Housing Finance in Comoros

Overview

This profile is also available in French here.

To download a pdf version of the full 2022 Comoros country profile, click here.

Comoros is an archipelago in the Western Indian Ocean with three major islands and various islets. Every island has separate administration and management. Comoros’ population in 2021 was 888,456, up from 869,595 in 2020. The UN estimates that 30% of the population will reside in cities by 2021. 465 people live per km2 on the Comoros. High population density and limited land area strain natural resources, the environment, and housing needs.

The economy of the Comoros is undiversified and heavily reliant on foreign assistance, remittances, and tourism. It is also one of the world’s most reliant on food imports. Gross domestic product (GDP) increased by 1.9% in 2021, indicating a broad revival in economic activity. Inflation is forecast to rise dramatically in 2022, while poverty is likely to fall only somewhat during the following two years. Costs of consumption increased by 3.4% in the second quarter of 2022, owing to increases in the prices of lodging, water, gas, electricity, and other fuels.

The Comoros Central Bank reduced the reserve requirement ratio from 15% to 10%. At 30 June 2021, the state debt ratio was 26.8% of GDP (divided between foreign and domestic debt), up from 26.12% at 31 December 2020. Short-term, medium-term, and long-term mortgages increased from KMF 37.1 billion (US$78,616.433.7) in December 2020 to KMF 42.6 billion the following year.

In 2022, a 150 m2 home built by a licenced developer or contractor in a city will cost KMF30,000,000 (US$61,455). This is the lowest price for a new home in a city.In metropolitan regions, the minimum size of a residential property is 300 m2, and the average land cost per square metre is KMF 35 000.

By investing in human capital, infrastructure, and governance, the government of Comoros aims to transform the country into a thriving developing economy over the next decade. In order to support its programme, the government has sought aid and international direct investment.

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


Each year, CAHF publishes its Housing Finance in Africa Yearbook. The profile above is from the 2022 edition, which has up-to-date profiles for 55 African countries.

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