Authored by the expert who managed and guided the team behind the Tanzania Property Pack
Everything you need to know before buying real estate is included in our Republic of the Congo Property Pack
Masaki area in Dar es Salaam presents a strong investment opportunity with significant property price growth of 86% over five years and rental yields averaging 6-8%.
The district offers excellent infrastructure, premium amenities, and high rental demand from expatriates, though investors should consider elevated crime rates and moderate political uncertainty when making investment decisions.
If you want to go deeper, you can check our pack of documents related to the real estate market in Tanzania, based on reliable facts and data, not opinions or rumors.
Masaki remains Dar es Salaam's premier property investment location with strong fundamentals including 86% price growth over five years, solid 6-8% rental yields, and excellent infrastructure connectivity.
While crime rates in the Kinondoni district are elevated and political uncertainty exists ahead of 2025 elections, the area's premium positioning, low vacancy rates, and ongoing development projects make it attractive for property investors.
| Investment Factor | Masaki Performance | Risk Level |
|---|---|---|
| Property Price Growth (5 years) | 86% increase, USD 400k for 3BR | Low |
| Rental Yields | 6-8% annually | Low |
| Vacancy Rate | Under 20% (80%+ occupancy) | Low |
| Crime Rate | Highest in Dar es Salaam (Kinondoni) | Medium |
| Infrastructure Development | BRT expansion, new highways | Low |
| Political Stability | Generally stable, 2025 elections | Medium |
| Zoning Restrictions | 6-storey maximum height | Medium |
Fact-checked and reviewed by our local expert
Grace Makoye 🇹🇿
Manager of Operations, Zinza Real Estate
What has been the property price trend in Masaki over the past 5 years?
Property prices in the Masaki area have experienced remarkable growth, increasing by 86% over the past five years from 2020 to 2025.
This represents an average annual growth rate of 3-7%, making Masaki one of Dar es Salaam's strongest performing property markets. As of September 2025, a three-bedroom apartment in Masaki typically sells for around USD 400,000, reflecting the area's premium positioning in the market.
Residential properties in Masaki command between USD 1,200 to USD 1,500 per square meter for luxury units, significantly higher than other areas in Dar es Salaam. This price appreciation has been driven by limited supply of quality housing, increasing expatriate demand, and ongoing infrastructure improvements in the area.
The strong price growth trajectory positions Masaki as a solid investment choice for property buyers seeking capital appreciation. High-end new developments are currently underway, which may continue supporting price growth in the medium term.
How do rental yields in Masaki compare to nearby neighborhoods?
Rental yields in Masaki average 6-8% annually for apartment properties, which are slightly lower but more stable than emerging districts in Dar es Salaam.
Compared to areas like Mikocheni and Kariakoo, which can offer rental yields up to 9%, Masaki provides more consistent returns with lower vacancy risk. The area benefits from strong demand from expatriate tenants and corporate housing, which helps maintain stable rental income.
Short-term rental properties through platforms like Airbnb have shown particularly strong performance in Masaki, with average occupancy rates around 48% and top-performing listings generating annual revenues exceeding USD 8,000. This presents additional income opportunities for property investors willing to manage short-term rentals.
It's something we develop in our Tanzania property pack.
How high is rental demand in Masaki currently?
Rental demand in Masaki is exceptionally high, driven primarily by expatriates, corporate tenants, and affluent Tanzanian families seeking premium amenities.
The area maintains residential occupancy rates above 80%, indicating very low vacancy rates and strong tenant demand. This high demand is supported by Masaki's reputation as Dar es Salaam's premier residential district, offering superior security, infrastructure, and proximity to international schools and healthcare facilities.
Corporate tenants particularly favor Masaki due to its proximity to major business hubs and the central business district. Many multinational companies house their executives in Masaki properties, providing a stable tenant base for property investors.
The combination of limited high-quality housing supply and consistent demand from high-income tenants creates a favorable rental market environment. Property owners can typically secure long-term tenants relatively quickly, reducing vacancy periods and income disruption.
What is the crime rate in Masaki and how does it compare to other Dar es Salaam areas?
The Kinondoni district, which includes Masaki, has the highest crime rates in Dar es Salaam, with over 2,600 reported cases in 2024.
However, Masaki itself remains significantly safer than lower-income districts within Kinondoni, though it still requires more caution compared to suburban areas like Temeke and Ilala. Most crime incidents in the area relate to theft and property crime rather than violent crimes.
The elevated crime statistics for Kinondoni district are largely driven by higher-density, lower-income areas within the district rather than premium neighborhoods like Masaki. Masaki benefits from better security infrastructure, private security services, and higher police presence due to its affluent status.
Property investors should factor in security costs when calculating returns, as many buildings employ private security guards and residents often invest in additional security measures. While crime remains a concern, proper security precautions can effectively mitigate most risks.
Don't lose money on your property in Tanzania
100% of people who have lost money there have spent less than 1 hour researching the market. We have reviewed everything there is to know. Grab our guide now.
Are there infrastructure projects in Masaki that could boost property values?
Several major infrastructure projects are currently ongoing or planned for the Masaki area, which are expected to significantly boost property values.
The Bus Rapid Transit (BRT) network expansion is improving connectivity between Masaki and other parts of Dar es Salaam, making the area more accessible for commuters. New highway projects and flyover constructions are reducing traffic congestion and travel times to key business districts.
Major commercial developments including Manhattan Garden and Morocco Square are under construction in the broader area, which will add premium retail and office spaces. These projects are expected to increase employment opportunities and attract more businesses to the vicinity.
Road infrastructure improvements, including upgraded intersections and new connecting roads, are enhancing access to Julius Nyerere International Airport and the port area. These transportation improvements make Masaki more attractive to both residents and businesses, supporting continued property value appreciation.
What is the unemployment rate and economic stability in Masaki?
Tanzania's national unemployment rate averages 8.7% as of 2025, while Dar es Salaam shows improving formal employment rates due to ongoing industrialization.
Masaki benefits from a more stable economic environment compared to other areas, with residents typically employed in higher-income sectors including finance, international organizations, and senior management positions. The area attracts expatriate professionals and wealthy Tanzanians, creating a more economically resilient tenant base.
The local economy remains somewhat vulnerable during election periods, as political uncertainty can impact business confidence and investment flows. However, Masaki's premium positioning helps insulate it from broader economic volatility affecting lower-income areas.
Economic stability in Masaki is further supported by its role as home to many diplomatic missions, international NGOs, and multinational company offices. This creates a diverse economic base less dependent on any single industry or economic sector.
What are the vacancy rates for properties in Masaki?
Masaki maintains very low vacancy rates, with prime residential properties achieving occupancy rates above 80% consistently.
This translates to vacancy rates below 20% for residential properties, which is significantly better than the broader Dar es Salaam market. The low vacancy rates reflect strong demand from expatriates, diplomatic staff, and affluent local residents who prefer Masaki's premium amenities and location.
Commercial properties in Masaki also perform better than the city average, though Dar es Salaam's overall commercial market faces some oversupply challenges. Luxury office spaces and retail locations in Masaki maintain better occupancy due to the area's prestigious address and accessibility.
The combination of limited high-quality housing supply and consistent demand from high-income tenants helps maintain these favorable vacancy rates. Property owners can typically expect shorter marketing periods and more reliable rental income compared to other areas in the city.
How accessible is Masaki to major business hubs and transportation?
Masaki offers excellent connectivity and transportation access, making it highly attractive for both residents and property investors.
The driving distance from Masaki to Julius Nyerere International Airport is just 17-20 minutes, providing convenient access for international travelers and expatriate residents. High-frequency taxis, buses, and shuttle services connect Masaki to central business districts and port areas throughout the day.
The expanding BRT network significantly improves public transportation options, allowing residents to commute efficiently to employment centers across Dar es Salaam. New road infrastructure and upgraded intersections have reduced traffic congestion and improved overall connectivity.
This excellent transportation access makes Masaki properties attractive to corporate tenants and expatriate families who need to travel frequently for business. The convenience factor adds significant value to rental properties and supports higher rental rates compared to less accessible areas.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Tanzania 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.
How do property tax rates in Masaki compare to other areas?
Property owners in Masaki pay annual rates of 0.15% for residential properties and 0.20% for commercial properties, calculated on assessed property values.
In addition to percentage-based rates, property owners must pay flat annual charges of TZS 18,000 for single units and TZS 90,000 per floor for multi-story buildings. These rates are higher than smaller Tanzanian towns but reflect Masaki's premium location and superior municipal services.
While property tax rates in Masaki are at the higher end for Tanzania, they remain relatively reasonable compared to international standards and other premium African property markets. The higher taxes typically correspond to better municipal services, infrastructure maintenance, and area development.
Property investors should factor these tax obligations into their return calculations, though the amounts remain modest relative to property values and rental income potential. The stable tax structure provides predictability for long-term investment planning.
How stable is the political environment in Masaki?
Tanzania generally maintains stable governance, though uncertainty exists ahead of the 2025 national elections due to opposition exclusion and media restrictions.
No local unrest has been reported specifically in Masaki, and the area benefits from its status as home to diplomatic missions and international organizations, which tends to ensure greater security and stability. The presence of expatriate communities and high-profile residents also provides additional political stability.
National political developments should be monitored for potential investment risks, particularly regarding property ownership laws and foreign investment regulations. However, Tanzania's general commitment to maintaining foreign investment has remained consistent across different political administrations.
It's something we develop in our Tanzania property pack.
What zoning regulations affect property investment in Masaki?
The Oysterbay-Masaki Redevelopment Plan restricts new constructions to a maximum of six storeys to preserve the area's upscale residential character.
Developers must comply with strict zoning rules that prevent overdevelopment and maintain the premium nature of the neighborhood. Land use is specifically controlled for residential, institutional, and limited commercial purposes, which helps protect property values by preventing incompatible developments.
These zoning restrictions limit the potential for high-density development, which can be viewed as both positive and negative for investors. While it restricts supply and helps maintain property values, it also limits development potential for those seeking to maximize building density.
Property investors should ensure any development plans comply with current zoning regulations before proceeding. The strict controls help maintain Masaki's exclusive character but require careful planning for any construction or renovation projects.
How does Masaki compare for schools, hospitals, and essential services?
Masaki hosts some of Tanzania's finest educational and healthcare facilities, making it extremely attractive for families and expatriate tenants.
The area is home to the prestigious International School of Tanganyika, which serves the expatriate community and wealthy Tanzanian families. Top-tier healthcare facilities include the IST Clinic and Aga Khan Hospital, providing international-standard medical care that appeals to foreign residents and affluent locals.
Essential services, retail facilities, and hospitality amenities are abundant throughout Masaki, supporting a high standard of living that justifies premium rental rates. The concentration of quality services makes the area self-contained and highly convenient for residents.
These superior amenities create strong tenant demand and allow property owners to charge premium rents. Families with children particularly value the educational options, while the healthcare facilities provide peace of mind for older tenants and expatriate families.
It's something we develop in our Tanzania property pack.
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Masaki represents Dar es Salaam's premier property investment opportunity, combining strong fundamentals with premium positioning in Tanzania's largest city.
While certain risks exist including elevated crime rates and political uncertainty ahead of 2025 elections, the area's robust price growth, solid rental yields, and ongoing infrastructure development make it attractive for both investment and residential purposes.
Sources
- Dar es Salaam Property Market Analysis
- Knight Frank Tanzania Research
- Average Rental Yields Dar es Salaam
- The Citizen Crime Statistics
- People's Dispatch Tanzania Elections
- House Price Tanzania Analysis
- LinkedIn Real Estate Analysis
- Average Property Price Dar es Salaam
- Tanzania Crime Statistics 2024
- Trading Economics Tanzania Unemployment