Given Africa’s size, housing prices are expected to vary across the continent. Whether in the North, South, East, or West, each region has its unique set of economic and cultural factors that determine how much houses cost.
Many African countries are undergoing economic growth and fast urbanization. It’s a simple economic equation: as the population grows, so does the demand for homes, which influences property prices.
Despite the issues caused by high housing costs for inhabitants, they provide investment opportunities for those looking to profit from the real estate industry.
Keeping a careful check on global living standards, Numbeo, a platform noted for its economic index, tracked property prices in several locations, including Africa.
Numbeo’s 2024 research found African countries where housing prices tend to be higher. Periodically, the platform’s indexes change.
The values in the current list represent Numbeo’s price-to-income ratio. The price-to-income ratio is an important metric of apartment buying affordability, with a lower ratio indicating greater affordability.
Here’s the ranking below:
1. Cameroon
2. Ethiopia
3. Algeria
4 Morocco
5. Egypt
6. Tunisia
7. Kenya
8. South Africa