Housing Finance in Senegal

Overview

This profile is also available in French here.

To download a pdf version of the full 2019 Senegal country profile, click here.

Senegal has maintained its good economic growth trajectory despite a slight decline of 0.31 percentage points (6.77 per cent in 2018 compared to 7.08 per cent in 2017). The economic progress noted in 2018 was made possible by the performance in certain sectors of the Senegalese economy, including housing, which increased by five percentage points compared to 2017. In 2018, housing loans amounted to CFA47.4 billion (US$82 million), representing 20 percent of the total amount of housing loans granted in the Union. Mortgage loans are less in demand from the country’s financial institutions. Only 1.5 percent of adults held a mortgage product in 2015.

Despite the dynamism of the financial market, access to finance remains a problem for a large part of the Senegalese population, especially among low-income households. The acquisition of social housing delivered at CFA14.5 million (US$25 000) remains a problem for many Senegalese households. Indeed, the annual gross national income (GNI) per capita amounts to CFA821 441.61 (US$1 416) and 37 percent of the country’s households earn at most seven million CFA francs (US$12 000) a year. The same situation is observed with rents. Rent prices remain high in Dakar despite the law of 22 January 2014 lowering rent prices in the capital.

To resolve the affordable housing issue, the government relies on the two major developers (SICAP SA and SNHLM) to regulate activity. It is a way for government authorities to monitor competition and easily implement their social housing supply policy.

Find out more information on the housing finance sector of Senegal, including key stakeholders, important policies and housing affordability:


Each year, CAHF publishes its Housing Finance in Africa Yearbook. The profile above is from the 2019 edition, which has up-to-date profiles for 55 African countries.

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