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Thinking about buying a 3-bedroom apartment in Dakar? It’s a vibrant city, but you're probably wondering: is now the right time to buy, or should you wait for prices to drop?
And what about long-term investment—should you look into other neighborhoods like Almadies or Mermoz where property values might appreciate more over time?
In this article, we’ll answer these questions. We know this market well - and we have put all our knowledge in the Senegal Property Pack.
Will property prices increase in Senegal in 2025?
No, property prices in Senegal are not expected to rise significantly in 2025, due to a combination of economic challenges and market conditions.
Backed by our fresh, in-depth market analysis, we’re cautious about the prospects for significant property price growth in Senegal over the next few years.
While there are some positive developments, such as infrastructure improvements and foreign investment, the overall economic environment presents several hurdles that could dampen property price increases.
Signals pointing to a property price increase in Senegal
Here are some factors suggesting prices could increase:
The government’s continued investment in infrastructure projects, such as roads and public transportation, is expected to improve accessibility and attractiveness of certain areas, potentially boosting property values in those regions.
Foreign investment in Senegal’s real estate sector is on the rise, with international developers showing interest in residential and commercial projects, which could drive up demand and prices.
The growing middle class in Senegal is increasing demand for quality housing, which could lead to a gradual rise in property prices, especially in urban areas.
Signals pointing to a property price decrease in Senegal
Here are some factors suggesting prices could fall:
Economic instability, including inflation and currency fluctuations, is affecting consumer purchasing power, making it difficult for many to afford property purchases.
High interest rates are making mortgage financing less accessible, reducing the number of potential buyers in the market and putting downward pressure on property prices.
The supply of new housing developments is outpacing demand in some areas, leading to an oversupply that could result in price reductions to attract buyers.
Political uncertainties and potential policy changes could deter both domestic and foreign investment in the real estate sector, impacting property prices negatively.
The impact of global economic conditions, such as a potential slowdown in key trading partners, could affect Senegal’s economy and, by extension, its real estate market.
Limited access to affordable housing finance options for the average Senegalese citizen continues to be a barrier to homeownership, affecting overall demand.
Environmental challenges, such as coastal erosion and climate change impacts, could affect property values in vulnerable areas, leading to decreased demand and prices.
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If property prices go up in Senegal, how much would they increase by?
If real estate prices in Senegal were to rise in 2025, the increase would likely be around 3% to 7% of their 2024 values.
Typically, real estate in emerging markets like Senegal appreciates by approximately 3% to 7% annually over the long term. However, fluctuations can occur depending on factors such as region, season, and property type.
It means that, if you spot a charming 2-bedroom apartment in Dakar for 50,000,000 CFA today, don't be surprised if it's priced between 51,500,000 and 53,500,000 CFA this time next year.
To give you a better understanding, here is a table that shows 7 types of Senegalese real estate properties, their estimated prices in 2024, and projections for 2025 based on potential price increases of 3%, 5%, and 7%.
| Type of Property | Average Price in 2024 (CFA) | Price in 2025 (3% increase) | Price in 2025 (5% increase) | Price in 2025 (7% increase) |
|---|---|---|---|---|
| Apartment in Dakar (60 sqm) | 50,000,000 CFA | 51,500,000 CFA | 52,500,000 CFA | 53,500,000 CFA |
| Modern Villa (150 sqm) | 150,000,000 CFA | 154,500,000 CFA | 157,500,000 CFA | 160,500,000 CFA |
| Luxury Beachfront Property (200 sqm) | 300,000,000 CFA | 309,000,000 CFA | 315,000,000 CFA | 321,000,000 CFA |
| Studio in Saint-Louis (30 sqm) | 20,000,000 CFA | 20,600,000 CFA | 21,000,000 CFA | 21,400,000 CFA |
| Loft in Saly (80 sqm) | 80,000,000 CFA | 82,400,000 CFA | 84,000,000 CFA | 85,600,000 CFA |
| Townhouse in Thiès (120 sqm) | 100,000,000 CFA | 103,000,000 CFA | 105,000,000 CFA | 107,000,000 CFA |
| Investment Property in Ziguinchor (50 sqm) | 40,000,000 CFA | 41,200,000 CFA | 42,000,000 CFA | 42,800,000 CFA |
Everything you need to know is included in our Property Pack for Senegal
If real estate prices go up in Senegal, which areas are likely to see the biggest increases?
Today, people who want to move to Senegal are looking for a blend of cultural richness and modern amenities, which Almadies offers. Hence, we could see a price increase there in 2025.
Also, lately, there's been a shift toward more youthful, vibrant neighborhoods, and Plateau has really taken off.
We like it when information is clear and easy to digest. So, here’s a table that highlights the areas where prices might rise the most, along with the reasons behind those expected increases. It’s very high-level. If you want more details on a specific area, please check our real estate pack tailored to the Senegalese market.
| Neighborhood | Level of Increase | Why |
|---|---|---|
| Almadies | High | Recent development of luxury housing projects and its increasing appeal to international buyers as travel normalizes post-pandemic, driving demand. |
| Ngor | High | Expected rise due to limited housing stock, upcoming renovations to heritage buildings, and growing demand for prime properties in coastal areas. |
| Mermoz | Medium-High | Ongoing gentrification and new transport links, along with several planned redevelopment projects in the area, are likely to push prices higher. |
| Dakar Plateau | Medium | The shift towards hybrid workspaces is driving demand for residential properties near business districts, combined with new mixed-use developments. |
| Sacre-Coeur | Medium-High | Eco-friendly urban projects and recent construction of new schools and parks are increasing its attractiveness for families, pushing prices upward. |
| Fann | Medium | Investment in local infrastructure, such as the extension of tram lines and renovation of historic areas, is boosting long-term value. |
| Medina | Medium-High | With new cultural and commercial spaces being developed, this trendy neighborhood is seeing increased demand from both residents and investors. |
| Plateau | High | Upcoming large-scale urban regeneration projects and improved public transport access are expected to make this area more desirable. |
| Pikine | Medium-High | Its proximity to Dakar, along with new office and residential developments, makes it increasingly attractive to professionals seeking more space. |
| Hann Bel-Air | Medium | Gentrification and cultural regeneration projects are attracting new residents, leading to rising prices as the area becomes more fashionable. |
| Point E | High | As new luxury developments are launched, demand for premium housing among wealthy buyers is expected to further increase property values. |
| Goree Island | High | Upcoming restoration of historic sites and high-profile cultural projects are driving a renewed focus on this central, historic location. |
If I'm looking to invest in real estate, what types of properties should I focus on for the best value appreciation in Senegal?
In 2025, Senegal's real estate trends focus on tech-smart, energy-efficient apartments, larger homes in suburban areas for families, properties with outdoor spaces, and eco-friendly buildings—all driving higher demand and prices. Here is a summary.
- Tech-Equipped and Energy-Efficient Apartments:
Driven by remote work and sustainability trends, these homes offer smart technology features and energy-saving systems. They cater to young professionals and tech workers, making them a hot commodity in 2025, especially in urban centers like Dakar.
- Family-Sized Homes in Suburban Areas:
With a growing demand for larger living spaces, especially among families, suburban areas near Dakar and other major cities are seeing increased interest. Proximity to green spaces, schools, and community amenities is a major factor driving value.
- Properties with Outdoor Spaces:
Post-pandemic, outdoor spaces like terraces, balconies, or gardens have become highly desirable. In dense urban areas, these features offer a much-needed escape and are likely to drive up property values.
- Eco-Friendly Buildings with Low Carbon Footprints:
Senegal's commitment to sustainability is boosting demand for eco-certified buildings. Buyers are increasingly valuing properties that align with the country's green goals, leading to price appreciation in this category.
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