Housing Finance in Togo


Togo has a growing housing finance sector. As the mortgage market does not yet meet the breadth of the population who might afford a mortgage, most households still finance their housing independently, with savings or non-mortgage credit.

The lowest recorded interest rate on a mortgage in Togo is 9.13 percent, as of September 2016, and requires at least a 40 percent down payment. There are currently 2 923 mortgages in the country, with the average mortgage size being US$ 4 868. The cheapest newly built house by a developer recorded by CAHF is US$ 11 751, which is for a 40 square metre unit. Cement prices are lower than the continental average, at US$ 6.72 for a 50-kilogram bag.

With an urbanisation rate of 3.87 percent, demand for affordable housing will remain strong, both for rental and purchase. Housing microfinance will play an important role in increasing the supply of housing, and efforts to increase access should be undertaken. The limited provision of serviced lands, combined with a high urbanisation rate, has contributed to urban sprawl on the northern side of Lomé, which is now mainly c0nsists of informal settlements. With a good macroeconomic environment, sound policy, better data and increased access to affordable credit, an enabled housing market can increasingly provide housing that the average household in Togo can afford.

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

Each year, CAHF publishes its Housing Finance in Africa Yearbook. The profile above is from the 2018 edition, which has up-to-date profiles for 54 African countries.

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