All sources have been thoroughly verified for credibility. Furthermore, a local real estate expert has reviewed and approved the final article.
Yes, the analysis of Nouakchott's property market is included in our pack
Considering buying a nice property in Nouakchott? You're not alone!
Many people are fascinated by Nouakchott's West African allure and dream of owning a modern apartment or a traditional villa in this city.
Would it be a smart investment, though? Are property prices increasing in Nouakchott? What is the current trend? Should I buy property in Tevragh Zeina or Teyarett? Are there any secret taxes? Where are the best rental yields?
We've solved it for you.
At TheAfricanvestor, we know this market inside and out. As a matter of fact, we've organized all our findings in a pack. Get it now.
In the lines below, we'll provide you with helpful information.
How is the real estate market in Nouakchott?
How is the property market performing? Let's rely on data and figures to find out.
Types of properties
In Nouakchott, you can find various types of properties for sale, including apartments, houses, villas, and land.
Apartments offer compact living spaces, often within multi-story buildings, suitable for individuals or small families. Houses and villas provide more spacious and independent living options, with private outdoor areas.
Land is available for those interested in building their own homes or commercial ventures.
Each type of property offers different features and sizes to cater to a range of preferences and needs.
Buy or rent?
(If you're purchasing for personal use and not for renting)
Whether you've already made Nouakchott your home or are considering it for the future, you might be faced with the decision of whether to buy or rent a property.
Without a doubt, it's better to buy if you want to build long-term equity and have more control over your living space.
One data can help us make a decision - the price-to-rent ratio. You can use this number to see how long it will take to recover the property's cost through rental earnings.
According to Numbeo, the property price-to-rent ratio in Nouakchott is around 43.28, which is very high.
In a booming market with rapidly appreciating property values, buying might still make sense despite a high price-to-rent ratio. Is it the case in Nouakchott? We will look at that.
Property prices in Nouakchott
On average, according to the last data from National Statistical Office of Mauritania, purchasing a property in Nouakchott would cost you around $1,950 per square meter.
Clearly, there is a substantial range. The value of a square meter for a house in Nouakchott might differ from a suburban property. You'll get a more detailed in our pack for buying property in Nouakchott and in Mauritania.
To give you a better idea, it is 10 times less than the property prices in the center of New York.
Also, housing prices in Nouakchott are cheaper (-21%) than in Dakar.
The most expensive neighbourhoods in Nouakchott are probably Teyarett and Dar Naim, while the cheapest are likely to be the outskirts of the city.
Trends
First and foremost, we have to acknowledge that Mauritania is currently a highly vulnerable country. The last Fragile State Index that has been reported for this place is 87.9.
It is something to have in mind when wondering whether it's a good investment to buy a property in Nouakchott.
If we look at the IMF’s forecasts, we can see that Mauritania's economy is expected to soar by 22.5% in the coming 5 years, resulting in an average GDP growth rate of 4.5%.
If you intend to invest in real estate in Nouakchott it's a good thing because when the economy grows, people often experience an increase in wealth, it typically translates to a surge in housing costs.
Also, in Mauritania, the average GDP per capita has changed by 1.4% over the last 5 years. Though not substantial, there is still a positive trend of growth.
According to this data point, property prices in Nouakchott might go higher in 2024 and also later on.
Looking for more updated data? We've done a big-picture study to find out if it's a good idea to purchase property in Mauritania right now.
Buying property in Nouakchott
Buying real estate in Nouakchott is challenging due to a lack of reliable and up-to-date information. That's why we have created the pack to buy property in Nouakchott and in Mauritania.
Buying process
Within our pack, we have outlined the complete buying process. This includes the necessary documents, the applicable taxes, as well as information about where to locate properties, and more.
Here, we are providing you with a simpler version to assist you in better comprehending the information.
This is the step-by-step process to purchase a property in Nouakchott:
- Research the property market in Nouakchott, Mauritania.
- Find a reliable real estate agent familiar with the local market.
- Review property listings and visit potential properties in Nouakchott.
- Negotiate the price with the seller, considering local market trends.
- Hire a notary to draft the "Acte de Vente" (sales agreement).
- Ensure the property's legal status, including verifying the "Certificat d'Urbanisme."
- Obtain a "Certificat de Conformité" from the City Hall (Mairie) in Nouakchott.
- Pay the registration fees and property transfer taxes required by the government.
- Sign the sales agreement before the notary and pay the initial deposit.
- Pay the remaining purchase price within the agreed timeframe.
- Register the property with the Land Registry (Conservation Foncière) in Nouakchott.
- Receive the final property deed (Titre Foncier) from the notary, completing the purchase process in Nouakchott, Mauritania.
Also, if you're not from the country, you might want to check our article on how to buy property as a foreigner in Mauritania.
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Where to find a property
Explore these websites to find properties in Nouakchott:
- Realigro - Realigro is a worldwide real estate search engine that lists properties for sale in Mauritania, including options in cities like Nouakchott and Nouadhibou.
- Expat - Expat.com is a platform for the expat community, providing services such as real estate listings, job opportunities, and forums in Mauritania.
Also, know that we have included contacts of real estate agencies, property lawyers, moving companies, expats communities and more in our pack for buying property in Mauritania.
Which properties for which budget?
As mentioned before, the average price per sqm in Nouakchott is $1,950. A one-bedroom property with 60 square meters would cost around $117,000, and a two-bedroom with 85 square meters would be about $166,000.
However, as you can guess, property prices will differ based on the attributes of the property and its specific location.
Expect property prices to be on the higher side in the premium areas of Nouakchott. An apartment in Tevragh Zeina might be around $220,000, while a house in Ksar could cost about $340,000.
However, some places cost less. You can come across an apartment in Sebkha for $60,000 or an apartment in Arafat that's priced at $50,000.
We give a more detailed pricing list in our full pack for buying property in Mauritania.
Common mistakes
Here are the main pitfalls when buying a property in Nouakchott, Mauritania:
- Customary land tenure practices leading to unclear ownership rights.
- Prevalence of informal settlements with no formal legal recognition.
- Saharan climate challenges, like sand encroachment and erosion risks.
- Limited access to mortgage loans for non-citizens.
- Presence of squatters and encroachments on properties.
- Potential mineral rights conflicts affecting property use.
- Complex foreign investment regulations and restrictions.
- Vulnerability to political instability impacting property values.
We don't want this to happen to you, so we have included a full checklist for your property investment in our pack of documents. Avoid these mistakes and save a lot of money.
Everything you need to know is included in our Mauritania Property Pack
Living in Nouakchott
Living in Nouakchott is an exciting adventure, offering a unique blend of cultural and modern experiences, making it an ideal place to purchase a home.
Cost of living
The cost of living in Nouakchott is generally considered to be lower than in most Western countries. Prices for basic goods and services are generally lower than elsewhere in the world, while housing costs tend to be higher.
Here are some examples to better understand the cost of living in Nouakchott, Mauritania:
- Elghaba (traditional Mauritanian tea): $3 for a pot at a local teahouse.
- Rent for a one-bedroom apartment in Tevragh Zeina neighborhood: $400/month.
- Grilled lamb with couscous (national dish) for two at a local eatery: $30.
- 1.5-liter bottle of Gazeuse (sparkling mineral water): $1 at a supermarket.
- Electricity bill for an 85m² apartment using SOMELEC (Mauritania Electric Company): $50/month.
- Monthly membership at Oasis Fitness Club: $50.
- Ticket to a Mauritanian film at a local cinema: $7.
- Cup of atay na na'na (mint tea with lemon) at a tea stall: $2.
Neighbourhoods
We want to show information in an easy-to-understand way. So, we made a table that lists all the different areas in Nouakchott. For yields, prices and rents, check our property pack.
| Neighborhood | Description | Strengths | Weaknesses |
|---|---|---|---|
Tevragh Zeina | Tevragh Zeina is a modern and affluent neighborhood with upscale residences, commercial centers, and a vibrant nightlife. | High-end residential options, shopping and entertainment, lively atmosphere. | Higher cost of living, traffic congestion during rush hours. |
El Mina | El Mina is a historic district with traditional architecture, bustling markets, and a significant port. | Cultural heritage, vibrant markets, proximity to the port. | Limited modern amenities, some areas may lack proper infrastructure. |
Teyarett | Teyarett is a residential area with a mix of housing types, providing a relatively calm living environment. | Varied housing options, quieter atmosphere. | Limited commercial activity, longer commute to the city center. |
El Ksar | El Ksar is a lively neighborhood known for its markets, shops, and vibrant street scenes. | Colorful street markets, local shopping, active street life. | Busy and crowded, limited green spaces. |
Sebkha | Sebkha is a suburban area with a mix of residential and commercial zones, offering a more relaxed living environment. | Residential tranquility, potential for larger properties. | Less developed infrastructure, longer commute to the city center. |
Arafat | Arafat is a popular neighborhood with a diverse population, local markets, and various amenities. | Community diversity, affordable shopping, good local services. | Some areas may lack proper maintenance, traffic during rush hours. |
El Mina Extension | El Mina Extension is an expanding area with new housing projects, offering affordable residential options. | Affordable properties, potential for growth. | Less developed infrastructure, longer commute to the city center. |
El Mina Sur | El Mina Sur is a developing neighborhood with a mix of residential and commercial areas, catering to a growing population. | Varied housing options, potential for development. | Less developed infrastructure, limited amenities. |
Sebkha Extension | Sebkha Extension is an expanding area with new residential developments and emerging commercial activity. | Potential for growth, affordable properties. | Less established neighborhood, limited amenities. |
El Mina North | El Mina North is a residential neighborhood with a mix of traditional and modern homes. | Varied housing options, relatively calm atmosphere. | Limited commercial activity, longer commute to the city center. |
Riyad | Riyad is a growing area with new developments, offering a mix of residential and commercial properties. | Potential for growth, affordable housing. | Less established infrastructure, limited amenities. |
El Mina West | El Mina West is a residential neighborhood with a mix of housing types, catering to different income groups. | Diverse housing options, relatively calm atmosphere. | Limited commercial activity, longer commute to the city center. |
Sebkha North | Sebkha North is a developing neighborhood with a mix of residential and commercial areas. | Varied housing options, potential for development. | Less developed infrastructure, limited amenities. |
Basra | Basra is a bustling neighborhood with a mix of commercial and residential areas, known for its markets and local businesses. | Colorful markets, affordable shopping, local ambiance. | Busy and crowded, limited green spaces. |
Life in Nouakchott
Nouakchott is the economic hub of Mauritania. The economy is heavily dependent on the export of iron ore, but there is also a growing service and tourism sector.
What expats usually like the most in Nouakchott is the relaxed atmosphere and the friendliness of the locals. They also enjoy the various cultural activities, such as the weekly music and dance festivals.
Access to healthcare in Nouakchott is generally limited and of low quality, with many people relying on traditional medicine.
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Renting out in Nouakchott
This section is for you if you want to buy property solely for renting out and earning income.
Long-term
Tenant Profiles in Nouakchott
If you decide to buy and rent out to long-term tenants, you should target middle-class expats, civil servants, and local business owners. For short-term rentals, tourists and seasonal workers are the main target.
Here is a little summary table we've made for you.
| Property type and area | Profiles of potential tenants | What they are looking for | Expected monthly rent in $ |
|---|---|---|---|
Apartment in Tevragh Zeina | Expats, professionals | Modern amenities, central location | $500 - $1000 |
House in Ksar | Families, locals | Spacious, family-friendly area | $600 - $1200 |
Apartment in Teyarett | Students, young professionals | Close to universities, affordable | $300 - $600 |
Condo in El Mina | Expats, retirees | Luxurious amenities, expat community | $800 - $1500 |
Apartment in Dar Naim | Young professionals, students | Close to public transport, affordable | $200 - $400 |
House in Sebkha | Families, locals | Suburban living, tranquility | $500 - $1000 |
Apartment in El Mina | Expats, professionals | Quiet area, good amenities | $400 - $800 |
Rental yields
As of today, rental yields in Nouakchott are floating around 2 or 3%. It's low. Among other things, this low performance can be explained by Nouakchott's limited rental market, which is not sufficient to generate high rental yields.
The best rental yields in Nouakchott are typically found in properties close to the city center, as these areas offer easy access to amenities and attract more tenants. Additionally, residential properties with multiple units tend to have higher rental yields due to the potential for a higher number of tenants.
For further explanation and a more detailed breakdown, you can check the reports and analyses we have made.
Short-term
You could also decide to rent short-term to expatriates, business travelers, and tourists visiting Nouakchott. Additionally, you may find potential tenants in the form of university students, military personnel, and other professionals temporarily residing in the city.
If you decide to go with that option, look for properties in Nouakchott's coastal neighbourhoods, such as Teyaret, El Mina, and El Mina Nord. These areas offer a variety of rental options, giving you the chance to make the most of your investment.
Is it worth buying real estate in Nouakchott then?
Buying property in Nouakchott, Mauritania, is a decision that hinges on your specific circumstances and investment goals. In some cases, it can be a worthwhile choice.
If you're planning to make Nouakchott your long-term home and value stability, buying a property makes sense. It provides you with control over your living space and shields you from rent hikes and lease uncertainties.
Additionally, the relatively lower property prices in Nouakchott, compared to major international cities, can make it an affordable option. Moreover, the country's forecasted economic growth could potentially lead to increased property values, offering an investment opportunity.
However, be cautious of unclear ownership rights, limited access to mortgage loans for non-citizens, and the possibility of political instability affecting property values.
On the flip side, buying property in Nouakchott might not be the right choice if you're planning a short-term stay. Renting could be more practical in such cases, as it avoids the financial commitment and potential hassles of property ownership.
The low rental yields in Nouakchott, around 2-3%, might disappoint those seeking high rental income. Also, be aware of the challenges related to property ownership rights and the historical political instability in the region, which can impact property values. It's crucial to carefully evaluate your personal situation and investment objectives before diving into the Nouakchott property market, ensuring that your decision aligns with your long-term goals and risk tolerance.
Make sure you understand the real estate market in Nouakchott
Don't rush into buying the wrong property in Mauritania. Sit, relax and read our guide to avoid costly mistakes and make the best investment possible.
The content provided here is for informational purposes only and does not imply endorsement or advice. While we strive for accuracy, we do not guarantee the completeness or reliability of the information, including text, images, links, or other elements in this material. Following the content and analyses presented here does not assure specific outcomes. For guidance tailored to your individual circumstances, it is recommended to consult with a professional, such as a lawyer, accountant, or business advisor.