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Cameroon – Real estate: Funds available to finance real estate in Cameroon hardly cover 10% of demand, according to Crédit Foncier

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Written by Deckson N.

Lack of financing is among the major obstacles to development in the housing sector in Cameroon. According to experts in Crédit Foncier, the bank for housing in the country, funds available hardly cover 10% of demand which is continuously increasing.

This observation has been made after a two-day conference on the financing of real estate, during which environmental constraints and the competence of professionals have also been cited among the obstacles to massive production of housing in Cameroon. As a reminder, the deficit in housing in the country is officially estimated at 1.3 million units. In 37 years, the Crédit Foncier of Cameroon has granted loans for a total amount of FCfa 261 billion, which has enabled the construction of 69,500 houses and the development of more than 15,700 building plots.

In order to contribute to the loosening of the squeeze on financing for real estate developers, the Cameroonian government has already decided, in the 2016 Finance law, to waive VAT (19.25%) on real estate loan interest as well as low cost housing transactions.

Via BIC

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Deckson N.

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