General Assessment

    Variable(2018)
    Data
    Main constraints in the development of the housing finance sector Demand continues to outpace supply and affordability remains a problem. The high costs of construction materials combined with prohibitive interest rates has made housing too expensive for the average Senegalese and for low-income families. As a result, the vast majority of housing is delivered through informal channels.
    New developments that will have a major impact on the sectorThe "Plan Emergent Senegal" and its flagship new cities (Diamniadio) offer many investment opportunities for both local and foreign investors. In addition, the country’s participation in the West African regional mortgage refinance company (CRRH-UEMOA) will provide necessary long-term capital, and hopefully promote the ongoing supply of housing.
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    Notes: not available beyond the provident insurance involved in BHS Pack 35
    Notes: Property Tax on Developed Land (contribution foncière des proprieties bâties) is levied at a rate of 5% for all immovable properties except factories. Refer to Article of the Code General de Impots , Loi -2012-31
    Notes: Property Tax on Developed Land (contribution foncière des proprieties bâties) is levied at a rate of 5% for all immovable properties except factories. Refer to Article of the Code General de Impots , Loi -2012-31
    Notes: The Caisse des Depots et Consignations is a public bank, mandated to contribute to the economic development of the country by investing in projects such as social housing
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 25 banks, 4 finance institutes
    Notes: average of fixed and variable rates
    Notes: Banque de l'Habitat de Senegal (BHS) alone is estimated to originate about 25% of all housing loans. Source: BCEAO, 2014
    Notes: Banque de l'Habitat de Senegal (BHS) alone is estimated to originate about 25% of all housing loans. Source: BCEAO, 2014
    Notes: BCEAO manages a Bureaux d’Information sur le Crédit (BIC), but there are no private credit bureaus
    Notes: BCEAO manages a Bureaux d’Information sur le Crédit (BIC), but there are no private credit bureaus
    Notes: Capital gains are considered as business income and are subject to a flat tax of 30% of the net gain.
    Notes: Capital gains realized from the sale of real property are considered as business income and are subject to corporate income tax at a flat rate of 30% on the net gains. The seller or the owner of the property is held liable for this tax.
    Notes: Capital gains realized from the sale of real property are considered as business income and are subject to corporate income tax at a flat rate of 30% on the net gains. The seller or the owner of the property is held liable for this tax.
    Notes: Capital gains realized from the sale of real property are considered as business income and are subject to corporate income tax at a flat rate of 30% on the net gains. The seller or the owner of the property is held liable for this tax.
    Notes: Capital gains realized from the sale of real property are considered as business income and are subject to corporate income tax at a flat rate of 30% on the net gains. The seller or the owner of the property is held liable for this tax.
    Notes: Capital gains realized from the sale of real property are considered as business income and are subject to corporate income tax at a flat rate of 30% on the net gains. The seller or the owner of the property is held liable for this tax.
    Notes: combines owners and co-owners
    Notes: combines renters and co-renters
    Notes: estimate
    Notes: Figure comes from the formal market in Dakar which mainly caters to high income clients
    Notes: For loans that are greater than 50mm FCFA in value.
    Notes: For loans that are greater than 50mm FCFA in value.
    Notes: For loans that are greater than 50mm FCFA in value.
    Notes: For loans that are greater than 50mm FCFA in value.
    Notes: For loans that are greater than 50mm FCFA in value.
    Notes: generally requires purchase of provident mortgage insurance
    Notes: inter-bank market is underdeveloped. Banks can access liquidity through the Caisse Régionale de Refinancement Hypothécaire (CRRH), a Regional Refinancing Entity for WAEMU countries. Senegalese banks have acccessed 20 billion CFA ($34.5 million USD)
    Notes: inter-bank market is underdeveloped. Banks can access liquidity through the Caisse Régionale de Refinancement Hypothécaire (CRRH), a Regional Refinancing Entity for WAEMU countries. Senegalese banks have acccessed 20 billion CFA ($34.5 million USD)
    Notes: Most MFIs in Senegal that are nongovernmental organizations are "mutual MFIs."
    Notes: Most MFIs in Senegal that are not nongovernmental organizations are "mutual MFIs."
    Notes: Most MFIs in Senegal that are not nongovernmental organizations are "mutual MFIs."
    Notes: Most MFIs in Senegal that are not nongovernmental organizations are "mutual MFIs."
    Notes: Most MFIs in Senegal that are not nongovernmental organizations are "mutual MFIs."
    Notes: Most MFIs in Senegal that are not nongovernmental organizations are "mutual MFIs."
    Notes: Most MFIs in Senegal that are not nongovernmental organizations are "mutual MFIs."
    Notes: not available beyond the provident insurance involved in BHS Pack 35
    Notes: Number of banks and microfinance agencies that offer mortgage loans.
    Notes: Property tax is levied at a rate of 5% of the property's rental value.
    Notes: Property Tax on Developed Land (contribution foncière des proprieties bâties) is levied at a rate of 5% for all immovable properties except factories. Refer to Article of the Code General de Impots , Loi -2012-31
    Notes: Represents only BHS housing loans outstanding, which in 2013 dominated the housing finance market.
    Notes: Represents only BHS housing loans outstanding, which in 2013 dominated the housing finance market.
    Notes: Represents only BHS housing loans outstanding, which in 2013 dominated the housing finance market.
    Notes: Represents only BHS housing loans outstanding, which in 2013 dominated the housing finance market.
    Notes: Senegal participates in the regional mortgage refinancing facility, CRRH
    Notes: Senegal participates in the regional mortgage refinancing facility, CRRH
    Notes: Senegal's mortgage bank focuses primarily on providing housing finance to its citizens, but it also offers a wider range of typical commercial bank services like savings and checking accounts, debit cards, and retirement accounts. It has been in operation since 1980 but previously served more as a short-term credit provider and not a true mortgage bank.
    Notes: Senegal's mortgage bank focuses primarily on providing housing finance to its citizens, but it also offers a wider range of typical commercial bank services like savings and checking accounts, debit cards, and retirement accounts. It has been in operation since 1980 but previously served more as a short-term credit provider and not a true mortgage bank.
    Notes: Senegal's mortgage bank focuses primarily on providing housing finance to its citizens, but it also offers a wider range of typical commercial bank services like savings and checking accounts, debit cards, and retirement accounts. It has been in operation since 1980 but previously served more as a short-term credit provider and not a true mortgage bank.
    Notes: Senegal's mortgage bank focuses primarily on providing housing finance to its citizens, but it also offers a wider range of typical commercial bank services like savings and checking accounts, debit cards, and retirement accounts. It has been in operation since 1980 but previously served more as a short-term credit provider and not a true mortgage bank.
    Notes: Senegal's mortgage bank focuses primarily on providing housing finance to its citizens, but it also offers a wider range of typical commercial bank services like savings and checking accounts, debit cards, and retirement accounts. It has been in operation since 1980 but previously served more as a short-term credit provider and not a true mortgage bank.
    Notes: Senegal's mortgage bank focuses primarily on providing housing finance to its citizens, but it also offers a wider range of typical commercial bank services like savings and checking accounts, debit cards, and retirement accounts. It has been in operation since 1980 but previously served more as a short-term credit provider and not a true mortgage bank.
    Notes: Société Immobilière du Cap-Vert (SICAP) is a majority state owned developer that offers homes to low income households on a rent-to-buy program
    Notes: Société Immobilière du Cap-Vert (SICAP) is a majority state owned developer that offers homes to low income households on a rent-to-buy program
    Notes: The ARIZ guarantee from Agence Francaise de Développement (AFD) guarantees loans to micro, small, and medium enterprises (MSMEs), and microfinance institutions (MFIs). The maximum amount guaranteed is EUR 2 million (USD 2.3 million) per transaction and EUR 4 million (USD 4.7 million) per company or group.
    Notes: The ARIZ guarantee from Agence Francaise de Développement (AFD) guarantees loans to micro, small, and medium enterprises (MSMEs), and microfinance institutions (MFIs). The maximum amount guaranteed is EUR 2 million (USD 2.3 million) per transaction and EUR 4 million (USD 4.7 million) per company or group.
    Notes: The Caisse des Depots et Consignations is a public bank, mandated to contribute to the economic development of the country by investing in projects such as social housing
    Notes: The State created the Fonds de garantie pour l’acces du lodgement (FOGALOG) in 2015 to facilitate access to financing for the construction or purchase of low-income housing. BHS signed an agreement with FOGALOG in 2015.
    Notes: The State created the Fonds de garantie pour l’acces du lodgement (FOGALOG) in 2015 to facilitate access to financing for the construction or purchase of low-income housing. BHS signed an agreement with FOGALOG in 2015.