Largest African Countries with the Costliest Property Markets in 2025
In 2025, Africa's real estate market showcases a mix of improved economies, increasing housing shortages, and a larger spread of monetary value. The top 10 most expensive real estate markets, as ranked according to NUMBEO Data - average price per square meter in the city's centers, are as follows:
- Mozambique, specifically Maputo, takes the lead as the most expensive real estate market in Africa. The high costs of urban real estate are attributed to increased investment by the government and interest from abroad, particularly in high-end residential neighborhoods. Real estate in Maputo costs an astounding $4,952.32 per m², making it a hotspot for investors and developers.
- Nigeria follows closely behind, with real estate costs in cities like Lagos and Abuja reaching $1,499.46 per m². Demand for exchanges and purchases is climbing faster than the city's earnings, leading to a competitive market.
- Kenya's real estate costs $1,520.35 per m², primarily in Nairobi, due to urban sprawl and outside interest driving prices up.
- Morocco's real estate costs $1,473.10 per m² in 2025, with a price-to-income ratio of 13.4. This moderately high cost makes it somewhat difficult for locals to afford housing. However, investors see a moderate level of returns, around 5.2% in the city and 5.0% outside, making it appealing for rental properties.
- Ghana's city-center property market has experienced significant growth, with average per m² prices reaching about $4,666.67.
- Algeria's city center real estate costs $1,261.94 per m² in 2025, with a price-to-rent ratio of 35.2 within the city and 31.2 just outside it.
- In Mauritius, city-center homes cost an average of $2,751.85 per m², with rental yields very low and mortgage costs high, making it difficult for people to afford.
- Ethiopia's real estate costs an average of $2,509.74 per m², making it largely inaccessible for most due to a price-to-income ratio of 47.1.
- Real estate in Cameroon's cities costs $2,046.05 per m², considered out of reach for most Cameroonians due to a high price-to-income ratio of 46.6.
- In Ivory Coast, the average price of housing is $2,162.14 per m², with affordability becoming a concern for more households in Ivory cities. However, due to the lack of index data, affordability can only be inferred from reports and trends.
In many of these countries, high prices are not solely due to strong property demands but also increasing inflation and limited housing supply. In growing cities like Morocco, for instance, prices rise, but rents remain low, making the rental yield lower than average. In Mauritius, prices rise, and rents remain low, making the rental yield lower than average, at 3.3%.
In major African cities, housing prices are climbing faster than income, making it difficult for the average citizen to buy or invest. This unequal urban housing situation is particularly evident in countries like Ethiopia, where high prices and economic obstacles contribute to a clear disparity.
Despite these challenges, Africa's real estate market continues to attract investors and developers, offering opportunities for moderate returns in cities like Morocco and potential for significant growth in markets like Ghana and Nigeria.
