In a decree published late last week, the Prime Minister sets minimal prices for sale of lands for residential uses.
Everything is now clear for who wants to buy land owned by the private domain of the State. Rates for a meter square per region were fixed by the Prime Minister, head of Government, in a decree dating from September 29, 2014.
Overall, the price range varies between 200 F (in districts such as Messok, Isangélé or Tiko) and 10,000 F meter square, especially in the Mfoundi and Wouri. As stated in article 2 of the Decree, these prices apply only to the land for residential use.
For land for commercial use, multiply these rates by two. Instead of 2 500 F for one metre square (residential) in the Borough of Bangangté, buyer shall pay 5,000 F if he seeks the land for commercial use. On the other hand, if it is intended for industrial use, it will be 1,250 F per square metre, which is half the minimum price of land for residential use.
In setting these rates, the Government had also in heart to encourage businessmen to develop social and cultural infrastructure. In fact, for those who seek the private domain of the State for social or cultural use, they pay at least 1/4 of the price of land for residential use.
Instead of 10,000 F for one metre square in the District of Douala, they pay only 2,500 F while those who purchase the ground for a cultural use, will still spend less, or 2,000 F per square metre, representing one-fifth of the price of land for residential use. For land for agricultural use, the minimum price is practised for the same use domain fields.
The annual royalties payable for leases on the dependencies of the field national are, depending on the use of such dependencies, fixed at 25% for the land for residential use, 50% for the land for commercial use, 10% for the land for industrial use, 5% for the land to agricultural use and 1% for the ground for cultural and social purposes.
For mining, the rate per year is 1,000 F per square metre. After article 6 of the Decree, "in case of continuous occupancy by the same person and for the same use, these annual fees are reviewable every five years up to 0 to 10% of the initial rate."
