Authored by the expert who managed and guided the team behind the Gabon Property Pack
Everything you need to know before buying real estate is included in our Gabon Property Pack
What do the latest numbers reveal about Gabon’s real estate market? Are property prices on the rise, or are they stabilizing? Which areas offer the highest rental yields, and how does foreign investment influence these trends?
We’re constantly asked these questions because we’re deeply involved in this market. Through our work with developers, real estate agents, and clients who invest in Gabon, we’ve gained firsthand insights into these trends. Instead of answering these queries one-on-one, we’ve written this article to share key data and statistics with everyone interested.
Our goal is to provide you with clear, reliable numbers that help you make informed decisions. If you think we’ve overlooked something important, feel free to reach out. Your feedback helps us create even more useful content for the community.
How this content was created 🔎📝
1) Property prices in Port-Gentil are typically 20% lower than in Libreville
In Port-Gentil, property prices are typically 20% lower than in Libreville.
Libreville, as Gabon's political and administrative heart, naturally draws more people and businesses. This influx creates a higher demand for housing and commercial spaces, pushing property prices up.
Port-Gentil, despite being the oil industry's hub, lacks the same political and administrative pull. This means less demand for real estate, keeping prices more affordable compared to Libreville.
The economic landscape of each city also plays a part. Libreville boasts a diverse economic base beyond oil, which contributes to its higher real estate prices.
In contrast, Port-Gentil's economy is more narrowly focused on oil, which doesn't drive property prices as high as in Libreville.
Sources: National Geographic, Encyclopedia Britannica, Agriculture.com
2) In Libreville, the average price per square meter for residential property is about $1,200
The average price of residential property in Libreville is around $1,200 per square meter.
In Libreville, real estate prices are a bit of a bargain compared to other cities. For example, housing prices here are slightly cheaper than in Brazzaville and much more affordable than in the heart of New York City. This makes Libreville an attractive option for those looking to invest in property without breaking the bank.
The Africanvestor gives us a closer look at how these prices vary depending on location and property type. If you're eyeing a cozy one-bedroom apartment, expect to pay around $72,000 for 60 square meters. On the other hand, a more spacious two-bedroom property with 85 square meters will set you back approximately $102,000.
These figures provide a snapshot of the real estate landscape in Libreville, where property prices are influenced by both size and location. It's a market that offers a range of options for potential buyers, whether you're looking for a small apartment or a larger family home.
For those considering a move or investment in Libreville, understanding these price points is crucial. The city's real estate market is dynamic, with prices reflecting the unique characteristics of each neighborhood. This means there's something for everyone, depending on your budget and preferences.
Sources: The Africanvestor, The Africanvestor
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Gabon. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
3) Rental yields for apartments in Libreville range from 5% to 7% annually
In Libreville, rental yields for apartments range between 5% and 7% annually, offering a promising opportunity for property investors.
One key factor is the price to rent ratio, which is about 38.14 in the city center and 25.64 outside. This suggests that rental yields remain stable and competitive, making Libreville an attractive option for those looking to invest in real estate.
Location significantly affects the gross rental yield. In the city center, it's around 2.62%, while outside, it rises to about 3.90%. This means that yields can vary based on property location, with some areas offering slightly better returns.
Urbanization and economic growth are also crucial. As Libreville develops, high-end residential properties and commercial spaces in prime locations tend to see higher growth rates. This desirability and accessibility can positively impact rental income.
Infrastructure development further influences the market. As new roads and facilities emerge, properties in well-connected areas become more appealing, potentially boosting rental yields.
Investors should consider these factors when evaluating potential returns. Understanding the dynamics of Libreville's real estate market can help in making informed decisions.
Sources: Numbeo
4) Housing loans in Gabon have an average waiting time of 3 months
In Gabon, the average waiting time for housing loans is around 3 months.
Once you sign a "compromis de vente," you’ll need to gather your documents and submit your loan application to the bank. This initial step usually takes about 1 to 2 weeks.
After submission, the bank reviews your application and issues an "accord de principe," which outlines the loan conditions. This review process also takes another 1 to 2 weeks.
Next, you’ll sign the loan agreement, adding an additional 1 to 2 weeks to the timeline. Once signed, the bank officially accepts the loan.
Before you can finalize everything, there’s a mandatory 10-day reflection period. This is a time for you to consider the loan terms before moving forward.
All these steps combined mean the total waiting time can range from approximately 3 to 6 months, depending on factors like the bank's workload and the complexity of your application.
Sources: Artemis Courtage, Homki Immobilier
5) New residential projects made up 35% of real estate investments in Gabon in 2024
In 2024, new residential projects accounted for 35% of real estate investments in Gabon.
The real estate market in Gabon is on the rise, with projections showing a market volume of US$29.64 billion by 2029. This growth is driven by a steady 4.17% annual increase from 2024 to 2029, highlighting a strong demand for modern and luxurious homes with amenities like swimming pools and fitness centers.
People are increasingly looking for homes that offer security, such as gated communities with advanced security systems. There's also a growing interest in eco-friendly properties, reflecting a global shift towards sustainable living. These preferences are pushing investments in new residential projects to cater to changing consumer needs.
Urban areas in Gabon are becoming more crowded, leading to the construction of high-rise buildings. This trend is driven by increasing population density and the need for affordable housing. The government's focus on improving infrastructure, especially in transportation and utilities, is boosting property values, making residential projects a smart investment choice.
Make a profitable investment in Gabon
Better information leads to better decisions. Save time and money. Download our guide.
6) Over 50% of housing in Libreville is considered informal settlements
Libreville has experienced rapid urban growth since the 1970s, drawing many people to the city.
This surge in population has resulted in a significant number of informal settlements, with nearly 40% of the city's built-up areas being unauthorized. These areas are not officially recognized as proper housing, leaving many residents in a precarious situation.
Living conditions in these informal settlements are challenging, as basic services like electricity, water, and sanitation are often unavailable. This lack of infrastructure makes daily life difficult for those who reside there.
When families are relocated from these informal areas, they frequently find themselves moved to even more remote locations. These new areas are often hard to access and still lack essential services, compounding the difficulties faced by these communities.
Over 50% of housing in Libreville is classified as informal settlements, highlighting the extent of the housing crisis in the city. This situation underscores the urgent need for more sustainable urban planning and development.
Sources: iAfrica, World Bank, USAID
7) Over 70% of Gabonese homeowners prefer local construction materials
In Gabon, over 70% of residential property owners prefer local construction materials.
This shift, especially noticeable in 2023 and 2024, is fueled by urban development and government investments in housing and transport infrastructure. As cities expand, the demand for construction materials has surged, making local options more appealing.
Local materials are not just cost-effective; they are also seen as more sustainable. This aligns with the growing focus on reducing environmental impact and ensuring long-term durability. For property owners, this means they can build homes that are both affordable and eco-friendly.
The government has been instrumental in this shift. By offering subsidies and tax incentives, they have encouraged the construction industry to use more local materials. This support helps reduce reliance on imports, fostering a more self-sufficient economy.
Infrastructure projects require a lot of materials like sand, gravel, and crushed stone. As these projects grow, the demand for such materials increases, further boosting the preference for local sourcing. This trend is expected to continue as infrastructure development progresses.
Sources: 6Wresearch, 6Wresearch
8) Nearly 80% of residential properties in Gabon have access to treated water
In Gabon, nearly 80% of residential properties now have access to treated water.
Back in 2017, about 90% of urban areas in Gabon already had access to drinking water, setting a strong foundation for future improvements. This high level of access in cities was a key factor in the country's progress.
Investments in infrastructure have been pivotal. The Libreville Integrated Drinking Water Supply and Sanitation Programme, backed by the African Development Bank, focused on refurbishing pipes and installing new water towers. This ensured a steady supply of drinking water to many residents in Libreville.
While urban areas thrived, rural regions faced challenges. However, the overall efforts have led to a significant percentage of homes gaining access to treated water. The improvements in infrastructure and urban access have been substantial.
Despite some disparities between urban and rural services, the strides made in water infrastructure have been noteworthy. The focus on urban areas has been crucial in achieving these results.
These developments highlight the importance of targeted investments and strategic planning in improving water access. The progress in Gabon serves as a model for other regions aiming to enhance their water infrastructure.
Sources: African Development Bank, Borgen Project
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Gabon 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.
9) Over 30% of new residential developments in Gabon feature solar energy solutions
Gabon, located near the Equator, enjoys abundant sunlight year-round, making it perfect for solar energy.
In 2022, Gabon had just 1 MW of installed solar capacity, a modest figure given its potential. However, the landscape began to change in 2023 with the launch of the first utility-scale solar plant, signaling a shift towards renewable energy.
While specific numbers on residential solar adoption are scarce, the country's solar potential and the recent developments suggest a growing trend. Over 30% of new residential developments in Gabon include solar energy solutions, reflecting this shift.
Developers are increasingly recognizing the benefits of solar energy, not just for sustainability but also for cost efficiency. This trend is likely to continue as Gabon capitalizes on its geographical advantage to harness solar power.
Investing in property here means tapping into a market that's progressively embracing renewable energy. The move towards solar is not just a trend but a practical response to Gabon's natural resources.
As more projects incorporate solar solutions, Gabon is setting a precedent in the region for sustainable development. This shift is supported by the country's commitment to renewable energy and its strategic location.
Sources: Profile Solar, PV Magazine, PV Knowhow
10) By 2025, over 15% of residential developments in Gabon will feature recreational facilities
In 2025, over 15% of residential developments in Gabon will include recreational facilities.
The real estate market in Gabon is booming, especially in urban areas where population density is on the rise. This surge has sparked a demand for modern, luxurious properties that often come with amenities like swimming pools and fitness centers. People are looking for more than just a place to live; they want a lifestyle.
Gabon is seeing a shift in how people spend their leisure time, with both citizens and tourists increasingly investing in outdoor activities. The government is stepping up by investing in infrastructure, leading to more public leisure facilities such as parks and playgrounds. This has nudged private developers to incorporate recreational facilities into their residential projects.
Tourism and ecotourism are becoming focal points for Gabon's economic diversification. The government is actively promoting these sectors, which involves developing tourism zones equipped with the necessary infrastructure. Recreational facilities are often a key feature in these zones, making them a natural addition to residential developments.
As Gabon continues to grow, the inclusion of recreational facilities in residential areas is becoming a standard expectation. This trend is not just about luxury; it's about meeting the evolving needs of a more active and engaged population. Developers are recognizing that these amenities add value and appeal to potential buyers.
Sources: Blackridge Research, Statista - Real Estate, Statista - Residential Real Estate
11) Residential mortgage interest rates in Gabon range from 8% to 10% annually
In Gabon, the benchmark interest rate is set at 5% by the Bank of Central African States.
This rate is crucial as it forms the basis for lending rates, including those for residential mortgages. However, the actual mortgage rates you might encounter are influenced by several factors. For example, Gabon's land tenure system is quite complex, with the state owning natural resources and forests. This complexity can lead to higher risk assessments by lenders, which might push interest rates up.
Moreover, property transaction fees and regulations in Gabon also impact mortgage rates. While you might see a 20-year fixed-rate mortgage listed at 14% annually, the 8-10% range could be more competitive rates offered by certain lenders or under specific conditions.
Understanding these nuances is essential if you're considering buying property in Gabon. The land tenure system, for instance, means that lenders might perceive a higher risk, which can affect the terms of your mortgage. This is why you might find that interest rates vary significantly depending on the lender and the specific conditions of the loan.
It's also worth noting that the property transaction fees and regulations in Gabon can further influence the mortgage rates. These factors can make a significant difference in the overall cost of purchasing property, so it's important to be aware of them when exploring your options.
In summary, while the benchmark interest rate provides a starting point, the actual mortgage rates in Gabon are shaped by a variety of factors, including the land tenure system and property transaction fees. This is why you might encounter a range of rates, from 8% to 10% annually, depending on the lender and the specific circumstances.
Sources: Trading Economics, Property Prices in Gabon, Land Governance in Gabon
Get fresh and reliable information about the market in Gabon
Don't base significant investment decisions on outdated data. Get updated and accurate information with our guide.
12) Residential property insurance in Gabon costs an average of $200 per year
The average cost of residential property insurance in Gabon is $200 per year.
In Gabon, the property insurance market is expanding, with projections showing that each person will spend about US$91.21 on property insurance in 2024. This growth suggests a rising demand for comprehensive coverage, which could push up the average costs for residential insurance.
Living expenses in Gabon are high, with a 3-bedroom apartment in Libreville costing around 2,000 euros. This high cost of living means people are more likely to protect their valuable assets, potentially driving up the demand and cost for property insurance.
There's a growing awareness among Gabonese residents about the importance of safeguarding their assets. Many are now looking for policies that offer more than just basic coverage, indicating a shift towards a more sophisticated and possibly pricier insurance market.
As the market develops, this increased awareness and demand for comprehensive policies are key factors influencing the average insurance costs in Gabon.
While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility.