MaMaison.sn, the leading property classifieds portal in Senegal, last November launched its monthly information letter which gathers market news and analyses for key industry stakeholders. You can download the November and December issues in French. Below is a translation of one of the articles,
Market analysis – property rentals in Dakar, Senegal
Each month, a growing number of internet users are looking to rent a property through MaMaison.sn and Expat-Dakar.com. These platforms represent over 80% of the market of unfurnished online rentals. Thanks to the fast digitalization of the sector, our visitors find many listings from real estate agencies or individuals. This digitalization generates relevant data for a market analysis.
Search volume for rentals in Dakar (Google)
Based on our analysis, the demand for houses appears very concentrated in the districts of Mermoz Sacré-Cœur, Sicap Liberté and Ngor-Almadies-Mamelles. The demand for apartments is a little more spread out, including a strong demand for the districts of Hann.
The high volume of demand in residential areas can be explained by the increasing middle class wanting to live in neighborhoods that offer a good quality of life and amenities such as a lift, parking space or garage, sewerage, security and also proximity to supermarket, pharmacy, school, health center, etc.
Rental ads on MaMaison.sn in Dakar
The online housing inventory of unfurnished rentals mainly consists of apartments (70%), followed by houses (19%) and studios (11%). This data shows a different perspective compared to the results recorded in the last survey of the National Statistics and Demography Agency (NSDA) back in 2009, where 71% of the rentals were rooms without internal toilets. A significant part of the housing inventory has not yet been digitized and this is particularly the case in the peri-urban or in the industrial areas of the capital.
The rental supply market is very dynamic, and in recent years there has been a rise of new real estate agencies and informal brokers many of whom are still being professionalized. In addition, investors who are not necessarily real estate experts also take part in building various luxury properties -which are mainly composed of apartments or offices for rent.
Rental Prices on MaMaison.sn in Dakar
The chart shows the average prices by category of properties listed on MaMaison.sn. The rental demand is certainly high in the capital and the online offer does not always meet the expectations of Internet users especially when it comes to the price.
The determining factors of the price are:
- the surface area
- the level of standing
- the neighborhood
- the position of the property in the area
- and the amenities.
Prices should drop from the 3rd quarter but a significant increase could be recorded in the 4th quarter corresponding with the holiday season where a strong rental demand is generally noted.
