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Yes, the analysis of Dakar's property market is included in our pack
Thinking about buying a 3-bedroom apartment in Almadies? It’s a great area, but you're probably wondering: is now the right time to buy, or should you wait for prices to drop?
And what about long-term investment—should you look into other neighborhoods like Mermoz or Point E where property values might appreciate more over time?
In this article, we’ll answer these questions. We know this market quite well - and we have put all our knowledge in the Dakar Property Pack.
Will property prices increase in Dakar in 2025?
Yes, property prices in Dakar are expected to rise in 2025, driven by a combination of high demand and a limited supply of housing.
Backed by our fresh, in-depth market analysis, we’re confident that Dakar remains one of the most attractive cities in West Africa for both domestic and international investors.
While there are some economic challenges like inflation and rising interest rates, the main drivers behind Dakar’s price growth remain strong.
Demand, especially in the prime central areas, continues to outstrip supply, making any major price dips unlikely. Additionally, Dakar's status as a cultural and economic hub in the region keeps attracting buyers from across the globe.
Signals pointing to a property price increase in Dakar
Here are some factors suggesting prices could increase:
The ongoing urbanization and population growth in Dakar are expected to continue in 2025, leading to increased demand for housing. This demographic trend is likely to push property prices upward as more people seek accommodation in the city.
Dakar is experiencing significant infrastructure development, including road expansions and public transport improvements, which are expected to enhance connectivity and accessibility. These developments are likely to increase property values, particularly in areas benefiting from improved infrastructure.
The government’s focus on attracting foreign investment and promoting economic growth is expected to boost the real estate market. As more international businesses establish a presence in Dakar, the demand for commercial and residential properties is likely to rise.
The limited availability of land for new developments in central Dakar is expected to constrain supply, leading to increased competition for existing properties. This scarcity is likely to drive up property prices, especially in desirable neighborhoods.
Dakar's growing reputation as a cultural and educational center in West Africa is attracting students and professionals, increasing demand for rental properties. This trend is expected to support property price growth as investors seek to capitalize on rental income opportunities.
The rise of the middle class in Senegal is expected to continue, leading to increased purchasing power and demand for quality housing. This socioeconomic shift is likely to contribute to rising property prices in Dakar.
The tourism sector in Dakar is expanding, with more visitors drawn to the city’s attractions and events. This growth is expected to boost demand for short-term rental properties, further supporting property price increases.
Signals pointing to a property price decrease in Dakar
Here are some factors suggesting prices could fall:
Economic instability and inflationary pressures in Senegal could impact consumer confidence and purchasing power, potentially reducing demand for property purchases.
Rising interest rates may make it more difficult for potential buyers to secure affordable financing, which could dampen demand for property acquisitions.
If there is an oversupply of new developments in certain areas, it could lead to a temporary decrease in property prices as developers compete to attract buyers.
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If property prices go up in Dakar, how much would they increase by?
If real estate prices in Dakar were to rise in 2025, the increase would likely be around 3% to 7% of their 2024 values.
Typically, real estate in emerging markets like Dakar appreciates by approximately 3% to 7% annually over the long term. However, fluctuations can occur depending on factors such as region, season, and property type.
It means that, if you spot a charming 2-bedroom apartment in Almadies for 150,000,000 CFA today, don't be surprised if it's priced between 154,500,000 and 160,500,000 CFA this time next year.
To give you a better understanding, here is a table that shows 7 types of Dakar real estate properties, their estimated prices in 2024, and projections for 2025 based on potential price increases of 3%, 5%, and 7%.
| Type of Property | Average Price in 2024 (CFA) | Price in 2025 (3% increase) | Price in 2025 (5% increase) | Price in 2025 (7% increase) |
|---|---|---|---|---|
| Apartment (60 sqm / 646 sqft) | 75,000,000 CFA | 77,250,000 CFA | 78,750,000 CFA | 80,250,000 CFA |
| Modern Apartment (75 sqm / 807 sqft) | 100,000,000 CFA | 103,000,000 CFA | 105,000,000 CFA | 107,000,000 CFA |
| Luxury Villa (200 sqm / 2,153 sqft) | 300,000,000 CFA | 309,000,000 CFA | 315,000,000 CFA | 321,000,000 CFA |
| Studio (30 sqm / 323 sqft) | 30,000,000 CFA | 30,900,000 CFA | 31,500,000 CFA | 32,100,000 CFA |
| Loft (80 sqm / 861 sqft) | 120,000,000 CFA | 123,600,000 CFA | 126,000,000 CFA | 128,400,000 CFA |
| Townhouse (150 sqm / 1,615 sqft) | 200,000,000 CFA | 206,000,000 CFA | 210,000,000 CFA | 214,000,000 CFA |
| Investment Property (50 sqm / 538 sqft) | 50,000,000 CFA | 51,500,000 CFA | 52,500,000 CFA | 53,500,000 CFA |
Everything you need to know is included in our Property Pack for Dakar
If real estate prices go up in Dakar, which areas are likely to see the biggest increases?
Today, people who want to move to Dakar are looking for a blend of traditional charm and modern amenities, which Almadies offers. Hence, we could see a price increase there in 2025.
Additionally, there's been a growing interest in vibrant, youthful neighborhoods, and Plateau has really started to gain traction.
We like it when information is clear and easy to digest. So, here’s a table that highlights the areas where prices might rise the most, along with the reasons behind those expected increases. It’s very high-level. If you want more details on a specific area, please check our real estate pack tailored to the Dakar market.
| Neighborhood | Level of Increase | Why |
|---|---|---|
| Almadies | High | Recent development of luxury housing projects and its increasing appeal to international buyers, driving demand. |
| Mermoz | High | Expected rise due to limited housing stock and growing demand for prime properties in central Dakar. |
| Ngor | Medium-High | Ongoing gentrification and new transport links, along with several planned redevelopment projects in the area, are likely to push prices higher. |
| Plateau | High | Upcoming large-scale urban regeneration projects and improved public transport access are expected to make this area more desirable. |
| Fann | Medium-High | Eco-friendly urban projects and recent construction of new schools and parks are increasing its attractiveness for families, pushing prices upward. |
| Sacre-Coeur | Medium | Investment in local infrastructure, such as the extension of tram lines and renovation of historic areas, is boosting long-term value. |
| Yoff | Medium-High | With new cultural and commercial spaces being developed, this trendy neighborhood is seeing increased demand from both residents and investors. |
| Dakar Corniche | High | Its scenic views and proximity to the ocean, along with new luxury developments, make it increasingly attractive to high-end buyers. |
| Ouakam | Medium | Gentrification and cultural regeneration projects are attracting new residents, leading to rising prices as the area becomes more fashionable. |
| Liberté | Medium-High | Its proximity to central Dakar, along with new office and residential developments, makes it increasingly attractive to professionals seeking more space. |
| Point E | High | As new luxury developments are launched, demand for premium housing among wealthy buyers is expected to further increase property values. |
| Gorée Island | High | Upcoming restoration projects and high-profile cultural initiatives are driving a renewed focus on this historic location. |
-The best areas to buy a property in Dakar
If I'm looking to invest in real estate, what types of properties should I focus on for the best value appreciation in Dakar?
In 2025, Dakar real estate trends focus on tech-smart, energy-efficient apartments, larger suburban homes for families, properties with outdoor spaces, and eco-friendly buildings—all driving higher demand and prices. Here is a summary.
- Tech-Equipped and Energy-Efficient Apartments:
Driven by remote work and sustainability trends, these homes offer smart technology features and energy-saving systems. They cater to young professionals and tech workers, making them a hot commodity in 2025.
- Family-Sized Apartments in Suburban Areas:
With a growing demand for larger living spaces, especially among families, suburban areas near Dakar are seeing increased interest. Proximity to green spaces and schools is a major factor driving value.
- Properties with Outdoor Spaces:
Post-pandemic, outdoor spaces like terraces, balconies, or gardens have become highly desirable. In dense cities like Dakar, these features offer a much-needed escape and are likely to drive up property values.
- Eco-Friendly Buildings with Low Carbon Footprints:
Dakar's commitment to sustainability is boosting demand for eco-certified buildings. Buyers are increasingly valuing properties that align with the city’s green goals, leading to price appreciation in this category.
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