Housing Finance in Seychelles


This profile is also available in French here.

To download a pdf version of the full 2020 Seychelles country profile, click here.

As a small developing country, Seychelles has a population of 97 625[1]. Prior to the Covid-19 pandemic there had been an unemployment rate of 2.4 percent which in turn indicates that there was a strong labor market [2].

To stabilize the economy during the pandemic, Seychelles announced a reduction in the loan payments coupled with postponing tax payments. The CBS also provided credit to assist banks with emergency relief measures so that they could in turn also offer relief to businesses and individuals who are affected by the pandemic.

Seychelles has a well-developed financial sector which is overseen by the CBS and Financial Services Authority. It’s seen that approximately 94 percent of Seychellois use banks in the country, also showing how accessible finance is in the country.

Being ranked as 144 out of 190 countries by the World Bank for ease into getting credit in the 2020 Doing Business report [3], Seychelles is seen as a country that should also look at enforcing more stringent bankruptcy and collateral laws because there’s now an increase in the amount of debts that haven’t been paid.

With the decrease in the total revenue of the GDP ratio (happening during the Covid-19 pandemic). It is likely that there will be increases in demand of housing migration to urban areas in the coming years. To assist, Seychelles provides subsidized mortgages to families that plan on building or buying houses.

Plans are also being made by government to increase the supply in houses with projects concentrating on providing enough housing, which in turn increases the supply for the increasing demand. The aim is to also increase supply in the real estate market to cater for the population’s needs. Also taking note that there is a variation in property pricing as per location, varying from US$56 per square meter to US$4500 per square meter. Accommodating most individual’s affordability.

The policy on the sale of land to foreigners also allows them to acquire freehold land which is held in private ownership only.


[1] World Bank (2020). Indicator Seychelles.


(Accessed 7 August 2020). Pg. 1

[2] World Bank (2020). Macro Poverty Outlook. Seychelles. (Accessed 6 August 2020). Pg. 274

[3] World Bank (2020) Doing Business 2020. Seychelles. http://documents1.worldbank.org/curated/en/390961575288160636/pdf/Doing-Business-2020-Comparing-Business-Regulation-in-190-Economies-Economy-Profile-of-Seychelles.pdf (Accessed 26 August 2020). Pg. 4.

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

Each year, CAHF publishes its Housing Finance in Africa Yearbook. The profile above is from the 2020 edition, which has up-to-date profiles for 55 African countries.

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