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Student accommodation in Cameroon presents one of the most lucrative property investment opportunities in the country's real estate market.
With university enrollment tripling over the past two decades while housing supply has remained stagnant, investors are seeing rental yields of up to 12% in prime locations like Yaoundé and Douala. The structural undersupply creates consistent demand with occupancy rates exceeding 95%, making student housing significantly more profitable than traditional residential investments.
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Student accommodation in Cameroon offers exceptional investment returns with rental yields reaching 12% in Yaoundé and 10.3% in Douala.
The market shows consistent undersupply with occupancy rates above 95% and strong capital appreciation potential of 4-5% annually.
| Investment Factor | Performance | Key Details |
|---|---|---|
| Rental Yield | 5-12% | Higher than residential (7-9%) and commercial properties |
| Occupancy Rate | 95%+ | Virtually zero long-term vacancy with waiting lists |
| Capital Appreciation | 4-5% annually | Outperforms standard residential properties |
| Market Demand | Very High | Student numbers tripled in 20 years, supply stagnant |
| Best Locations | Yaoundé, Douala | Major university centers with highest demand |
| Management Costs | 8-15% | Higher than residential due to turnover |
| Investment Risk | Moderate | Political stability and infrastructure concerns |
What is the current demand for student accommodation in Cameroon?
Student accommodation demand in Cameroon is extremely high and continues to grow rapidly.
As of September 2025, university enrollment has tripled over the past two decades, while campus housing supply has remained almost stagnant. This creates a massive supply-demand imbalance that consistently drives up rental prices and occupancy rates.
The off-campus accommodation market consistently outpaces supply, leading to competitive bidding situations where students often secure housing months in advance. Major university cities like Yaoundé, Douala, Buea, and Ngaoundere all experience this structural undersupply.
Student housing is now viewed as the most resilient residential asset class in Cameroon due to its steady demand and exceptional occupancy rates. The market fundamentals remain extremely strong with no indication of demand softening.
Which cities in Cameroon have the highest student accommodation demand?
Four major cities dominate Cameroon's student accommodation market with exceptional demand levels.
Yaoundé leads the market as it hosts several major universities and experiences a catastrophic shortage of student housing, particularly in areas like Bonamoussadi and SOA. The capital city's established educational infrastructure creates the highest concentration of student demand.
Douala, as Cameroon's largest economic center, also experiences a surge in student housing demand near key institutions. The city's commercial importance attracts students from across the country, intensifying accommodation competition.
Buea faces similar undersupply challenges, with recent university partnerships seeking to build new halls, though projects have faced significant delays. The city's English-speaking educational institutions draw students from both domestic and regional markets.
Secondary markets including Ngaoundere, Bamenda, and Garoua also show high demand, but supply is even more limited with informal housing options being more common than in major cities.
What rental yields can investors expect from student accommodation?
Student accommodation in Cameroon delivers some of the highest rental yields in the country's real estate market.
In Douala, student accommodation properties near campuses achieve gross yields around 10.3%, significantly outperforming other residential investments. These returns reflect the premium students pay for quality housing near their institutions.
Yaoundé offers rental yields ranging from 5% to 12%, with the highest yields concentrated near major university precincts. Properties in prime student areas like Bonamoussadi consistently achieve the upper end of this range.
These yields substantially exceed standard residential properties, which typically deliver 7-9% returns in these same cities. Student accommodation also performs comparably or slightly better than commercial real estate yields in these regions.
It's something we develop in our Cameroon property pack.
How do student accommodation yields compare to other property investments?
Student accommodation consistently outperforms other real estate investment categories in Cameroon's major cities.
| Property Type | Average Yield Range | Risk Level |
|---|---|---|
| Student Accommodation | 10-12% | Low (95%+ occupancy) |
| Standard Residential | 7-9% | Medium (variable occupancy) |
| Commercial Properties | 8-10% | Medium-High (business cycle dependent) |
| Retail Spaces | 6-8% | High (economic volatility) |
| Office Buildings | 7-9% | Medium (corporate demand dependent) |
What occupancy rates do student accommodation properties achieve?
Student accommodation properties in Cameroon routinely achieve occupancy rates above 95%, making them among the most stable rental investments available.
Most quality on-campus and off-campus student housing maintains virtually zero long-term vacancy, with properties often booked months in advance. Students typically secure accommodation for entire academic years, providing predictable cash flow for investors.
The structural undersupply means properties maintain waiting lists throughout the academic year. Even during brief turnover periods between academic sessions, properties rarely remain vacant for more than a few weeks.
This exceptional occupancy performance significantly reduces investment risk compared to standard residential properties, which may experience seasonal vacancy periods or longer tenant searches.
What are typical rental prices for student accommodation across regions?
Rental prices for student accommodation vary significantly between major cities and regional centers, with premium locations commanding substantial premiums.
In Douala, one-bedroom apartments near universities rent for 517,000-521,000 CFA francs per month, reflecting the city's status as the economic capital and high student purchasing power.
Yaoundé shows more variation with shared rooms in campus zones around 480,000 CFA francs per year (approximately 40,000 CFA francs monthly), while private rooms near universities cost closer to 600,000 CFA francs annually (50,000 CFA francs monthly). Off-campus options in central areas average 456,000 CFA francs per month.
Regional cities like Garoua and Bamenda typically offer rental prices 30-50% lower than major centers, though they're still rising due to inadequate formal housing supply. These markets may offer entry-level investment opportunities with good growth potential.
It's something we develop in our Cameroon property pack.
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What types of student housing are most profitable?
Off-campus private studios and apartments near universities generate the highest returns for investors in Cameroon's student accommodation market.
1. **Purpose-built student accommodation (PBSA)** - Emerging as the most stable and high-return sector, offering institutional-quality returns with professional management 2. **Off-campus private studios/apartments** - Most profitable for individual investors due to high, predictable demand and premium rental rates 3. **Shared housing complexes** - Good returns in smaller cities with lower entry costs but requiring more active management 4. **Converted residential properties** - Cost-effective entry point but may require significant renovation to meet student needs 5. **Hostel-style accommodations** - Common in regional cities with lower margins but consistent demandProfitability reaches its peak for investors who can secure land and develop purpose-built facilities near university clusters in Douala and Yaoundé. These properties command premium rents while maintaining the highest occupancy rates.
What regulatory requirements apply to student accommodation ownership?
Student accommodation investors in Cameroon must comply with comprehensive regulatory requirements covering property registration, building standards, and tenant rights.
All landlords must register their properties with local authorities and comply with national building codes, including minimum habitability standards for student housing. Regular inspections may be required to maintain rental licenses.
Student accommodation is subject to specific zoning regulations, with shared housing units requiring additional health and safety compliance measures. Fire safety, electrical systems, and sanitation facilities must meet enhanced standards for multi-occupancy buildings.
Foreign investors can legally purchase and own student housing properties in Cameroon, but should verify land titles and property registration practices carefully. Informal arrangements carry significant risks and should be avoided for serious investments.
Tenant rights legislation applies to student housing, including proper rent notification procedures and dispute resolution mechanisms. Landlords must provide formal rental agreements and maintain property condition standards throughout tenancy periods.
What is the capital appreciation potential over the next 5-10 years?
Student accommodation properties in Cameroon show strong capital appreciation potential with projections indicating continued 4-5% annual growth in residential real estate values.
Student accommodation is expected to outperform standard residential properties due to ongoing urbanization trends, persistent supply shortages, and expanding higher education enrollment. The government's commitment to educational development supports long-term demand growth.
Premium locations near major universities have historically appreciated faster than standard residential or commercial properties, with some prime areas seeing appreciation rates of 6-7% annually.
The structural undersupply situation is unlikely to resolve quickly, as new construction lags far behind enrollment growth. This supply constraint should continue supporting both rental growth and capital appreciation over the medium term.
Infrastructure improvements planned for major university cities should further enhance property values, particularly for well-located student accommodation properties with good transport connections.
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.
What are the main investment risks?
Student accommodation investments in Cameroon face several key risks that investors should carefully evaluate before committing capital.
Political instability, particularly in Anglophone regions like Buea, creates uncertainty around university operations and student enrollment. Regional conflicts can disrupt academic calendars and reduce demand for accommodation.
Changes in university enrollment policies or institutional closures represent significant demand risks. Over-reliance on a single educational institution can create vulnerability if that institution faces operational challenges.
Infrastructure development delays, including utilities connections and transport links, can impact property values and rental potential. Weak enforcement of tenancy rights and property laws adds complexity to landlord-tenant relationships.
Informal property management practices and unclear land titles can severely impact investment returns and property liquidity. Due diligence on legal ownership and registration is essential before investing.
How do management costs affect profitability?
Property management and maintenance costs for student accommodation are higher than standard residential properties but are offset by premium rental rates.
Professional property management firms typically charge 8-15% of annual rental income for student housing, reflecting the additional complexity of managing high-turnover, multi-occupancy properties.
Maintenance costs run higher than standard apartments due to frequent tenant turnover and increased wear-and-tear from student lifestyles. Common areas require more frequent cleaning and repairs, while furniture and fixtures need regular replacement.
Despite higher operating costs, the premium rents charged for student accommodation and exceptional occupancy rates typically result in superior net yields compared to standard residential investments.
Investors can optimize profitability by selecting durable finishes, implementing preventive maintenance programs, and establishing clear tenant responsibilities for property care.
It's something we develop in our Cameroon property pack.
Are there government incentives for student housing investments?
Cameroon has announced social housing initiatives and university-private partnerships aimed at increasing student accommodation capacity, though direct investor incentives remain limited.
The government has expressed growing interest in public-private partnerships to address the student housing shortage, which could create opportunities for developers and investors in coming years.
Some university partnerships offer land lease arrangements or development rights that can provide cost advantages for student housing projects, particularly for larger-scale developments.
Tax incentives for educational infrastructure development may apply to some student housing projects, though specific benefits vary by region and project scale.
Implementation of government support programs remains slow, but the recognition of student housing as a critical infrastructure need suggests future policy support may strengthen investor incentives.
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.
Student accommodation represents one of Cameroon's most attractive property investment opportunities, delivering exceptional rental yields of 10-12% combined with occupancy rates exceeding 95%.
The structural undersupply situation, driven by rapidly growing university enrollment and stagnant housing construction, creates a compelling investment environment with strong capital appreciation potential of 4-5% annually through 2030.
Sources
- University World News - Cameroon Student Housing
- Gnosi Journal - Housing Challenges
- Property Wheel - Student Housing Asset Class
- 6W Research - Cameroon Student Accommodation Market
- Research Guru - Student Population Growth Effects
- Bonard - Student Housing Annual Report
- The AfricanVestor - Yaoundé Rental Yields
- The AfricanVestor - Cameroon Rental Yields