Authored by the expert who managed and guided the team behind the Ivory Coast Property Pack
Everything you need to know before buying real estate is included in our Ivory Coast Property Pack
Why is Ivory Coast emerging as a prime destination for property investment in 2025? Is it the impressive economic growth, the expanding urban infrastructure, or the competitive property prices compared to other African markets? What are the key benefits for investors?
We frequently encounter these questions because we are actively engaged with local developers, real estate agents, and investors like you. Given the growing interest in this market, we've decided to compile our insights into a comprehensive article for everyone's benefit.
Our aim is to present a compelling case for investing in Ivory Coast's real estate market, supported by our firsthand experience and market expertise.
If you feel we've overlooked an important aspect in our content or wish to learn more, please don't hesitate to reach out (we respond very quickly). Your feedback enhances the quality of our content.
Finally, please remember that this is not financial or investment advice. Real estate investment involves inherent risks, and market conditions can change unexpectedly. We strongly recommend conducting thorough research and consulting with a qualified financial advisor before making any investment decisions.
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1) The favorable climate makes this country a great place to live
Ivory Coast offers a pleasant climate that many find ideal for living.
With an average annual temperature ranging from 73°F to 80°F (23°C to 26.6°C), the weather is comfortably warm without being extreme. This means you can enjoy a consistent climate throughout the year, perfect for those who prefer stability in their daily lives.
Sunshine is abundant, especially in cities like Man, which sees about 2275 hours of sunshine annually. That's roughly 6.2 hours of sun each day, ideal for outdoor enthusiasts who love basking in the sun or engaging in outdoor activities.
One of the appealing aspects of living here is the absence of extreme weather events. The climate is stable and pleasant, making it a safe and attractive option for potential homeowners.
The real estate market is booming, particularly in urban areas like Abidjan. This growth is fueled by urbanization and a rising middle class, showing that the climate and living conditions are drawing people in.
Both locals and expatriates are finding the living conditions favorable, as evidenced by the increasing demand for residential properties. This trend highlights the country's appeal as a desirable place to settle down.
Sources: Trading Economics, Climates to Travel, Africa Guide
2) With the digital economy booming, Ivory Coast has a rising need for tech-friendly homes
Ivory Coast's digital economy is booming, with internet penetration reaching 45.4% in 2023.
With 12.94 million internet users, the country is seeing a surge in connectivity, thanks to the government's push to expand infrastructure. By 2024, they plan to lay down thousands of kilometers of optical fiber, making sure more people can get online.
The mobile scene is buzzing too, with 41.41 million active cellular connections in 2023, which is more than the entire population. This means almost everyone has a phone, and with faster mobile internet speeds coming in 2024, staying connected is getting easier and better.
The government is backing this digital wave with a $3.3 billion digital development strategy running from 2021 to 2025. This includes a bunch of reforms and investments, plus a new startup law in 2023 that's really helping tech startups to thrive.
The digital economy is expected to grow from $2 billion in 2021 to $5.5 billion by 2025. This boom is drawing in foreign investors and creating a buzz around tech-friendly homes. As cities grow, people are looking for modern places to live that come with smart home tech and fast internet.
Urbanization is on the rise, and with it, the demand for homes that cater to a tech-savvy lifestyle. People want spaces that are not just homes but are equipped with the latest technology to keep up with their digital lives.
Sources: Ecofin Agency, DataReportal, The Africa CEO Forum
We have made this infographic to give you a quick and clear snapshot of the property market in Ivory Coast. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
3) Ivory Coast's fast-growing economy boosts real estate appreciation
Ivory Coast is experiencing one of the fastest economic growth rates in Africa, making it a hot spot for real estate investment.
In 2023, the economy grew by 6.2%, thanks to a mix of private consumption, industrial growth, and a boost in agricultural output, especially cocoa. This trend is expected to continue into 2024, with industrial activities picking up, inflation easing, and global demand rising.
Looking ahead to 2025, the IMF predicts a growth rate of 6.4%, signaling ongoing economic expansion. This positive outlook is attracting foreign investors, who are encouraged by international financial institutions' confidence in the country's stability. Major infrastructure projects, like the new metro in Abidjan and airport expansions, are also playing a key role in urban development.
The middle class is growing, with GDP per capita expected to increase from $2,572 in 2023 to $2,854 in 2025. This rise in purchasing power is fueling demand for both housing and commercial spaces. The urban development master plan for Greater Abidjan, initiated in 2015, continues to guide the city's transformation, drawing private investment and promoting sustainable growth.
Abidjan's metro project is a game-changer, enhancing connectivity and making the city more attractive for businesses and residents alike. The airport extension is another crucial development, improving international access and boosting tourism and trade.
With these developments, Ivory Coast is not just growing; it's evolving into a modern, connected hub that offers exciting opportunities for real estate investors.
Sources: Economic and political overview in the Ivory Coast, Ivory Coast launches construction of metro project, Predictions 2025 – Ivory Coast Edition
4) Being part of regional economic communities, this country offers great cross-border real estate opportunities
Ivory Coast's membership in regional economic communities opens up exciting cross-border real estate opportunities.
Being part of the Economic Community of West African States (ECOWAS) is a big deal for Ivory Coast. This membership encourages regional trade and investment, making the real estate market more integrated across West Africa. The ECOWAS Common External Tariff (CET) is another game-changer. By standardizing tariffs, it makes cross-border trade more predictable and efficient, which is great news for real estate investors.
Infrastructure projects like the Abidjan-Lagos Corridor are also boosting connectivity. This corridor is crucial for regional trade and development, making it easier for real estate opportunities to flourish across borders. Plus, the harmonization of business laws under the Organization for the Harmonization of Business Law in Africa (OHADA) reduces legal risks. This makes investors more confident and encourages companies to operate across borders.
The African Continental Free Trade Area (AfCFTA) is another factor driving demand for real estate services. As intra-African trade rises, there's a growing need for logistics and storage facilities, which means more real estate opportunities. All these elements combined make Ivory Coast a promising spot for real estate investments in the region.
Sources: Côte d'Ivoire - Market Overview - International Trade Administration, Assessing the economic impact of the ECOWAS CET and economic partnership agreements, Abidjan-Lagos Corridor: West Africa's $15.6 Billion Game-Changing Highway Takes Shape
5) In Ivory Coast, you’ll find strong banks offering easy financing for property buyers
Ivory Coast's banking sector is thriving, with total assets growing by 10% from 2022 to 2023.
This growth means a robust financial environment, which is great news if you're looking to buy property. The country offers a variety of financial institutions, including 28 commercial banks and 47 microfinance institutions, ensuring you have plenty of options to find the right financing for your needs.
Thanks to efforts by the Central Bank of West African States and the Ivorian Government, banking regulations and oversight have improved, making the sector more reliable. This is part of a broader strategy to make banking services accessible to more people, which is crucial for potential property buyers like you.
The National Strategy for Financial Inclusion is a key initiative here. It aims to enhance financial inclusion, ensuring that more people can access banking services. This is particularly important for those looking to invest in property, as it opens up more financing options.
With a strong banking sector and diverse financial institutions, Ivory Coast is well-positioned to support property buyers. The improvements in banking regulations and the focus on financial inclusion mean that financing options are becoming more accessible to a broader population.
So, if you're considering buying property in Ivory Coast, the financial landscape is favorable, offering a range of options to suit different needs and preferences.
Sources: Afreximbank, CEIC Data, IMF eLibrary, Trading Economics, IMF eLibrary
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6) With a growing middle class, there’s more demand for quality housing
The growing middle class in Ivory Coast is significantly boosting the demand for quality housing.
In cities like Abidjan, urbanization is a major driver of this trend. People are flocking to the city, and it's expected that Abidjan's population will jump from 5.5 million in 2022 to 6.7 million by 2025. This influx is creating a buzz in the real estate market, which has been expanding at a brisk pace.
Since 2011, Abidjan's real estate market has grown by about 18% annually. This growth reflects the increasing demand for housing, especially in urban areas. Surveys suggest that by 2025, 90% of people expect housing demand to rise compared to 2024, showing a clear upward trend.
Rising disposable incomes among the middle class are also playing a big role. Despite some financial hurdles, 81% of people are optimistic about their financial future in 2025. This optimism is tied to their growing incomes, which in turn fuels their desire for better living conditions.
With more money in their pockets, the middle class is eager to upgrade their homes. This financial capability is a key factor in the increasing demand for quality housing. The trend is clear: as people earn more, they want to live better.
In summary, the combination of urbanization, a booming real estate market, and rising incomes is creating a perfect storm for the housing market in Ivory Coast. The middle class is not just growing in numbers but also in purchasing power, driving the demand for quality homes.
Sources: Oxford Business Group, Ipsos
7) The government is working to reduce the housing deficit, which boosts real estate development
The government is keen on tackling the housing deficit and boosting real estate development.
Back in 2017, Côte d'Ivoire faced a shortage of about 600,000 housing units, and this gap has been widening by 40,000 to 50,000 units each year. This growing need underscores the urgency for more housing options.
To combat this, the government rolled out the Presidential Program for Social and Economic Housing (PPCLSE), aiming to create 150,000 new homes by 2025. This plan is a key part of their strategy to make housing more affordable and improve living conditions for many.
International players like the International Finance Corporation (IFC) are jumping in to help, bringing in private sector investment and expertise to support these housing efforts.
Moreover, the government is pushing for public-private partnerships (PPPs) to develop mixed-income housing. These partnerships are designed to lure private developers who can design, finance, build, and maintain housing projects.
This strategy not only helps shrink the housing deficit but also fosters a supportive environment for real estate investors, encouraging more development.
Sources: IFC, Climate Business Africa, Apivirine Ventures
8) The country's natural resources boost economic growth and drive real estate demand
Ivory Coast is a treasure trove of natural resources fueling its economic growth and real estate demand.
As the world's largest cocoa producer, Ivory Coast's economy thrives on this crop, with cocoa exports playing a pivotal role. The sector is expected to flourish even more in the coming years, thanks to favorable conditions. This stability in the cocoa industry not only boosts the economy but also creates a ripple effect, increasing the demand for housing as more people flock to urban centers for opportunities.
Oil and natural gas reserves are another feather in the country's cap. The offshore Baleine field is a significant asset, with plans to ramp up oil production by 2028. This attracts foreign investors, leading to economic growth and a surge in real estate demand as infrastructure and workforce expand to accommodate this boom.
The mining sector, especially gold and manganese, is also a magnet for foreign direct investment. Recent discoveries of major gold deposits have boosted the sector's export contributions, further supporting economic growth. This influx of investment and job opportunities in urban areas naturally leads to a higher demand for housing.
Infrastructure development is a game-changer. Government initiatives to enhance roads and ports are improving connectivity, making it easier for people and goods to move around. This not only supports real estate growth but also makes various regions more attractive for investment.
With these resources and developments, Ivory Coast is becoming a hotspot for real estate investment, driven by its rich natural resource base and strategic economic initiatives.
Sources: Coface, MSGB Oil Gas and Power, Real Estate Market Blog
We made this infographic to show you how property prices in Ivory Coast compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
9) With healthcare improving, Ivory Coast’s residential areas are becoming more attractive
Ivory Coast's healthcare sector is booming, making residential areas more appealing.
Thanks to increased government investment, the healthcare infrastructure is getting a major facelift. The government is on track to allocate 10% of its total budget to health by 2025, with a long-term goal of 15%. This means more clinics are popping up, and existing ones are getting a much-needed upgrade.
There's a construction boom in healthcare facilities, with plans to build hundreds of new hospitals and health centers. A significant boost comes from a EUR 171 million deal that's fueling these developments, making healthcare more accessible across the country.
Technology and services are also getting a boost. The government is tackling issues like staff shortages by hiring thousands of healthcare professionals and upgrading medical equipment. This has made healthcare services not just more accessible but also of higher quality.
International partnerships are playing a big role too. Collaborations with groups like EIFO and Standard Chartered are expanding the healthcare infrastructure, making it easier for people to access services. Now, more people live within a short distance of healthcare facilities, which is a game-changer for many.
All these improvements are driving up demand for housing near healthcare facilities. The real estate market is buzzing, with property values rising in areas with top-notch healthcare. People are showing a clear preference for living close to these services, making these areas hot spots for residential interest.
Sources: EIFO, Oxford Business Group, Ipsos
10) With a young population, there will be a steady demand for housing
Ivory Coast is a country with a remarkably young population.
With a median age of just 18.9 years, a significant portion of the population is under 25, highlighting a youthful demographic. This youthful energy is palpable in the bustling streets and vibrant communities, where young people are shaping the future.
The country also boasts a high fertility rate of 4.68 children per woman, which means the young population is steadily increasing. As these young individuals grow up and start families, the demand for housing is expected to rise, creating opportunities for property investment.
Urbanization is on the rise, with a growth rate of 3.421% in 2023, indicating that more people are moving to cities for better opportunities. This urban migration is a key driver of increased housing demand in urban areas, where the hustle and bustle of city life attracts many.
In cities like Abidjan, the economic hub, the influx of young professionals and families is transforming neighborhoods and creating a dynamic real estate market. The vibrant urban landscape offers a mix of modern amenities and cultural richness, appealing to both locals and expatriates.
Investing in property here means tapping into a market with a promising future, driven by a young and growing population eager to make their mark. The potential for long-term growth in the housing sector is significant, making it an attractive prospect for investors.
Sources: World Population Review, Trading Economics
11) The CFA franc's stability lowers currency risk for investors in Ivory Coast
The CFA franc is stable because it's pegged to the euro.
From 2015 to 2019, Côte d'Ivoire enjoyed low inflation, averaging 0.8%. Although there was a spike in 2022, inflation is now trending downwards, hitting 4.3% in 2023 and expected to drop further in the coming years. This helps keep the currency steady.
The Central Bank of West African States, or BCEAO, has been key in maintaining this stability. They’ve been smart with their monetary policy, adjusting interest rates to manage inflation while still supporting economic growth. This balance is crucial for currency stability.
Another plus is the CFA franc's low volatility against major currencies. In fact, it even appreciated against the US dollar in 2023. This kind of stability is a big draw for investors.
For anyone considering buying property in the region, this means less currency risk. The CFA franc's stability makes it a safer bet, especially when compared to more volatile currencies.
So, if you're thinking about investing in Côte d'Ivoire, the predictability of the CFA franc is a major advantage. It’s a currency that doesn’t throw surprises, thanks to its euro peg and the careful management by BCEAO.
Sources: Wikipedia, Afreximbank, World Bank
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12) Political stability in the country draws foreign investors to its real estate market
Ivory Coast is experiencing consistent GDP growth, especially in 2023, signaling a stable economy.
Since President Alassane Ouattara took office in 2011, the country has seen improved political stability, as noted by international organizations. This stability is a magnet for foreign investors, as it minimizes the risks of political unrest. The German Federal Ministry for Economic Cooperation and Development highlights these positive changes.
Foreign direct investment (FDI) is on the rise, with a notable increase in 2023. This uptick shows growing confidence among international investors in Ivory Coast's political and economic climate. The surge in FDI underscores the country's appeal as a stable investment destination.
The real estate market is booming, with rising property prices in major cities like Abidjan. This growth is expected to continue, fueled by a young and expanding population. Such dynamics naturally draw more foreign investors into the market.
Government policies and reforms, including favorable macroeconomic conditions and low interest rates, make the real estate sector even more attractive to foreign investors. These factors create a fertile ground for investment opportunities.
With a politically stable environment, Ivory Coast is becoming a hotspot for foreign investors looking to tap into its thriving real estate market. The country's economic and political landscape offers a promising outlook for those considering property investments.
Sources: CEIC Data, CEIC Data, Statista, BMZ
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.