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Informations about real estate market
Real estate market in Cameroon - significant price differences in different regions
Cameroon has a very clear price differential in the real estate sector, depending on the region. There is a great price difference between towns and villages. The most expensive cities are Douala and Yaoundé . The other Regional Capitals also show price inflation in the real estate sector.
In Cameroon in general, whether it is renting or selling, the prices of land and buildings are stable and increasing.
Cameroon launches electronic declaration of real estate transactions
From now on, the tax declaration of real estate transactions can be done electronically in Cameroon. The General Directorate of Taxes of the Cameroonian Ministry of Finance launched the measure on 1 June, in the cities of Douala and Yaoundé.
Have the property evaluated before its sale or letting:
Estimating the value of your property is a crucial step to successfully selling your property. There are different ways of obtaining real estate estimates. Some are free, others pay. Different providers (notaries, real estate agencies, experts) or online services can help. The appraisal or real estate appraisal aims to determine three main values:
- The market value, that is, the value at which a good can normally and quickly sell itself on the market.
- The rental value, which is used as a support when drawing up the lease contract.
- The intrinsic or real value, which corresponds to the cost of construction or to the value in the new state of the building on the day of the appraisal, deducting a percentage corresponding to the physical depreciation of the property due to its dilapidated state. Only the element taken into account will be the value of the land.