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Cameroon's property market, particularly in Douala and Yaoundé, has experienced significant price growth over the past five years.
With residential properties in Douala city center averaging $1,890 per square meter and a housing deficit exceeding 2.5 million units, the market shows strong demand dynamics despite concerns about potential overvaluation.
If you want to go deeper, you can check our pack of documents related to the real estate market in Cameroon, based on reliable facts and data, not opinions or rumors.
Cameroon's property market shows mixed signals with consistent price growth but underlying structural challenges.
While demand significantly outstrips supply with a 2.5 million unit deficit, high mortgage rates and limited financing options create affordability barriers.
| Market Indicator | Current Status | Assessment |
|---|---|---|
| Average Price (Douala Center) | $1,890/m² | High but justified by demand |
| Housing Deficit | 2.5+ million units | Severe supply shortage |
| Mortgage Rates | 19-25% (Douala) | Restrictive financing |
| Rental Yields | 10-13% (Douala) | Attractive returns |
| Foreign Investment Growth | 12% annually | Strong investor confidence |
| Vacancy Rates | Below 20% | Healthy occupancy |
| Market Growth Forecast | 4.99% annually | Steady appreciation |
What are the current property prices per square meter in Douala and Yaoundé?
As of September 2025, residential property prices in Cameroon's major cities show significant variation between city centers and suburban areas.
In Douala, the economic capital, residential properties in the city center average $1,890 per square meter (approximately 1,100,000 CFA francs). Suburban properties in Douala are considerably more affordable at $920 per square meter (about 520,000 CFA francs). Commercial real estate in prime Douala locations commands prices above $1,800 per square meter.
Yaoundé, the political capital, shows similar pricing patterns with city center residential properties averaging 1,100,000 CFA francs per square meter. Suburban areas in Yaoundé are priced at 412,000 CFA francs per square meter, making them more affordable than comparable areas in Douala.
These prices reflect the strong demand in both cities, with Douala maintaining a premium due to its position as the country's commercial hub and main port city.
Have property prices increased consistently over the past five years?
Cameroon's property market has experienced consistent growth over the past five years, particularly in Douala and Yaoundé.
Both cities have shown steady year-over-year price increases, especially in prime and centrally located neighborhoods. This growth has been driven by rapid urbanization and a significant housing deficit that continues to push demand beyond available supply. The most notable increases have occurred in demand-heavy areas where infrastructure development and commercial activity concentrate.
The growth pattern has been particularly pronounced in city centers and well-connected suburban areas. Properties near major infrastructure projects, business districts, and transportation hubs have seen the most substantial appreciation. This consistent upward trend reflects underlying economic fundamentals rather than speculative bubble activity.
It's something we develop in our Cameroon property pack.
How does current real estate demand compare to supply in Cameroon?
Cameroon faces an acute housing shortage with demand significantly outstripping supply across all market segments.
The country currently has a housing deficit exceeding 2.5 million units, indicating extremely high demand relative to available supply. This shortage is most pronounced in affordable and mid-segment housing categories, where the gap between what people need and what's available continues to widen. The deficit affects both urban and rural areas, but urban centers like Douala and Yaoundé experience the most severe pressure.
This supply-demand imbalance creates a seller's market where property owners have significant pricing power. The shortage particularly impacts first-time buyers and middle-income families who struggle to find suitable housing within their budget range. New construction has not kept pace with population growth and urbanization trends.
The high demand relative to supply provides strong fundamental support for property values and suggests limited risk of significant price corrections in the near term.
What are the current vacancy rates for properties in Cameroon?
Vacancy rates in Cameroon's property market remain relatively low, reflecting strong underlying demand.
| Property Type | Location | Vacancy Rate |
|---|---|---|
| Prime Residential | City Centers | 10-15% |
| Prime Commercial | Business Districts | 10-15% |
| Standard Residential | Suburban Areas | 15-20% |
| Older Properties | Various Locations | Below 20% |
| High-Performance Assets | Prime Locations | Below 10% |
Prime residential and commercial properties maintain occupancy rates exceeding 85-90%, indicating healthy demand and effective property management. Older or less strategically located properties may experience higher vacancies but generally remain below 20%, which is considered acceptable in most markets.
The low vacancy rates support rental yields and provide confidence for property investors. However, properties in less desirable locations or those lacking modern amenities may struggle with higher vacancy rates.
How does Cameroon's property market compare to other African countries?
Cameroon's property market occupies a middle position among African real estate markets in terms of pricing and growth rates.
Property prices in Douala and Yaoundé are approaching levels seen in other leading West and Central African cities but remain below premium African markets such as Casablanca, Cape Town, or Nairobi's high-end segments. The forecasted growth rate of 4.99% annually for 2025-2029 places Cameroon near the continental average for property appreciation.
Certain East African markets like Nairobi and Kigali show slightly higher growth rates, but often from a lower price base. Cameroon's market stability and relatively lower political risk compared to some regional neighbors make it attractive for long-term investors. The country's infrastructure development and economic diversification efforts support sustained property market growth.
Compared to Nigeria's volatile market or Ghana's higher entry costs, Cameroon offers a more stable investment environment with reasonable entry points for both local and foreign investors.
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What financing options are available for property buyers?
Property financing in Cameroon remains challenging with limited mortgage accessibility and high interest rates.
Mortgage interest rates vary significantly between cities, with Douala experiencing rates of 19-25% as of 2024, while Yaoundé offers more competitive rates as low as 6% for select qualified buyers. These high rates make property purchases difficult for many potential buyers and limit market accessibility.
Banking requirements remain strict with high down payment demands, typically requiring 30-50% of the property value upfront. The mortgage market remains relatively underdeveloped compared to more established African markets. Most banks require substantial income verification, collateral, and lengthy approval processes that can take several months.
Recent years have shown little improvement in overall mortgage accessibility, with banks maintaining conservative lending practices. Cash purchases remain common, particularly for higher-value properties, while many buyers rely on family financing or gradual savings accumulation.
What role does foreign investment play in Cameroon's property market?
Foreign investment has become increasingly important in Cameroon's property market, showing strong growth momentum.
Foreign Direct Investment (FDI) in Cameroon's real estate sector has grown by 12% annually since 2020, with particular focus on commercial projects and luxury developments in Douala and Yaoundé. This growth reflects increasing confidence in the market's long-term prospects and the country's relative stability within the Central African region.
Changes over the last 2-3 years include growing investor confidence due to relative political stability and significant new infrastructure projects that enhance property values. Foreign investors particularly target commercial real estate, high-end residential developments, and properties near major infrastructure improvements such as ports, airports, and highway projects.
The government's efforts to improve business climate and streamline investment procedures have made the market more attractive to international investors. However, foreign investors still face challenges related to land title clarity and bureaucratic processes.
It's something we develop in our Cameroon property pack.
How does infrastructure development affect property prices?
Infrastructure development serves as a major driver of property price appreciation across Cameroon's regions.
Major road, port, and airport upgrades in Douala, Yaoundé, and other regional hubs have significantly increased property values in adjacent neighborhoods. These infrastructure improvements contribute to urban sprawl and create new property hotspots that attract both residential and commercial development. Properties located near new or improved infrastructure typically see price increases of 15-30% within two years of project completion.
The expansion of the Douala port, highway improvements connecting major cities, and airport modernization projects have created ripple effects throughout surrounding property markets. New infrastructure reduces travel times, improves accessibility, and attracts businesses, all of which boost property demand and values.
Infrastructure growth is particularly important in creating new property investment opportunities and raising entry prices for investors who delay their purchases. Areas designated for future infrastructure development often see speculative buying that drives up land prices before construction begins.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Cameroon 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.
How do inflation and currency fluctuations impact property prices?
Inflation and currency volatility significantly influence Cameroon's property market dynamics, though real estate has generally served as an effective hedge.
The CFA franc's fluctuations periodically cause property price volatility, particularly affecting properties priced in foreign currencies or targeting international buyers. During periods of high inflation, property values have generally maintained purchasing power better than local currency savings accounts or bonds. This makes real estate attractive as a store of value during inflationary periods.
Long-term upward momentum in real estate values has remained steady despite short-term currency and inflation challenges. Properties in prime locations and those generating rental income in stable currencies tend to be less affected by monetary instability. However, construction costs increase during inflationary periods, which can slow new supply and further support existing property values.
Property investors often benefit from the asset's tangible nature during uncertain economic periods, though financing costs may increase when central banks raise interest rates to combat inflation.
What returns can property investors expect in Cameroon?
Property investment returns in Cameroon vary significantly by location and property type, with generally attractive yields compared to other African markets.
1. **Douala rental yields**: City center properties generate approximately 10-13% gross rental yields, with higher returns available in lower-cost suburban areas where yields can reach 15% or more. 2. **Yaoundé rental yields**: City center properties typically yield 4-5%, considerably lower than Douala, while prime luxury segments may yield even less due to higher acquisition costs. 3. **Capital appreciation**: Properties have shown consistent annual appreciation of 3-7% in prime locations, providing additional returns beyond rental income. 4. **Total returns**: Combining rental yields and capital appreciation, well-selected properties can generate total returns of 12-20% annually. 5. **Market segment performance**: Mid-market and entry-level residential investments continue to offer the most attractive risk-adjusted returns, though input costs are rising.Return on investment remains particularly attractive for mid-market residential properties, though investors must account for rising construction and maintenance costs that may impact future profitability.
What are the main risks affecting Cameroon's property market?
Several significant risks could impact property investment returns and market stability in Cameroon.
Political instability remains a primary concern, with possible policy changes that could affect property ownership rights, taxation, or foreign investment rules. The legal system's slow processing times and occasional land title disputes create additional risks for property buyers, particularly in areas where land ownership history is unclear.
Natural disaster risk is generally low across most of Cameroon, but some regions face periodic flooding or environmental challenges that can affect property values. The informal housing sector's prevalence and lack of transparency in some transactions create market inefficiencies and potential legal complications.
Currency risk affects properties purchased by foreign investors or those seeking to repatriate returns. Infrastructure development delays can impact expected property appreciation in areas dependent on promised improvements. Market liquidity remains limited, making quick property sales difficult during market downturns.
It's something we develop in our Cameroon property pack.
How do taxes and regulations impact property affordability?
Property taxes and regulatory factors significantly affect real estate affordability and total ownership costs in Cameroon.
New land survey and registration fees have increased overall transaction costs, making property purchases more expensive for buyers across all market segments. These additional costs can add 5-10% to the total purchase price, affecting affordability for middle-income buyers. Property taxes are currently moderate compared to other African countries, but ongoing reforms could alter total cost of ownership in coming years.
Transaction costs including legal fees, registration fees, and various government charges typically add 8-15% to property purchase prices. The complexity of the registration process and potential for bureaucratic delays can increase costs further through extended legal and administrative fees.
Regulatory uncertainty around future tax changes creates additional investment risk, as government fiscal pressures may lead to higher property taxes or new fees on real estate transactions. Foreign investors face additional regulatory complexity that may require specialized legal assistance.
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.
Cameroon's property market shows characteristics of healthy growth rather than a dangerous bubble.
While prices have increased consistently, they reflect genuine supply-demand imbalances and economic fundamentals rather than speculative excess.
Sources
- The African Investor - Average Price per SQM Douala
- The African Investor - Average Property Price Cameroon
- Simtrade - Cameroonian Real Estate Market
- The African Investor - Average Price per SQM Yaoundé
- Property Wheel - Africa Real Estate Report 2024
- Statista - Cameroon Residential Real Estate Outlook
- Numbeo - Property Investment in Douala
- Numbeo - Property Investment in Yaoundé
- Business in Cameroon - New Finance Law Land Survey Fees
- Versus - Bamako vs Douala Comparison