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Yes, the analysis of Dakar's property market is included in our pack
Property prices in Dakar show significant variation across neighborhoods, with apartments ranging from XOF 44M to XOF 500M depending on location and size.
As of September 2025, the Dakar real estate market presents compelling opportunities for both investors and residents, with prime areas like Almadies commanding premium prices while emerging neighborhoods like Fann and Sacré-Coeur offer strong growth potential. Transaction costs are substantial at around 17-21% for buyers, but rental yields of 6-10% in prime areas make Dakar competitive with regional markets like Lagos and Abidjan.
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Dakar's property market offers diverse investment opportunities with apartments averaging XOF 1,100,000-1,800,000 per square meter citywide.
Prime neighborhoods like Almadies command the highest prices while up-and-coming areas like Fann and Diamniadio show strong growth potential with annual appreciation of 5-6%.
| Property Type | Price Range | Best Areas |
|---|---|---|
| Studio/1BR (40-60m²) | XOF 44M-72M ($73K-$120K) | Suburban areas, Yoff |
| 2BR Apartment (100-150m²) | XOF 100M-210M ($167K-$350K) | Fann, Point E |
| Prime Penthouse (>150m²) | XOF 350M-500M ($583K-$833K) | Almadies, Point E |
| Mid-market Villa (120-200m²) | XOF 80M-200M ($133K-$333K) | Ngor, Fann |
| Luxury Villa | XOF 150M-300M+ ($250K-$500K+) | Almadies |
| Prime Land (per m²) | XOF 100K-200K ($167-$333) | Almadies |
| Mid-tier Land (per m²) | XOF 60K-150K ($100-$250) | Ngor, Fann, Sacré-Coeur |
What are the current asking and closing prices in Dakar by property type and size?
Dakar's property market shows clear price differentiation across property types and sizes as of September 2025.
Apartments citywide average between XOF 1,100,000-1,800,000 per square meter ($1,820-$2,980), with studios and 1-bedroom units (40-60m²) starting from XOF 44M-72M ($73K-$120K) in suburban areas. Two-bedroom apartments spanning 100-150m² command XOF 100M-210M ($167K-$350K) depending on finish and location.
Prime penthouses in premium areas like Almadies and Point E reach XOF 350M-500M ($583K-$833K), typically exceeding 150m² with ocean views and luxury amenities. These represent the top tier of Dakar's residential market.
Houses and villas show wider price ranges, with mid-market properties in Ngor and Fann priced at XOF 80M-200M ($133K-$333K) for 120-200m² properties. Luxury villas in Almadies command XOF 150M-300M+ ($250K-$500K+), featuring large plots and premium construction standards.
Land prices vary dramatically by location, with prime Almadies plots costing XOF 100K-200K per square meter ($167-$333), while mid-tier areas like Ngor, Fann, and Sacré-Coeur range from XOF 60K-150K per square meter ($100-$250).
Which neighborhoods offer the best value in each price bracket right now?
Dakar's neighborhood hierarchy reflects clear distinctions between luxury, emerging, and affordable areas.
Almadies stands as the most expensive neighborhood, with apartments commanding XOF 3.5M-5.5M per square meter and villas ranging from XOF 150M-300M+. Point E and Plateau maintain similar premium pricing with strong demand and high appreciation rates, making them reliable but expensive choices.
Up-and-coming neighborhoods include Fann, Sacré-Coeur, and Diamniadio, benefiting from infrastructure improvements and new eco-friendly projects with annual price growth of 5-6%. These areas offer the best balance of current value and future appreciation potential.
Budget-friendly options center on Grand Dakar, Yoff, and Pikine, where prices range from XOF 500K-1M per square meter, providing entry-level opportunities for first-time buyers and value investors.
The smartest buys today target mid-market apartments in newly serviced Fann and Sacré-Coeur areas, land near Diamniadio's development zone, and affordable houses in Yoff and Ngor with renovation potential. These properties offer the optimal combination of current affordability and future growth prospects.
What are the current price per square meter rates across different market segments?
| Area | Entry-Level (XOF/m²) | Mid-Market (XOF/m²) | Prime (XOF/m²) |
|---|---|---|---|
| Almadies | 2,500,000 | 3,500,000 | 5,500,000 |
| Point E | 2,000,000 | 2,800,000 | 4,000,000 |
| Fann/Sacré-Coeur | 900,000 | 1,500,000 | 2,500,000 |
| Yoff/Pikine | 500,000 | 750,000 | 1,000,000 |
| Ngor | 800,000 | 1,200,000 | 2,000,000 |
| Grand Dakar | 600,000 | 900,000 | 1,300,000 |
| Diamniadio | 700,000 | 1,100,000 | 1,800,000 |
Can you show specific recent purchase examples from key neighborhoods?
Recent transaction data reveals clear pricing patterns across Dakar's key neighborhoods.
In Almadies, a 120m² sea-view apartment sold for XOF 225M in fully renovated condition, representing the premium end of the coastal market. This translates to approximately XOF 1.9M per square meter, reflecting the neighborhood's luxury positioning.
Fann's new construction market shows strong activity, with a 100m² apartment in the Eco Tower project selling for XOF 135M, demonstrating the area's appeal to modern buyers seeking contemporary amenities and sustainable features.
Ngor's housing market presents value opportunities, exemplified by a 150m² townhouse that sold for XOF 90M in good condition requiring renovation. This property offers potential for value-add investors at XOF 600K per square meter.
Diamniadio's land market remains active, with a 250m² serviced plot selling for XOF 18M, reflecting the area's development potential and infrastructure improvements at XOF 72K per square meter.
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What are the total all-in costs including all transaction fees?
Dakar's property transaction costs significantly impact the total investment required.
Stamp duty represents the largest cost at 10% of the purchase price, while notary fees range from 0.75% to 4.5% on a declining scale for higher-value properties. Land registry fees add another 6% to the transaction cost.
Agent fees typically range from 5-8% of the purchase price, usually paid by the seller, though this should be confirmed in each transaction. Legal and survey costs typically add 2-3% to the buyer's expenses.
HOA setup and utility connections vary by property type but typically cost 1-2 million XOF for standard apartments and houses. These costs can be higher for luxury properties with extensive amenities.
Total buyer costs range from 17-21% on top of the purchase price, while sellers typically pay 5-8% in fees. For a XOF 100M property, buyers should budget an additional XOF 17M-21M for transaction costs, making the total investment XOF 117M-121M.
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What taxes apply at purchase and annually for property ownership?
Dakar property taxation involves both upfront and ongoing costs that significantly impact investment returns.
Purchase taxes include the 10% stamp duty, 6% registry fee, and notary fees up to 4.5%, creating a substantial upfront tax burden of approximately 20% or more of the purchase price. These costs are unavoidable and must be factored into initial investment calculations.
Annual property tax amounts to 5% of the estimated rental value, which varies by property type and location. For a typical apartment generating XOF 500K monthly rent, annual property tax would be approximately XOF 300K (5% of XOF 6M annual rental value).
Capital gains taxation applies to property resales, though specific rates and exemptions should be verified with local tax advisors as they may vary for residents versus non-residents. Withholding requirements for foreign sellers may apply.
For a 5-year hold period, total tax costs include the substantial upfront purchase taxes (approximately 25% of purchase price) plus annual property taxes of typically XOF 1.5M-3M per year for standard apartments, significantly impacting overall investment returns.
What mortgage options exist for residents and non-residents?
Mortgage availability in Dakar varies significantly between residents and foreigners.
Local residents can access mortgages with loan-to-value ratios up to 80%, terms spanning 10-20 years, and interest rates ranging from 7-10%. Down payments typically start at 20% for qualified local borrowers with steady income and good credit history.
Foreign buyers face more restrictive lending conditions, with limited access to local mortgages. When available, foreign mortgages typically offer maximum LTV ratios of 60% or less, with interest rates ranging from 9-12% and requiring down payments of 40% or more.
Most foreign buyers opt for cash purchases or arrange private financing from their home countries. Some international banks offer offshore mortgages for qualified clients, though terms are generally less favorable than local options.
For a XOF 100M loan over 15 years at 8% interest, monthly payments would be approximately XOF 960K. This calculation helps buyers assess affordability against their monthly income and other financial obligations.
Which areas offer the best value for quality of life and future resale?
Dakar neighborhoods offer distinct lifestyle advantages and resale potential based on amenities and development trends.
Almadies provides the ultimate luxury living experience with international schools, upscale shopping, and beachfront access, making it ideal for expatriate families and wealthy locals seeking premium lifestyle amenities. Future resale potential remains strong due to limited supply and consistent demand.
Point E and Plateau offer urban conveniences with excellent connectivity, business districts, and cultural amenities, appealing to professionals who prioritize central location and city lifestyle. These areas maintain strong resale value due to their established infrastructure and continued development.
Ngor and Fann provide authentic Dakar living with beach access and local character while maintaining good infrastructure and accessibility. These neighborhoods offer excellent value for residents seeking quality of life without premium pricing, with solid resale prospects.
Areas with infrastructure improvements like Plateau, Fann, and Diamniadio show the strongest resale potential due to ongoing development projects, improved transportation links, and government investment in urban planning and modernization.
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What are the expected rental yields and occupancy rates by area?
Dakar's rental market shows strong yields across different neighborhoods and rental strategies.
Prime areas like Almadies and Fann deliver net rental yields of 6-10%, with short-term rentals achieving occupancy rates above 60% and average daily rates of $70-$120. These areas attract business travelers, expatriates, and tourists seeking premium accommodations.
Suburban areas including Yoff and Grand Dakar generate yields of 4-7% with longer rental cycles and average daily rates of $35-$55. These markets serve local professionals and long-term residents, offering more stable but lower-yielding rental income.
Short-term rental regulations require property registration and compliance with local tax obligations, while tourist zoning limitations may restrict short-term rental operations in certain neighborhoods. Property owners must verify local regulations before committing to short-term rental strategies.
Long-term rentals generally provide more stable occupancy but lower yields, while short-term rentals offer higher returns but require active management and compliance with evolving regulations affecting the hospitality sector.
Where are the best opportunities for value-add and resale strategies?
Value-add opportunities in Dakar focus on emerging neighborhoods and renovation projects.
Fann and Sacré-Coeur present the best renovation opportunities, with potential uplift of 10-20% for properties requiring modernization. These areas benefit from improving infrastructure while maintaining reasonable purchase prices for value-add investors.
Diamniadio offers new build opportunities with potential appreciation of 15% or more following infrastructure completion. The area's development as a planned city provides multiple investment strategies from land banking to new construction projects.
Renovation costs typically range from XOF 100K-250K per square meter for standard upgrades, while new build premiums add XOF 150K-350K per square meter depending on specification level and finishing quality.
Successful value-add strategies focus on properties in transitioning neighborhoods where infrastructure improvements and urban planning initiatives create natural appreciation drivers beyond the property improvements themselves.
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How have property prices changed over recent years?
Dakar's property market has shown consistent growth across different timeframes and neighborhoods.
Over the past year, prices have increased 3-7% citywide, with coastal and infrastructure-adjacent areas showing stronger growth of 6-10%. This growth reflects continued demand from both local and international buyers despite global economic uncertainties.
The five-year trend shows more dramatic appreciation, with prime areas increasing 8-12% annually while suburban areas have grown 5-8% per year. This sustained growth demonstrates the market's fundamental strength and Dakar's position as West Africa's key economic hub.
Key growth drivers include expatriate and investor demand, limited supply of quality properties, major infrastructure projects including tram systems and Bus Rapid Transit, and urban regeneration initiatives that improve neighborhood attractiveness and connectivity.
Areas benefiting from new transport links and urban planning initiatives have outperformed the broader market, while neighborhoods lacking infrastructure investment have seen more modest price appreciation relative to prime and emerging areas.
What's the outlook for Dakar property prices over the next decade?
Dakar's property market outlook remains positive across multiple time horizons.
Short-term forecasts for 2026 anticipate continued growth of 3-7% annually, driven by ongoing infrastructure projects, steady economic growth, and Dakar's role as a regional business hub attracting multinational companies and expatriate workers.
Medium-term projections through 2030 expect peak performance in coastal areas and new smart city developments, with annual appreciation potentially reaching higher levels in areas benefiting from major infrastructure completion and urban planning initiatives.
Long-term outlook through 2035 suggests sustained growth as Dakar consolidates its position as West Africa's premier city, though growth rates may moderate as the market matures and supply increases to meet demand from population growth and economic development.
Compared to regional markets, Dakar's prime yields and prices rival Lagos and Abidjan while exceeding Accra for premium properties. Casablanca maintains higher pricing at the luxury end, but Dakar's mid-market yields rank among the region's best, offering attractive risk-adjusted returns for investors.
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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.
Dakar's property market offers compelling opportunities for both investors and residents, with clear price differentiation across neighborhoods and property types.
Success in this market requires understanding the substantial transaction costs (17-21% for buyers) while capitalizing on strong rental yields (6-10% in prime areas) and consistent price appreciation that outpaces inflation and regional alternatives.
Sources
- The AfricanVestor - Dakar Property
- The AfricanVestor - Senegal Real Estate Market
- The AfricanVestor - Senegal Price Forecasts
- The AfricanVestor - Dakar Price Forecasts
- Loger Dakar - Best Areas to Buy
- Global Property Guide - Senegal
- The AfricanVestor - Buy Land Senegal
- ICTD - Property Tax Valuation Dakar