Top 25 most popular questions people ask about acquiring a home in Cameroon.

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1. Do folks actually sell their homes in the country of Cameroon?
Yes many property owners property owners do indeed sell their homes for numerous reasons such as needing cash to pay for their children’s tuition or departure from Cameroon, needing money for retirement, wanting to invest elsewhere. Most sales opportunities are via word of mouth, range in value and occur all over the ten provinces in Cameroon. As the urbanization rate of Cameroon increases by approximately 3% per year the majority of homes available for sale are in the major cities such as Yaounde, Douala and Bafoussam.
2. Are there new construction homes available for sale?
Absolutely. There is a shortage of homes in fact presently the demand for homes far outweighs the supply. Here comes the dilemma. In order to meet housing needs and the influx of an urbanized population, many low cost homes are being developed in the urban areas. They are new and affordable but delivered with low quality. Built to provide an aesthetic pleasing view but not built to last.
3. How do I find a home for sale?
That is a problem. There is no centralized multiple listing services in the country. Local real estate companies have limited lists of homes, land and rental properties available however, the choices are fewer than a couple of hundred. SECPE (Standards Excellence Care Property Experts) is an international American owned company that provides state of the art technology, access to a listings site that is growing by the day. The objective is to provide you with all available real estate investment opportunities, buying selling land, homes, short term/ long term rentals and property management services. As the newest player in town, we make no excuses and simply offer you superior service at standards you are accustomed to. Check us out www.secpeinvestments.com
4. How reliable are real estate agents in Cameroon?
There are some really good agents in Cameroon, in French, they are called ‘Immobiliers’. They provide customary real estate services however, Cameroon is not governed by the ‘Seller’ agency law as is customary in most developed countries and experienced trained professionals are rare and far between as a result, there are many scary stories. The creator/founder of SECPE brings over 10 years of experience having been trained in the United States of America. She is an active Licensee in the state of North Carolina. The processes brought to the firm stem from the classroom and on the field training and are shared amongst the agents. Though selecting an agent can be a daunting task, it still is a much better option than trying to negotiate a transaction solo. To save you time and trouble, choose a really good agent whom can provide you with references. WRITTEN REFERENCES. Contact us at SECPE let us navigate the waters for you.
5. Can I focus my search based on specific criteria?
So it depends. What is your criteria? Great schools, city life? Affordable? Luxurious? Close to work, Safer neighborhood? Most information, in general, is subject to word of mouth. Word of mouth may be unreliable and access to statistical data reflecting sales in neighborhoods and influx of transplants is unavailable without the physically going to the ministry. Not much is online and most statistics are on paper. Very few companies track specific criteria as it is costly to gather and maintain. So at the end of the day your ability to match your specific criteria is dependent on three things 1) Getting a really good real estate agent 2) The information that agent has access to and 3) Your own often, outdated, information you have of the general area you wish to make a purchase in. Check out our website at www.secpeinvestments.com and see the work we do to make that information available to you at the click of a button.
6. What is the average cost of say a 4 bedroom home?
Great question. Like any city, it depends on the location, location, location. IN addition in Cameroon as is most West African nations, it depends on the quality of the home. There can be a huge discrepancy between the prices of homes in the same neighborhoods. So the answer is, what is your budget? In the cities such as Douala, Bonamoussadi, and Yaounde, Bastos, a luxury 4 bedroom should set you back approximately 300,000,000xfa (approx. $500,000) for a home. In 2010, the Douala city council embarked upon a project to build 1000 affordable apartment homes. They average cost was around 25,000,000xfa. In a nutshell, the average price of a home varies. Once you can afford to purchase the land, the home investment can range from 10,000,000xfa to unlimited for a 4 bedroom home/apartment.
7. If I buy a home, how do I know the price isn’t over inflated?
You can opt to have the home appraised by a reputable appraiser. There are many such professionals afforded by referrals through SIC (Société Immobilière du Cameroun) and Credit Foncier. However, the average person does not want to shell out the extra money to secure their investment. SECPE investments always recommend that such evaluations occur and will routinely offer them. If you are unable to get your purchase appraised, you do stand the chance of being overly priced, as the sales price is often padded to account for incentives to the numerous third party individuals that are between the true Owner and the prospective buyer.
8. Do homes appreciate in value?
Absolutely. Land always appreciates in value. Improvements on the land such as homes are great investments. In Cameroon given the current situation of the shortage in homes, improvements on the lands are often greatly rewarded either via sales or rentals. Expect your home value to appreciate between 10 – 50% yearly, especially in the major cities. In addition, the influx of personal and private development has leveraged the huge surplus of demand for housing to afford random unheard of gains to their improvements in less than two years!
9. If I need to do upgrades how affordable is it?
You buy a home, but It needs renovation. That is a typical situation. Most landlords do not make upgrades or maintain the improvements to the land. Therefore home sales are typically sold as is and necessitate further upgrades. The upgrades can be costly. In Cameroon, getting a solid reputable architect is the responsible approach for making these upgrades to ensure your needs are met responsibly. Building materials are expensive so your taste, location, (urban or rural) will set the tone for how much you want to invest. Most owners opt for cheaper accessories and upgrades for rental properties. Expensive upgrades are usually found in homes designated for personal use. The beautiful thing about Cameroon is that labor is still relatively cheap and upgrades can begin rather quickly at an affordable pace until the work is complete. SECPE recommends that non-new construction type homes have a minimal makeover to improve its value. We work hard to ensure you get the maximum optimum value for your investment.
10. What is the median price range of sold homes?
55% of the population in Cameroon own their own homes. 33 percent there about rent. This is an increase from the previous years. Approximately 11% of the population live with relatives. A huge decrease of about 9% from the previous decade. With the influence of western culture via social media and other mediums, homes have increased in value, accommodating more features such as kitchen with cabinets and stoves, toilets with shower and a tub, tiled floors and bedroom closets and bathrooms on a smaller scale of approximately 200 – 300 metres square. The median range therefore in the cities can be purchased in the range of 19,000,000xfa, for a household earning around 250,000xfa per month to 140,000,000xfa for a household earning around 2,000,000xfa per month.
11. What are the best luxurious neighborhoods to live in Cameroon?
Every major city has neighborhoods that cater to Expats, political representatives, government officials etc. and as such are much more appealing to Cameroonians in the diaspora because they are home to the best schools, superior shopping centers, completely tarred roads, quiet areas, accessibility to high-end restaurants, shopping, taxis, clinics etc. However, folks are often surprised that the values of these homes are more expensive or just as expensive as luxury neighborhoods abroad. To date, Douala – Bonamoussadi, Yaounde – Bastos, Golf, Hippodrome, sport residential properties that are in excess of 1 billion francs cfa.!!!!
12. How much information is available on the procedure for purchasing a home?
Most of the data and information in Cameroon is, unfortunately, available only on paper and necessitates a trip to the Ministry. Mindcaf/Cadastre do provide electronic versions of procedures needed to for secure a residence.
http://www.mindcaf.cm/…/documentation/textes-et-loiss/decret
SECPE is working on providing a centralized database of all properties in Cameroon allowing landlords to independently list and directly market their homes to consumers across all five continents. The data amassed can also be leveraged to compile variable and reputable comparative marketing analysis on available and sold listings.
13. What are the basic steps to acquire a home
Once an offer is made on a property and the offer is signed between the authorized legal owner (as stipulated on the title) of the home and the prospective buyer here are the next steps
• Provide proof of payment – If paying cash, proof of funds in a reputable bank in Cameroon (There are 14 major financial institutions in Cameroon, Ecobank, UBA, SGBC, BICEC, Afriland etc). if paying partially with borrowed funds, proof of secured loan agreement from one of the identified reputable banks) and partial proof of available cash funds on hand.
• Official contract and proof of funds are then provided to a reputable Notary to finalize the transaction, process tax payments, broker incentives, commissions etc.
• A copy of the property deed is obtained at the Land Registry “Service Des Domaines”
• A notary drafts the sale agreement
• The registered sale agreement is then notarized
• The sale agreement is then registered with the Tax Authorities “Centre des Impôts”
• The final transfer of the property title is recorded with the Land Registry “Service des Domaines
The total Process can take up to 90 days with the final transfer of property title taking up to 2 months alone to process.
14. What do I need to initiate a secure transaction to purchase real estate in Cameroon?
Contact SECPE 222 209 880 or any other reputable real estate firm and speak to an agent about your needs. We will walk you through the process, iron out any details, sign an agency contract I and then go hunting for the home of your choice. Note that if you are not a Cameroonian, the process for owning real estate has added layers. It is vital that you consult a reputable professional as suggestions that this is an easy process for non-citizens of Cameroon is incorrect. Many Cameroonians now nationalized non-citizens abroad have purchased property in the name of a trusted relative. Such transactions have led to many a headache as the non-citizen has little to no legal recourse available.
15. What should I be looking out for to avoid being scammed in a transaction?
Scamming is unfortunately not just limited to strangers, even family relatives have known to fraudulently usurp titles on properties they don’t own. The only way to avoid the possibility is to pay for the services of a reputable agency. Outside of that, you are taking a chance. Our recommendation is to look for an agency with a brick and mortar location, one with experience, a frequently updated website, a working number and plenty of references. SECPE provides you with a professional and respectful agent that puts your needs first. We pride ourselves on serving families and businesses one investment property at a time.
16. I live abroad, can I purchase a home in Cameroon?
Absolutely as stated there are many options available. If you are paying cash or using private funding, as a citizen of Cameroon you have the legal right to purchase a property. In addition, certain options allow citizens of Cameroon living abroad (in France and Canada today) to purchase homes based on a joint program between Cameroon and their credit financial institutions. Prospective buyers must meet all of the criteria, complete verification of income in order to qualify. These programs are primarily censored and moderated by Credit Foncier du Cameroun. Contact SECPE for more information concerning this option. infosecpeinvestments.com
17. Do I have to be a citizen to purchase a home in Cameroon?
Yes, the laws stipulate that you have to be a citizen to purchase real estate in Cameroon. However, residents meeting certain criteria are allowed to own real estate if they can provide the required documentation and obtain the necessary permissions from the Ministry of Housing and Urban Development. SECPE can provide consultation in this area of expertise.
18. Are there any lenders that will lend money to assist in my purchase?
There are 11 major banks in Cameroon. With the shortage of homes in the country, private development of land has skyrocketed as the government struggles to catch up with the rapid urbanization of the cities. Banks are willing to provide loans to viable borrowers. Loan documentation, underwriting is rigorous as fraud is rampant and has resulted in losses. Most banks have one primary requirement. Open up a checking or savings account. Deposit funds CONSISTENTLY for 1 full year. At the end of the year, your chances of being given a loan to assist you with your purchase goes up by almost 80%.
19. How are my interests protected.? Who do I reach out to in the event that my transaction hits a snag?
The legal system in Cameroon as is in most developing countries is slow and can be frustrating. Its best to hire a great agency to assist with your transaction from the very beginning to avoid any potential pitfalls. Most agencies such as SECPE have partnerships with needed resources within the legal system and other professionals, such as appraisers, notaries, accountants, surveyors, architects, lawyers, bailiffs to assist and provide guidance at any stage of the process. In a developing country such as Cameroon, having these connections is a huge relief.
20. Can I get an appraisal done on a property I am about to purchase?
Yes, you can and you should. They are not cheap, as such few individuals take advantage. However, here at SECPE we strongly recommend the investment as it arms the potential buyer with the proper information with which to make a decision.
21. Can I get a home inspected?
Yes, all homes can be inspected. Unfortunately, inspectors are not completely effective and have been known to provide inaccurate ratings. Working with a reputable firm with established relationships helps to navigate your needs to a reputable professional for greater results.
22. I am a little suspicious has anyone died in the house?
Yes, we get asked this a lot. Tribal superstition is embedded in the culture of Cameroon and is routinely asked by owners wishing to avoid any kind of negative karma. As a routine, if any SECPE agent is aware of the demise of anyone, that information will be disclosed to our client. Given the culture and sentiment of many individuals, I have seen many a transaction fall through because of superstition. It is the nature of our continent and if that is a concern, it should be addressed.
23. Are taxes paid on the purchase of the home?
Yes… Taxes range in total from 17 ½ % – 22 ½ %per transaction.
24. Is it cheaper to purchase or to buy the land and build on it.
As in any economy, the answer is it depends. There is no steadfast rule. I have seen folks purchase land and spend more than they needed to build the home of their choice and I have seen prudent investors, purchase properties and obtain an unbelievable deal. If you would like to be in the city, finding land in the lucrative areas can be tedious and if that is your preference, buying an existing property is usually the sole option. If your needs/criteria are much more flexible, you will find multiple opportunities that suit your needs. Land is in abundance in Cameroon. At SECPE Our development and renovation department can assist in ascertaining which option works best.
25. Is it true that there are a lot of fraudulent titles being used in sales transactions?
Unfortunately, this is a hazard and reoccurrence in Cameroon. There has been little headway to stop the painful stealing of money from unsuspecting individuals. Typically, homes or lands are sold to multiple individuals, titles are forged and sold to unknowing participants who do not have the opportunity to perform due diligence. There are even cases where titles may be legitimate but are present in court being contested for a plethora of reasons. Having a reputable and trustworthy agent to work with you is pivotal, as you can lose your hard earn money to a Con. The answer, hire a reputable firm. Contact SECPE at 237 222 209 880 or in the USA 1 701 771 05487. Or email us at info@www.secpeinvestments.com

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