Authored by the expert who managed and guided the team behind the Mauritania Property Pack
Everything you need to know before buying real estate is included in our Mauritania Property Pack
What do the latest numbers reveal about Mauritania’s real estate market? Are property prices on the rise, or are they stabilizing? Which cities 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 Mauritania, 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.
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1) Nouakchott's average property price rose by 5% in 2024 compared to the previous year
The average property price in Nouakchott increased by 5% in 2024 compared to the previous year.
Nouakchott is buzzing with activity as more people flock to the city for better job opportunities and modern amenities. This influx is driving up the demand for housing and commercial spaces, naturally pushing real estate prices higher.
The government is playing a big role too. By improving infrastructure and making regulations easier to navigate, they've made the real estate market more appealing to investors. This has attracted both local and foreign interest, boosting the market's vibrancy.
Despite some challenges, like affordability, the overall vibe in Nouakchott's real estate scene is positive. The 5% price increase in 2024 is a testament to the city's ongoing development and the strong demand for properties.
For those considering a property purchase, it's worth noting that Nouakchott's growth is steady, driven by urbanization and a rising population. This trend is likely to continue, making it an exciting time to invest.
With the city's development and the government's supportive measures, the real estate market is set for further growth. It's an opportune moment for potential buyers to explore the possibilities.
Sources: Nouakchott Property, Mauritania Property Investment, Nouakchott Real Estate Market
2) Urban property resale values in Mauritania grew by an average of 8% in 2024
In 2024, the resale value of properties in urban Mauritania grew by an average of 8%.
Urban centers like Nouakchott and Nouadhibou are buzzing with activity, thanks to increased urbanization and economic opportunities. As people flock from rural areas, the demand for homes has surged, pushing property values higher. This shift was noticeable in 2023 and has only gained momentum in 2024.
Infrastructure is getting a major facelift with projects like road construction and port development, making cities more appealing to both locals and investors. These upgrades have likely played a big part in boosting property values by making these areas more accessible and attractive.
The government is also stepping up with initiatives to improve the regulatory environment and attract foreign investments. These efforts are likely creating a more inviting climate for investors, which in turn is helping to drive up property values.
With these changes, urban Mauritania is becoming a hotspot for real estate, offering promising opportunities for those looking to invest. The combination of urban growth, infrastructure improvements, and favorable government policies is creating a dynamic market environment.
Sources: Mauritania Real Estate Market, The Evolution of the Real Estate Market in Mauritania, Mauritania Property Investment
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Mauritania. 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) Mauritania's homeownership rate stayed at 45% in 2024
The homeownership rate in Mauritania remained steady at 45% in 2024.
Many people are flocking to cities like Nouakchott and Nouadhibou, drawn by the promise of better jobs and living conditions. This urban migration has boosted the demand for housing, but not everyone can afford to buy, keeping the homeownership rate stable.
The government has tried to improve housing conditions, but limited resources and implementation challenges have made it tough. While these efforts haven't significantly increased homeownership, they might have helped maintain the current rate by offering some support to potential buyers.
Mauritania's economy leans heavily on natural resources, and global commodity prices have a big say in real estate costs. This, combined with high inflation and political instability, has limited the purchasing power of many potential homebuyers.
These economic factors, along with the social dynamics of urban migration, have created a complex housing market. Real estate prices are influenced by both local and global factors, making it challenging for many to step onto the property ladder.
Sources: The Africanvestor, The Africanvestor
4) In 2024, first-time homebuyers in Mauritania averaged 32 years old
In 2024, the average age of first-time homebuyers in Mauritania was 32 years old.
Urbanization played a big role in this trend. Many people were moving from rural areas to cities like Nouakchott and Nouadhibou in search of better job opportunities and living conditions. This shift increased the demand for housing in urban areas.
Young adults, often in their early 30s, were the ones making these moves. They were establishing careers and starting families, which made 32 a common age to buy a first home. The need to save and plan financially also influenced when they could afford to purchase.
As cities grew, the demand for housing rose, impacting the age at which people could buy homes. The financial planning required to buy in these urban areas meant that many waited until their early 30s to make the purchase.
These factors combined to set the stage for the average first-time homebuyer in Mauritania to be 32 years old. The urban migration and economic opportunities in cities were key drivers.
In summary, the real estate market in Mauritania in 2024 was shaped by urbanization and economic factors, leading to 32 being the average age for first-time homebuyers.
Sources: Mauritania Real Estate Market, Mauritania Property Investment, Mauritania Price Forecasts
5) Building material costs in Mauritania increased by 7% in 2024, affecting property prices
In 2024, the cost of building materials in Mauritania rose by 7%, impacting property prices.
This increase is part of a global trend where construction material costs have been permanently higher due to past economic shocks. According to Oxford Economics, prices in 2024 are at least 15-20% higher compared to 2021. Although specific data for Mauritania isn't available, it's likely that these global trends are influencing local markets.
In Mauritania, the economic environment, including high inflation rates and political instability, plays a crucial role in property prices. Africanvestor reports that these factors could make property prices more volatile, adding to the pressure from rising construction costs.
For those considering buying property in Mauritania, understanding local market dynamics is essential. While Africanvestor offers insights into property prices, rents, and yields, it doesn't specify the 7% increase in building material costs. However, the general trend of rising costs globally and the specific economic challenges in Mauritania suggest that property prices could be affected.
Local market analyses would provide a clearer picture of how these factors are playing out in Mauritania. The combination of global trends and local economic conditions could mean that property prices are more susceptible to fluctuations.
Sources: Oxford Economics, Africanvestor, Africanvestor
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6) In 2024, the average annual property insurance cost in Mauritania was $200
The average annual property insurance cost in Mauritania was $200 in 2024.
To understand this, consider the Mauritanian insurance market's broader context. In 2022, the market had a turnover of 466 million MRU, roughly $12.5 million USD. This marked a 5.2% growth in premium volume compared to 2021, showing some positive movement.
Despite this growth, the non-life insurance sector, which includes property insurance, is still quite small. Back in 2016, the total gross written premiums were MRU 8.10 billion, indicating that the market is still developing.
There are 17 players in the local insurance market, including one foreign company and a health mutual. This competitive environment could influence pricing strategies, potentially keeping costs like property insurance at a moderate level.
Sources: Atlas Magazine, Axco Info
7) Construction made up 10% of Mauritania’s GDP in 2024
In 2024, the construction sector contributed 10% to Mauritania's GDP, marking its importance in the economy.
This growth was fueled by a 5% increase in construction activities, especially in building roads and public infrastructure. Such projects not only improved connectivity but also created jobs, enhancing the overall economic landscape of Mauritania.
According to the World Bank data from 2023, the industry, including construction, made up 30.59% of the GDP. It's crucial to understand that this figure includes all industrial activities, but construction was a major player in maintaining this substantial share.
While the IMF reports didn't specify the exact percentage for construction's GDP contribution in 2024, the sector's growth was evident. The increased construction activities were a key driver of economic development during this period, reflecting its significant impact.
For those considering investing in property, this boom in construction suggests a promising environment. The sector's expansion indicates a strong foundation for future growth, making it an attractive prospect for potential buyers.
Sources: World Bank Data, Mauritania Economic Profile, IMF Report
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.