though these areas require higher initial investment.
Arafat provides a balanced investment option with its vibrant mix of commercial and residential properties, attracting both families and businesses seeking affordable yet well-connected locations.
How do yields vary based on property size and surface area?
Property size significantly impacts rental yields in Nouakchott's market, with smaller units generally outperforming larger properties on a percentage basis.
One-bedroom apartments produce the highest yields, particularly outside the city center where they can achieve 3%+ returns. These units benefit from strong demand from young professionals and their affordable rental prices relative to purchase costs.
Larger apartments with three or more bedrooms attract families and expatriates who can afford higher monthly rents, but their higher purchase prices often result in similar or slightly lower percentage yields. However, these properties typically experience lower vacancy periods due to longer tenant commitments.
Commercial spaces follow a different pattern where yields depend more on location and tenant profile than size. Small, flexible office spaces near government and business districts typically achieve the highest yields due to their versatility and strong demand.
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What are typical property purchase prices including all costs?
| Property Type | Price per sqm (MRU) | Price per sqm (USD) |
|---|---|---|
| City Center Apartment | 135,647 MRU | $3,427 |
| Outside Center Apartment | 45,807 MRU | $1,157 |
| Premium Villa (Tevragh-Zeina) | - | ~$200,000 total |
| Studio Apartment (Arafat) | - | ~$50,000 total |
| 3-bedroom Apartment (Center) | - | Based on sqm rate |
| Commercial Space (Center) | Variable | Premium pricing |
| Coastal Luxury Property | Premium rates | $4,000+ per sqm |
How do financing terms affect net investment yields?
Mauritania's high mortgage rates create significant challenges for leveraged property investments in Nouakchott.
The average fixed-rate mortgage currently stands at 16.5% per year, which dramatically impacts net yields for financed purchases. This rate often exceeds potential rental income, making leveraged investments extremely risky for most properties.
The loan affordability index sits at an extremely low 0.39, while mortgage payments typically represent 256% of average income. These metrics indicate that most property purchases require substantial cash deposits or full cash payments to achieve positive returns.
Investors using financing must carefully calculate whether rental income can cover mortgage payments, property taxes, and maintenance costs. In most cases, significant down payments of 50% or more are necessary to achieve positive cash flow.
Cash purchases become more attractive in this environment, as they eliminate financing costs and allow investors to capture the full rental yield potential.
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What ongoing costs should investors factor into their calculations?
Property ownership in Nouakchott involves several recurring expenses that significantly impact net rental yields.
Maintenance costs typically range from 0.5% to 2% of property value annually, depending on the building's age, type, and condition. Newer properties in premium developments generally require lower maintenance spending initially.
Professional property management services charge between 8% and 12% of rental income, which becomes essential for investors managing multiple properties or living abroad. These services handle tenant relations, rent collection, and basic maintenance coordination.
Local property tax amounts to approximately 0.5% to 2% of property value annually, representing a significant ongoing expense that varies by municipality and property assessment.
Utility costs depend on rental arrangements, with landlords typically covering basic services for furnished short-term rentals while tenants handle utilities for long-term leases. Insurance, legal compliance, and periodic renovations add additional costs that investors must budget for long-term success.
How do short-term versus long-term rental strategies compare?
Nouakchott's rental market offers distinct opportunities for both short-term and traditional long-term rental strategies.
Short-term rentals through platforms like Airbnb show higher income potential but with significant volatility. Average occupancy rates range from 15% to 22%, with daily rates averaging $46. Top-performing properties can generate $450 to $598 monthly, while median properties earn around $182 to $450.
Seasonal variations heavily impact short-term rental performance, with peak periods coinciding with business travel and international conferences. Central and coastal zones, particularly Plage de Nouakchott and Tevragh-Zeina, outperform other areas for vacation rentals.
Long-term rentals provide more predictable income streams with lower management intensity. Monthly rents for one-bedroom city center apartments average 9,023 MRU ($228), while three-bedroom units command 23,883 MRU ($603).
Long-term tenants typically sign annual leases, reducing vacancy periods and marketing costs, though rental increases may be limited by local market conditions and tenant protection regulations.
What are typical monthly rental prices across different property types?
Nouakchott's rental prices reflect the city's economic structure and expatriate presence across various property categories.
One-bedroom apartments in the city center rent for approximately 9,023 MRU ($228) monthly, while similar units outside the center command 6,477 MRU ($160). This price difference reflects transportation costs and proximity to employment centers.
Three-bedroom apartments show more dramatic price variations, with city center units renting for 23,883 MRU ($603) compared to 12,535 MRU ($320) in outer areas. These larger units primarily serve expatriate families and upper-income local households.
Premium villas in neighborhoods like Tevragh-Zeina command significantly higher rents, often exceeding $1,000 monthly for furnished properties with modern amenities. These properties target diplomatic staff, mining executives, and international development workers.
Studio apartments in developing areas like Arafat and Riyadh offer entry-level investment opportunities with purchase prices around $50,000, though specific rental data varies based on location and condition.
What tenant profiles dominate Nouakchott's rental market?
Nouakchott's rental market serves diverse tenant categories, each with distinct characteristics and stability profiles.
Middle-class Mauritanian families represent the largest tenant segment, typically seeking two to three-bedroom apartments in established neighborhoods. These tenants often sign longer leases but may face income volatility due to economic fluctuations.
Young professionals, particularly those working in government, banking, and telecommunications, create steady demand for one-bedroom apartments and studios. This demographic shows good payment reliability but may relocate for career opportunities.
Expatriate workers form a crucial high-value segment, including diplomatic staff, mining industry professionals, and NGO workers. These tenants typically pay higher rents, prefer furnished properties, and maintain stable employment, though their stays may be limited by contract durations.
Short-term international contractors and business travelers contribute to the vacation rental market, particularly during peak business seasons and international conferences held in the capital.
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What are current vacancy rates across different property types and areas?
Nouakchott's rental market shows moderate vacancy rates that vary significantly by property type and location.
The average residential occupancy rate reaches approximately 75%, indicating a vacancy rate of about 25% across the city. City center and premium districts typically experience lower vacancy rates due to higher demand from expatriates and professionals.
Short-term rental properties face higher vacancy challenges, with median occupancy rates of only 15%. However, top-performing properties can achieve occupancy rates up to 49%, demonstrating the importance of location, amenities, and management quality.
Seasonal factors heavily influence vacation rental vacancy, with business travel peaks during government sessions and international conferences providing temporary demand boosts. Properties in coastal areas experience more pronounced seasonal variations.
Long-term rental properties in established neighborhoods like Ksar and Arafat typically maintain lower vacancy rates due to stable local demand, while newer developments may face higher initial vacancy periods as they establish market presence.
How have rental prices and yields changed over recent years?
Nouakchott's property market has experienced steady but modest growth over both short and medium-term periods.
Property prices increased by 5% in the past year, with urban resale values showing stronger performance at 8% growth. This recent acceleration reflects increased urbanization and improved economic conditions following mining sector expansion.
Over the past five years, property prices have grown at an annual rate of 5% to 8%, with nominal house prices increasing approximately 41% over the decade. This consistent appreciation has helped offset modest rental yields for long-term investors.
Rental yields have remained relatively stable in the 0.8% to 3.5% range, though prime zones have shown gradual improvement as demand from expatriates and professionals has increased. The yield stability reflects the balance between rising property values and proportional rental growth.
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What are the forecasts for rental yields in coming years?
Nouakchott's rental market outlook shows moderate optimism based on urbanization trends and economic development projections.
Over the next year, yields are expected to remain stable with property price growth of 2% to 4%. The modest growth reflects continued but measured economic expansion and steady demand from both local and international tenants.
Five-year projections show more significant potential, with urbanization, economic expansion, and continued mining sector growth likely to improve yields, particularly in premium areas. Infrastructure development and increased foreign investment could boost demand for quality rental properties.
Ten-year forecasts are particularly promising, with urbanization projected to reach nearly 69% by 2043. This demographic shift will create substantial housing demand and potentially drive yield improvements across the market.
Compared to other major African cities, Nouakchott currently offers lower yields than Dakar, Senegal, or Casablanca, Morocco, but shows higher growth potential in select districts due to rapid urbanization and mining industry development.
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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.
Nouakchott's rental market offers modest but steady yields, with the best opportunities concentrated in emerging neighborhoods and commercial properties.
Success requires careful location selection, understanding of local tenant demographics, and realistic expectations about financing costs and ongoing expenses in this developing market.
Sources
- The African Vestor - Mauritania Price Forecasts
- Numbeo - Property Investment in Nouakchott
- Real Estate Market Cap - Location 94
- The African Vestor - Nouakchott Price Forecasts
- The African Vestor - Mauritania Which Area
- The African Vestor - Moving to Mauritania Buy Property
- AirROI - Nouakchott Report
- The African Vestor - Nouakchott Property
- JICA Open Report
- The African Vestor - Mauritania Real Estate Market