Cameroon Government Launches sale of 1675 Social Residences in Yaoundé & Douala


Olembe building site

Types of Housing on Sale in Olembé (Yaoundé)

In a program to build and sell 10,000 social homes and the development of 50,000 building plots, the Cameroon Government has launched the sale of an initial 1675 social homes in Olembé (Yaoundé) and Mbanga-Bakoko (Douala).

On Wednesday 18th September 2013, the Minister of Housing and Urban Development, Jean Claude Mbwentchou , officially launched the commencement of the sale of the first built 1675 homes in Olembé (Yaoundé ) and Mbanga-Bakoko (Douala ).

The social housing projects can be bought only by Cameroonians. It has to be duly noted that, the Cameroon Ministry of Housing and Urban Development will reserve some of the available units for Cameroonians in the Diaspora. Cameroonians can contact their various embassies for more enlightenment but are generally advised to visit the website http://www.logements.cm for all relevant information on homes for sale in Olembé (Yaoundé) and Mbanga-Bakoko (Douala).

Types of Housing on Sale in Olembé (Yaoundé)
Homes types

Olembe is Located in Yaoundé at the northern entrance of the city, 5 minutes from the Presidency of the Republic. There are 500 homes here for sale. 400 units of T4 and 100 units of T5 type homes.  T4 accommodations range from 99.30 square meters to 105.21 square meters, while the T5 accommodations range from 120.87 m2 to 122.89 m2.

Home Prices in Olembe (Yaoundé)

The Home prices in Olembe range from 18,256,000 to 23,098,250 FCFA (Approximately €27,831.09 to €35,213.06 or 37,614.75(US dollar) to 47,584.51 (US dollar) or 23,444.62 (British Pounds) to 29,665.74 (British Pounds).

Types of Housing on Sale in Mbanga-Bakoko (Douala)

Mbanga-Bakoko Bulding siteMbanga-Bakoko is situated to the east of the city of Douala. There are 1175 homes here for sale…435 units of T4 and 740 units of T5 type homes.  T4 accommodations range from 89.90 to 96 square meters and 102.45 to 111.25 square meters for T5.

Home Prices in Mbanga-Bakoko (Douala)

The Housing prices in Mbanga-Bakoko range from 16,726,500FCFA to 20,832,000 FCFA (Approximately €25,499.38 to €31,758.18 or 34,465.79 (US dollar) to 42,927.64 (US dollar) or 21,476.02 (British Pounds) to 26,747.51 (British Pounds).

Eligibility to Buy

To become a buyer, you must be a Cameroonian resident in Cameroon or abroad.

How to Buy

The housing can be purchased in cash or through a loan from the Crédit Foncier du Cameroun so far as the potential buyer is legally eligible to buy one of these accommodations.

Buyers must pay in full the total cost of the accommodation into an open account of Crédit Foncier du Cameroun (CFC) or by means of a loan from the Crédit Foncier du Cameroun. To be eligible for a loan from Crédit Foncier du Cameroun, the applicant must:Homes inside

– be a Cameroonian by Nationality

– Justify a stable financial income

– have a duration of residual activity for the full repayment of loans.

Potential buyers must:
1) Submit applications to the Real Estate Company of Cameroon (SIC), comprising the following:

–          a request to purchase housing form ;

–          a photocopy of the National Identity Card (applicant and spouse)

–          a photocopy of the Marriage Act

–          Attestation of effective service presence

–          last three pay slips or other proof of income of the applicant and spouse

–          justification of belonging to the regime of minimum wage or its equivalent (for Cameroonians in the Diaspora);

–          a non-refundable fee of FCFA 20,000 payable to the SIC

–          legalized personal commitment to live in accommodation for a minimum of five years

–          an affidavit relating to bank covenants and the realization of the personal contribution.

1. For cash purchases, the contractor is directed to pay the full price of the chosen home at the counters of Crédit Foncier du Cameroun (CFC) or a CFC operating account. Payments can be made at once or in successive installments in time not exceeding 6 months. Contact CFC for more information.

2. For purchases through a loan from Crédit Foncier du Cameroun, potential buyers must first apply for a loan and meet all the criteria and eligibility for a loan. Contact Crédit Foncier du Cameroun for more details.

Upon receipt of a date and number assigned to the case, the client can visit the model homes if requested.

Forms to be filled

SIC Application to buy form
Declaration of honor with respect to banking commitments

Declaration of honor with respect to the realization of the personal contribution
Reservation contract

The complete file must be sent to the regional offices of the Real Estate Company of Cameroon (SIC).

For further information, please visit the MINHDU website or contact either SIC or Crédit Foncier du Cameroon (CFC).

Name   Email Phone
SIC – Yaounde infos@logements.cm (237) 22-22-92-48 / 22-23-49-90
SIC – Douala infos@logements.cm (237) 33-43-30-26
CFC – Yaounde Agency infos@logements.cm (237) 22-23-37-82 / 22-23-52-17
CFC – Douala Agency infos@logements.cm (237) 33-42-90-38
SIC – Commercial Space (237) 22-23-34-11

 

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