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
What is happening in Ivory Coast’s real estate market? Are prices on the rise or decline? Is Abidjan still a prime location for international investors? How is the Ivorian government shaping real estate policies and taxes in 2025?
These are the questions we hear every day from professionals, buyers, and sellers across the country, from Yamoussoukro to San Pedro and beyond. You might be curious about these trends too.
We understand this because we maintain close connections with local experts and individuals like you, exploring the Ivorian real estate market daily. That’s why we crafted this article: to deliver clear answers, insightful analysis, and a comprehensive view of market trends and dynamics.
Our aim is straightforward: to make sure you feel informed and confident about the market without needing to search elsewhere. If you think we missed the mark or could improve, we’d love to hear your thoughts. Feel free to message us with your feedback or comments, and we’ll strive to enhance this content for you.
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1) Rents in coastal areas will drop as environmental concerns reduce their desirability
Coastal areas in the Ivory Coast are facing serious environmental challenges that are making them less appealing.
One major issue is the rising sea levels, which are expected to increase significantly by 2100. This rise is causing more frequent and severe coastal erosion, with some beaches receding by 1-2 meters each year. This erosion is particularly evident in areas like Grand-Lahou and Abidjan, where the destruction of beaches is becoming a major concern.
Frequent flooding is another problem, especially in places like Grand-Bassam and Assinie. Back in August 2011, floods washed away parts of roads and tourist spots, leading to big financial losses. Such events not only damage property but also deter potential renters who are concerned about the safety and stability of living in these areas.
Saltwater intrusion is also a growing concern, particularly affecting the Abidjan aquifer. This problem, worsened by rising sea levels and poor waste management, threatens freshwater supplies and increases the risk of waterborne diseases. This makes these areas less attractive to live in.
All these environmental issues are likely to lead to a decline in rental demand as people look for safer and more stable places to live. The combination of rising sea levels, flooding, and saltwater intrusion is pushing potential renters to reconsider their options.
Sources: L’Atlas Bleu / Living, Interactive Country Fiches, FAO
2) Abidjan rents will rise as population grows and housing supply remains limited
Abidjan is experiencing a notable population boom.
People are flocking to the city, drawn by urbanization, and this trend shows no signs of slowing down. Abidjan is a hotspot for newcomers, with the population expected to surpass 6 million by 2025. This influx is reshaping the city, making it a vibrant hub of activity and opportunity.
But here's the catch: the housing market is struggling to keep up. The African Development Bank points out a massive shortfall of affordable housing, predicting a shortage of 600,000 units by 2025. This gap is particularly pronounced in Abidjan, where the demand for homes is skyrocketing.
Despite the city's economic growth, the real estate sector isn't building enough new homes. The number of new dwellings each year is insufficient to meet the rising demand, which is putting pressure on the housing market. This imbalance is a major reason why rents are climbing.
For those considering buying property, it's crucial to understand that the limited housing supply, combined with the growing population, is pushing rents higher. This trend is expected to continue as more people move to the city, seeking better opportunities.
Investing in Abidjan's real estate could be a smart move, given the city's ongoing transformation and the increasing demand for housing. However, potential buyers should be aware of the challenges posed by the current housing shortage.
Sources: Macrotrends, Oxford Business Group, World Population Review
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Ivory Coast. 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) Local investors becoming more active will increase competition for foreign buyers in the market
The real estate market in Ivory Coast is experiencing significant growth driven by local demand.
Urbanization and economic growth are key factors, especially in bustling cities like Abidjan, where a burgeoning middle class is fueling the market. This demographic is eager to invest in property, seeing it as a way to build wealth. The government has also stepped in, making it easier for locals to access financing with low interest rates and favorable mortgage conditions.
Since the Investment Code was enforced in October 2018, local investors have been more active, thanks to tax exemptions for certain economic activities. This has made real estate projects more attractive, encouraging more people to dive into the market. The increased availability of financing options has also played a crucial role in this shift.
As more young adults enter the workforce and start families, the demand for housing is rising. This is creating a competitive environment where local real estate development projects are increasingly targeting domestic buyers. The market is evolving, with a clear focus on catering to the needs of the local population.
Foreign buyers will face more competition as local investors become more active, driven by these favorable conditions. The market is becoming more dynamic, with locals seeing real estate as a viable investment opportunity. This shift is reshaping the landscape, making it an exciting time for those looking to invest in Ivory Coast.
Sources: Statista, Africanvestor, PwC Tax Summaries
4) Foreign buyers will increasingly target Abidjan's luxury market for its political stability and economic growth
Foreign buyers are increasingly eyeing Abidjan's luxury real estate market due to its political stability and economic growth.
Ivory Coast has been on a roll with its economy, showing a steady rise in GDP growth rates. Back in 2015, the country saw an impressive 8% GDP growth, and this upward trend is expected to continue into 2025. This economic boom is boosting consumer confidence and giving potential homebuyers in Abidjan more purchasing power.
Foreign Direct Investment (FDI) in the country has also been on the rise, making up 2.2% of the country's Nominal GDP as of December 2023. This uptick in FDI is a clear sign that international investors are taking notice, often indicating a stable and promising economic environment. The African Development Bank's move to bring its headquarters back to Abidjan in 2013 further highlights the political stability that is drawing in foreign investment.
Abidjan is gaining a reputation as a growing economic hub, catching the attention of international media and attracting more foreign travelers and investors. Property values in Abidjan’s luxury real estate market are on the rise, with projections showing an increase of 3% to 7% by 2025. This reflects the city's economic growth and urban development efforts.
Infrastructure development is also playing a big role in making Abidjan more appealing to foreign investors. Projects like the construction of the fourth bridge and urban highways are enhancing connectivity and accessibility, making the city even more attractive. These developments are part of the reason why Abidjan is becoming a hotspot for foreign investment.
With all these factors in play, it's no wonder that foreign buyers are showing increased interest in Abidjan's luxury market. The combination of political stability, economic growth, and urban development is creating a perfect storm for investment opportunities.
Sources: UN Africa Renewal, African Development Bank, Price Forecasts
5) Urban centers will see increased demand for mid-range housing as the middle class expands
The middle class in Ivory Coast is rapidly expanding, fueling demand for mid-range housing in cities.
Thanks to strong economic growth, this demographic is thriving, with the African Development Bank noting GDP growth rates of 7.2% in 2023 and 7.0% in 2024. This economic boost is largely due to increased investment and consumption from the middle class, who are eager to improve their living standards.
Urbanization is also a big player here. Cities like Abidjan are experiencing rapid population growth, with urbanization rates climbing steadily. By 2025, Abidjan's population is expected to hit 6.7 million, up from 5.5 million in 2022. This influx of people into urban areas naturally increases the demand for housing, especially in the mid-range segment that appeals to the middle class.
Consumer preferences are shifting too. Surveys show a clear preference for mid-range housing, and the real estate market in Abidjan has been growing at an impressive rate of around 18% per year since 2011. This growth is largely driven by the demand for affordable yet quality housing options that cater to the needs of the middle class.
In Abidjan, the real estate scene is buzzing. The city is a hotspot for new developments, with many projects targeting the middle class. These homes offer a balance of affordability and quality, making them highly attractive to buyers looking for a step up from basic housing.
As the middle class continues to grow, so does their influence on the housing market. They're not just looking for a place to live; they want homes that reflect their aspirations and lifestyle. This trend is reshaping urban centers, with developers keen to meet the demand for mid-range housing.
Sources: African Development Bank, Oxford Business Group
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6) Daloa will attract more residential investments as agricultural advancements enhance the local economy
Daloa is becoming a hotspot for residential investments, thanks to major agricultural advancements boosting the local economy.
In 2023 and 2024, the Ivorian government poured resources into agricultural infrastructure, like canals and irrigation systems, which have significantly improved rice yields. This has led farmers to embrace better land management, resulting in a noticeable productivity boost.
With these changes, rice production in Côte d'Ivoire is expected to hit 1.2 million metric tons in the 2024/25 marketing year, a five percent jump from the previous year. This surge in agriculture has fueled a 6.5 percent rise in the Ivorian economy's output in 2024, driven by strong private consumption and investment.
The economic upswing has improved trade terms, benefiting local farmers with higher income levels. This prosperity is mirrored in the rising property values in Daloa, making it a prime spot for residential investments.
The government's push to increase mechanization by 30 percent by 2025 supports sustainable agriculture, promising continued economic growth and investment opportunities. This initiative is set to further enhance the region's appeal to potential property buyers.
As the agricultural sector grows, it could boost export volumes, further strengthening the local economy. This economic vitality is a key factor in making Daloa an attractive destination for those looking to invest in property.
Sources: USDA Report, IMF Report, Trading Economics
7) Rural-to-urban migration will keep driving housing demand in major cities
Rural-to-urban migration is reshaping housing demand in Ivory Coast's major cities.
In 2021, over half of the Ivorian population lived in urban areas, a big jump from just 32% in 1975. This shift shows a strong trend of people moving from the countryside to cities, looking for better jobs and living conditions. Abidjan, the largest city, is a prime example of this trend, with its population more than doubling from 1998 to 2021.
Abidjan's population density hit 2,954 people per square kilometer in 2021, putting a strain on housing and infrastructure. This rapid urban growth is largely due to economic opportunities that are concentrated in urban areas, drawing people from rural regions. Ongoing infrastructure projects in cities like Abidjan are a magnet for even more people, as they promise improved living conditions and job prospects.
These projects are not just about building more homes; they aim to make cities more livable and sustainable. The housing market in Ivory Coast is feeling the heat, with demand soaring. This situation calls for a fresh look at construction methods to ensure homes are climate-resilient. Urban planners are rethinking how to build in a way that withstands climate challenges, which is crucial as more people flock to cities.
For potential property buyers, this means a bustling market with lots of opportunities but also challenges. The influx of people is likely to keep pushing housing demand up, making it a dynamic environment for investment. Understanding these trends can give buyers an edge in navigating the market.
Sources: Global Development Blog, City Population
8) Better road networks in interior regions will boost their appeal for residential investments
Improved road networks in Ivory Coast's interior regions are making these areas more appealing for residential investments.
In 2023, the Ivorian government poured a hefty EUR 3.9 billion into road infrastructure, underscoring their dedication to better connectivity. This is part of a larger plan, including the 6th Road Maintenance Program, which earmarks 600 million EUR for road upgrades. The expansion of the highway network from 140km to 400km and the increase in surfaced roads from 8,100km to 9,500km by 2025 are expected to significantly cut travel times between major cities and interior regions.
These improvements mean shorter travel times, making the interior more accessible and convenient for potential residents. This ease of access is a major draw for residential investments. Improved road access is also expected to boost property values in areas that were once hard to reach. While specific data on property value increases isn't available, it's a common trend when infrastructure gets a facelift.
The transformation of the transport network has already sparked more real estate developments. The national road system has grown from 25,000km to 82,000km, paving the way for more real estate investments. This expansion is a game-changer, making previously overlooked regions ripe for development.
With better roads, these areas are not just more accessible but also more attractive for living, working, and investing. The improved infrastructure is a catalyst for growth, drawing in new residents and investors alike. The government's commitment to enhancing road networks is a clear signal of the potential for residential growth in these regions.
Sources: Capmad, World Highways
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Ivory Coast 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) Environmental efforts against coastal erosion will affect property values in impacted areas
Environmental initiatives to combat coastal erosion can significantly impact property values in affected areas.
In recent years, places like Benin, Ivory Coast, Senegal, and Togo have faced substantial economic losses due to coastal erosion. Back in 2017, these losses were pegged at $3.8 billion, underscoring how erosion can drag down property values. But there's a silver lining. In Ghana, efforts like building breakwaters and seawalls have shown that mitigation can protect property values by reducing erosion risks.
These initiatives are not just about saving land; they’re about boosting the economy. Digital Earth Africa suggests that tackling coastal erosion could bring in socio-economic benefits of around $580 million annually. This isn't just good news for real estate; it also positively impacts agriculture and fisheries, making these areas more appealing for investment.
Ivory Coast is taking a proactive approach with its national climate plan, aiming to cut greenhouse gas emissions and bolster resilience. This plan is expected to positively impact property values by addressing erosion risks head-on. It's a win-win, as insurance companies in West Africa are also seeing benefits, with reduced losses translating into significant profits.
These successful environmental initiatives are making properties more attractive to buyers. By increasing safety and reducing potential damage risks, they’re turning once-vulnerable areas into safer investments. This shift is crucial for anyone considering buying property in these regions, as it highlights the potential for increased property value and security.
For those eyeing property in coastal areas, understanding these initiatives is key. They not only protect the land but also enhance its value, making it a smart move for future homeowners. The ripple effect of these efforts is clear: safer, more valuable properties in areas once threatened by erosion.
Sources: Digital Earth Africa, World Bank, Global Covenant of Mayors
10) Korhogo will attract more investors for its strategic trade location with neighboring countries
Korhogo is catching the eye of investors because it's perfectly positioned for trade with nearby countries.
In recent years, Ivory Coast has ramped up its trade activities, and the UK's trade with the country is expected to grow by 15.6% in 2024. This shows a strong emphasis on trade, which is a big part of the Ivorian economy. The government is keen on boosting trade infrastructure, especially in cities like Korhogo.
Through plans like the National Development Plan and Vision 2030, the Ivorian government is working hard to improve connectivity and reduce regional disparities. One major project is the World Bank's $300 million Sustainable and Inclusive Secondary Cities Project, which aims to develop urban infrastructure in cities, including Korhogo.
Korhogo's northern location in Ivory Coast makes it a key hub for trade with neighboring countries. The World Bank's project is set to enhance connectivity and trade infrastructure in this area, likely drawing more investment. Local industries are also on the rise, with exports like cocoa and natural rubber boosting trade potential in Korhogo.
Investors are taking note of Korhogo's strategic position and the government's efforts to bolster trade infrastructure. The city's proximity to borders and growing local industries make it a promising spot for future trade activities. With these developments, Korhogo is poised to become a significant player in regional trade.
As the Ivorian government continues to focus on improving trade routes and infrastructure, Korhogo's appeal to investors is only set to increase. The combination of strategic location and government support makes it an attractive option for those looking to invest in the region.
Sources: UK Trade and Investment Factsheet, Foreign Trade Figures of the Ivory Coast, Sustainable and Inclusive Secondary Cities Project
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.