In Summary
- The top 10 most expensive real estate markets in Africa are less than half of the average person.
- Mozambique and Ghana have the highest value price per square meter, which rapidly reflects urban development and strong investor interest.
- Many of these countries rank high not due to strong property demands, but due to increasing inflation and limited housing supply.
Deep Dive!
Africa’s real estate market in 2025 shows both improved economies, increasing housing shortages, and a larger spread of monetary value.
In major cities, housing prices are climbing faster than income, making it difficult for the average citizen to buy or invest.
This article explores the 10 most expensive real estate markets in Africa, ranked according to NUMBEO Data – average price per square meter in the city’s centers. But the value alone does not tell the whole story alone; we also look at other major factors such as rental income, mortgage costs, and affordability for locals. This gives a clear picture of what these prices are running and whether they are really worth it.
10. Algeria
Real estate in Algeria will be difficult to access in 2025. At $1,261.94 per m² for a house in the city center, people there pay a very high price, with a price-to-rent ratio of 35.2 within the city and 31.2 just outside it. Despite all this, rental profit is low, with gross yields at just 2.8% and 3.2%. Having an income equal to 16.7 price-to-income ratios, the ease of home buying remains a challenge, with mortgage interest equaling 147.6% of income. Algerians find that buying a house often leads to big expenditures and only moderate returns.
9. Morocco
Growing cities in Morocco made real estate reach $1,473.10 per m² in 2025. Morocco’s price-to-income ratio of 13.4 is modest compared to other countries, reflecting steady difficulty with affording housing. Investors see a moderate level of returns, around 5.2% in the city and 5.0% outside, so it’s appealing for rental properties. At the same time, a mortgage-to-income ratio of 105.8% still means getting financing is tough. With expenses being lower than other North African nations, Morocco is at a point where rising rents and consistent demand match.
8. Nigeria
In Nigeria, property prices kept increasing until 2025, reaching $1,499.46 per m². Having exact statistics is difficult, though it’s clear from anecdotal data that many middle-class Nigerians struggle with urban housing prices. Because both foreign and local investors are rushing to Lagos and Abuja, demand for exchanges and purchases is climbing faster than the city’s earnings. How much rent you can get depends on where you buy and getting a mortgage remains difficult for first-time buyers.
7. Kenya
Now that real estate costs $1,520.35 per m², it is turning into a valuable investment, mainly in Nairobi. Inefficacy in measuring affordability doesn’t capture the problems this year, as urban sprawl and outside interest have driven prices up. Kenya faces the same problem as Nigeria, where not enough mortgages are available and prices for construction are going up. Nonetheless, the increasing demand for housing in main city centers comes from the expanding middle class.
6. Cameroon
Real estate in the cities of Cameroon is among the most expensive in all of Africa when compared to the average price of $2,046.05 per m². Property is considered out of reach for most Cameroons, thanks to a shockingly high price-to-income ratio of 46.6. Nonetheless, the country’s real estate yield is among the highest at 9.2% in the city and 11.4% outside, bringing many real estate investors. The mortgage pressure at 907.8% of income is especially tough and one of the highest.
5. Ivory Coast
Interest in Abidjan’s growing residential market is boosting the average price of housing in Ivory Coast which now costs $2,162.14 per m². Not having access to index data means we can only use reports and trends to say that affordability is beginning to affect more households in Ivory cities. Because the city is a strong center for trade, there is constant high demand and speculation which increases the expense of real estate. Because of increased interest from overseas developers, property costs in the main districts are rising again.
4. Ethiopia
The real estate market in Ethiopia costs so much that, for most, it’s entirely out of reach. Because the price-to-income ratio is 47.1, those interested in center city properties spend an average of $2,509.74 per m². At the center, you can expect around 6.0% in rental yields, while it’s 5.4% farther out and the mortgage burden is extremely high at 762.3% of income. Even with the lowest affordability index of 0.1 on the list, owning a home can be a real challenge. The problem of unequal urban housing is particularly clear because of Ethiopia’s high prices and economic obstacles.
3. Mauritius
Real estate in Mauritius continues to be both wanted and expensive in 2025 and city-centre homes go for an average price of $2,751.85 per m². Mauritius’s price-to-income ratio is below average (at 18.5), but rental yields are very low, at 3.3% throughout the city. Because of this, prices rise and rents remain low, so the ratio tops 30, making investors less interested. Given that mortgage costs are 159.2% of earnings, it’s tough for people to afford. Despite this, the stable economy and international appearance of the country attract buyers, mostly from abroad who wish to purchase expensive seaside properties.
2. Ghana
The city-center property market in Ghana has experienced dramatic growth, making the average per m² price about $4,666.67. Although data for prices and profits from renting are lacking, increasing demand in Accra and other busy areas keeps stretching people’s budgets. The increased investment by people abroad, development work on transportation and buildings and the higher cost of construction are leading factors in this trend. However, the costs are usually too high for many locals to manage without help from outside.
1. Mozambique
With real estate costing $4,952.32 Per m², Mozambique is named the most expensive African real estate market in 2025. There is strong interest from investors and developers in high-end residential parts of Maputo. Although index figures are not available, the cost of land for urban real estate reveals a clear trend: only those with great wealth can buy city homes now. Investments by the government in infrastructure and interest from abroad are two big factors behind rising costs.
https://www.africanexponent.com/top-10-countries-with-the-most-expensive-real-estate-in-africa-2025/
