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Douala's property market is experiencing robust growth with apartment prices averaging $1,851-$1,890 per square meter in the city center as of September 2025. Property values have increased by 20-30% over the past five years, with rental yields reaching 10.3% in prime locations, making Douala Cameroon's most attractive real estate investment destination.
The market shows strong fundamentals driven by rapid urbanization, infrastructure development, and increasing foreign investment. With new housing units lagging behind demand and vacancy rates below 5%, property prices are projected to continue growing at 5% annually through 2029.
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.
Douala's property market demonstrates exceptional investment potential with city center apartments averaging $1,851-$1,890 per square meter and rental yields of 10.3%.
The market has grown 20-30% over five years and is projected to continue appreciating at 5% annually through 2029, supported by strong demand and limited supply.
| Market Indicator | Current Status (Sept 2025) | Forecast/Trend |
|---|---|---|
| City Center Apartment Price | $1,851-$1,890/m² | 5% annual growth to 2029 |
| Outside Center Price | $694-$920/m² | 4-6% annual appreciation |
| Rental Yield (Center) | 10.3% | Stable, highest in Cameroon |
| Rental Yield (Outside) | 13.2% | Gradually declining as prices rise |
| Vacancy Rate | 2-4% | Tightening market conditions |
| New Housing Units | 675 planned for 2025 | Supply shortage continues |
| Foreign Investment Share | 10-20% of transactions | Growing 12% annually |
What's the current average price per square meter for apartments and houses in Douala?
Douala's residential property prices vary significantly based on location and property type as of September 2025.
City center apartments command premium prices ranging from $1,851 to $1,890 per square meter, equivalent to approximately 1,100,000 to 1,182,883 CFA francs per square meter. These properties benefit from proximity to business districts, amenities, and transportation hubs.
Outside the city center, apartment prices drop considerably to $694-$920 per square meter (412,000-572,239 CFA/m²), offering more affordable options for buyers and investors seeking higher rental yields. The price differential reflects the trade-off between location convenience and affordability.
For new house construction, costs range from 120,000 XAF per square meter for basic builds to 400,000 XAF per square meter for luxury properties. These figures represent construction costs excluding land acquisition and high-end finishing materials.
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How have property prices in Douala changed in the past 5 years, both in percentage growth and absolute numbers?
Douala's property market has experienced substantial growth over the past five years, with consistent annual appreciation rates.
Property prices have increased at an annual rate of 3-7% between 2020 and 2025, resulting in cumulative price appreciation of 20-30% over the five-year period. This growth trajectory has outpaced inflation and general economic growth, making real estate a strong hedge against currency devaluation.
In absolute terms, a city center apartment that sold for approximately $1,450 per square meter in 2020 now commands around $1,850 per square meter, representing a $400 per square meter increase. This translates to significant wealth creation for property owners who purchased during this period.
The primary growth drivers include rapid urbanization with Douala's population growing 16% over five years, major infrastructure improvements, and increasing investor demand both domestically and internationally. The port city's strategic importance as Cameroon's economic capital has attracted businesses and residents, sustaining property demand.
What is the projected annual growth rate of property prices in Douala over the next 3 to 5 years?
Douala's property market is expected to maintain robust growth through 2029, with projected annual appreciation rates of approximately 5%.
Market analysts forecast residential property prices will continue appreciating at 4.99% annually, rounded to 5%, based on continued urbanization, infrastructure development, and sustained demand-supply imbalances. This represents a slight moderation from the higher growth rates of recent years but remains attractive for investors.
Using compound growth calculations, current city center apartment prices of $1,890 per square meter could reach approximately $2,200 per square meter by 2029. This projection assumes steady economic conditions and continued infrastructure investment in the Douala metropolitan area.
The forecast remains optimistic due to Douala's unique position as Cameroon's economic powerhouse, ongoing port expansion projects, and the government's commitment to urban development. However, actual growth may vary based on global economic conditions and local policy changes.
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How many new housing units are expected to be built in Douala in the next 12 to 24 months?
Douala faces a significant housing supply shortage, with new construction falling well short of demand projections.
The government has targeted 675 new social housing units for completion in Douala during 2025 under the national social housing initiative. Additionally, the State Real Estate Company (SIC) plans to deliver approximately 3,000 units nationally between 2024 and 2026, with several hundred expected in Douala annually.
However, actual delivery has consistently lagged behind ambitious targets. In 2024, only 110 new housing units were completed across both Douala and Yaoundé combined, falling dramatically short of the 550-unit target. This pattern of underdelivery has persisted for several years.
The construction shortfall stems from financing constraints, bureaucratic delays, land acquisition challenges, and limited local construction capacity. This supply-demand imbalance continues to support property price appreciation and maintains tight rental markets throughout the city.
What is the current rental yield in Douala, and how does it compare to other major cities in Cameroon?
Douala offers the highest rental yields among major Cameroonian cities, making it the country's premier real estate investment destination.
| Location | Rental Yield | Investment Appeal |
|---|---|---|
| Douala City Center | 10.3% | High price, strong rental demand |
| Douala Outside Center | 13.2% | Best yield-to-price ratio |
| Yaoundé | 4.9-10% | Lower yields, political capital premium |
| Other Major Cities | 6-9% | Limited data, smaller markets |
| National Average | 8-12% | Douala outperforms significantly |
Douala's superior rental yields reflect the city's economic dynamism, job creation, and limited housing supply. Properties outside the city center offer particularly attractive yields of 13.2%, appealing to investors seeking maximum rental income returns.
What percentage of property transactions in Douala are financed through mortgages versus cash purchases?
Cash purchases dominate Douala's property market due to limited mortgage accessibility and high borrowing costs.
The vast majority of property transactions are cash-based, with mortgage financing used in only a small minority of deals. High mortgage interest rates ranging from 13-19% annually, combined with strict eligibility requirements, limit mortgage adoption among potential buyers.
Banking institutions maintain conservative lending practices, requiring substantial down payments and extensive documentation that many buyers cannot provide. The formal employment requirement excludes many entrepreneurs and informal sector workers who comprise a significant portion of property buyers.
This cash-dominated market creates opportunities for investors with available capital while potentially limiting market liquidity and accessibility for middle-income buyers. The situation may improve as financial sector reforms progress and mortgage products become more accessible.
It's something we develop in our Cameroon property pack.
How has the vacancy rate in Douala evolved in the past 3 years, and what is it currently estimated at?
Douala's property market has experienced consistently tightening vacancy rates over the past three years, indicating strong rental demand.
Current vacancy rates in the city center are estimated at approximately 2-4%, representing historically low levels that demonstrate robust rental market conditions. The overall Douala market maintains vacancy rates below 5%, significantly tighter than most comparable African cities.
This vacancy compression reflects several factors including rapid population growth due to job migration, limited new housing construction, and increasing urbanization as rural residents move to economic opportunities in the port city. The trend has accelerated since 2023 as post-pandemic economic recovery strengthened.
Low vacancy rates support continued rental price increases and provide security for property investors, though they also indicate an acute housing shortage that impacts affordability for renters. The situation is expected to persist until new housing supply significantly increases.
What is the forecasted demand for residential properties in Douala, measured in number of households or square meters needed per year?
Douala faces massive unmet housing demand that continues growing faster than new supply delivery.
Cameroon has a national urban housing deficit estimated at 2.5 million units, with Douala experiencing the highest concentration of this shortage due to its role as the economic capital. The city attracts the largest share of internal migration and business investment, creating continuous housing pressure.
Annual demand is driven by household formation rates exceeding 3% yearly, combined with population influx from rural areas and other regions seeking economic opportunities. This suggests Douala requires several thousand new residential units annually just to maintain current housing conditions.
The demand includes both ownership and rental properties across all price segments, though the shortage is most acute for middle-income housing. Foreign workers, business executives, and growing middle-class families create particular demand for quality housing with modern amenities.
How is the commercial real estate sector in Douala performing in terms of average occupancy rates and rental prices?
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.
Douala's commercial real estate sector demonstrates strong performance metrics across office, retail, and logistics segments.
Occupancy rates remain high at 85-95% in core districts, particularly for prime logistics spaces, retail locations, and modern office buildings. The city center and new industrial zones command the highest occupancy rates due to proximity to port facilities and transportation infrastructure.
Commercial rental prices reflect Douala's status as Cameroon's business capital, with premium locations commanding rates comparable to residential property price premiums. Logistics and warehouse spaces benefit particularly from the city's position as Central Africa's primary port gateway.
New commercial developments, including the upcoming $411 million Industrial and Logistics Hub, are expected to maintain strong leasing activity while potentially moderating rental growth in some submarkets as additional supply becomes available.
What percentage of foreign investment is going into Douala's property market, and how has that figure changed in the past 2 years?
Foreign investment in Douala's real estate market has grown significantly, reflecting increasing international confidence in the city's economic prospects.
Currently, foreign capital accounts for approximately 10-20% of new large-scale property transactions in Douala, focusing primarily on commercial development and luxury residential projects. This represents a substantial increase from lower levels in previous years.
Foreign direct investment in Cameroonian real estate has grown at approximately 12% annually since 2020, with Douala capturing the largest share due to its economic importance and infrastructure development. International investors are attracted by high rental yields, relatively stable currency conditions, and strategic location advantages.
The trend has accelerated over the past two years as infrastructure projects, port expansion, and logistics development attract more international attention. European investors, particularly from France and Germany, along with regional African investors, comprise the majority of foreign property investment.
What infrastructure projects are currently underway or planned in Douala, and what impact are they expected to have on property values?
Major infrastructure investments are transforming Douala's economic landscape and supporting continued property value appreciation.
The flagship project is the $411 million Industrial and Logistics Hub on the Dibamba River, scheduled for phased completion over 24-36 months. This development will create thousands of jobs and improve transportation infrastructure including road, rail, and river connections, particularly benefiting Eastern Douala property values.
Additional ongoing projects include road network improvements, new urban housing districts, and port expansion initiatives. The port of Douala, already Central Africa's largest, is undergoing modernization to handle increased cargo volumes and larger vessels.
These infrastructure investments are expected to drive sustained property demand and price appreciation, especially in areas directly served by new transportation links. Properties within proximity to the new industrial hub and improved transport corridors will likely experience above-average value increases over the project timeline.
It's something we develop in our Cameroon property pack.
What are the biggest risks to the Douala property market forecast, such as inflation rates, currency fluctuations, or regulatory changes, and what are the projected impacts in numbers?
Several risk factors could impact Douala's property market trajectory, though most are manageable within current economic frameworks.
Inflation represents the primary near-term risk, potentially reducing real returns if consumer price increases exceed 6% annually. While economic reforms have moderated inflation pressures, persistent price increases could erode rental yield advantages and slow price appreciation.
Currency fluctuation poses moderate risk due to the CFA franc's peg to the euro, providing relative stability compared to other African currencies. However, significant euro weakness or changes to the peg arrangement could affect foreign investor returns and international purchasing power.
Regulatory changes, particularly regarding land title security and mortgage access, remain ongoing challenges. Any tightening of property regulations or ownership restrictions could reduce transaction volumes and impact market liquidity.
In severe downside scenarios, these combined risks could result in 3-8% property price corrections lasting 1-2 years. However, Douala's fundamental economic advantages and infrastructure investments provide substantial downside protection compared to other regional markets.
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.
Douala's property market presents compelling opportunities for both investors and residents seeking quality housing in Cameroon's economic capital.
With high rental yields, steady price appreciation, and major infrastructure development, the market fundamentals support continued growth despite some economic risks.
Sources
- The African Investor - Average Property Prices Cameroon
- The African Investor - Cameroon Price Forecasts
- The African Investor - Douala Price Forecasts
- SimTrade - Cameroonian Real Estate Market
- The African Investor - Cameroon Real Estate Trends
- Numbeo - Property Investment Comparison
- Business in Cameroon - Housing Construction Data
- Ecofin Agency - Industrial Hub Development
- Numbeo - Douala Property Investment
- Unlimited Tech Projects - Construction Costs Cameroon