COMMUNE DE NKOL-AFAMBA

NKOL-AFAMBA, OFFICIAL WEBSITE

Real estate situation

The real estate market in yaounde and its suburbs

The real estate sector presents multiple investment opportunities not only in the urban area of the municipality, but also in the rural areas where touristic sites, agro-pastoral farms, higher educational institutions and many others are located.

These various opportunities are several types of services to be provided such as: the setting up of real estate agencies for the management of rental investment, real estate development companies for constructions, sale, management and renovation of housing, companies specialising in interior fittings, leisure areas and others, and also the setting up of co-ownership trustee firms.

Nature of the market

According to the 2018 National Accounts Report of the National Institute of Statistics (NIS) of Cameroon, the share of real estate in the GDP represents more than 2 billion euros, or just over 9%, which shows the important share of real estate and the opportunity for investment in this sector of activity.

80 billion euros for the entire Cameroonian territory including nearly 20 billion for the city of Yaounde alone. With an overall urbanization rate of 52% and about 75% in the Centre region, the demand for housing in Cameroon is estimated at 100,000 homes per year according to the cement company LAFARGE CAMEROON. The total cumulative need is 1.6 million dwellings on the national territory including 300,000 dwellings for the city of Yaounde, the political capital.

According to the study carried out in 2011 by the local NGO "Actions solidaires de soutien aux organisations et d'appui aux libertés", in Yaoundé and its suburbs, only 2 housing requests out of nearly 100 receive a satisfactory response from the real estate market.

An economic operator who invests in real estate in Yaounde, the political capital of Cameroon and its suburbs, should expect that this investment will provide an average rate of return of nearly 9%, regardless of the type of rent. In concrete terms, the British firm Knight Frank, which has just published a study on the issue, reveals that in this city office rents provide a rate of return of 10%, compared to 8.75 and 7.5% respectively for commercial and residential rents.

Accommodation in Nkol-Afamba

The Nkol-Afamba Municipality is a semi-urban and rural council. Its socio-economic assets make it pleasant and attractive for its population and for any other person wishing to settle down within its municipality.

Semi-urban in nature, the Nkol-Afamba Municipality, located on the outskirts of the city of Yaounde, benefits from urban facilities making it a residential suburb of the city of Yaounde. The presence of a favourable climate, supermarkets and food markets, mostly maintained roads, energy (water and electricity in urban areas), law enforcement services, health centres, schools, places of social gatherings, etc., are conditions that allow the local population and foreigners to be comfortable.

There is easy access to home ownership for rental housing. The houses for rent are mostly modern in the urban area, and traditional in the rural area. The property varies from a one-bedroom flat to a multi-bedroom flat and why not a villa or a duplex. The increase in the local population of the municipality reflects the attractiveness of access to real estate.