Property Prices in Mekelle City, Ethiopia

Find out actual data about & Safety Index in Mekelle City, Ethiopia

Price to Income Ratio 31.83
Mortgage as Percentage of Income 519.61%
Loan Affordability Index 0.19
Price to Rent Ratio – City Centre 11.03
Price to Rent Ratio – Outside of Centre 15.60
Gross Rental Yield (City Centre) 9.07%
Gross Rental Yield (Outside of Centre) 6.41%
country data (source The World Bank, 2021)
GDP Per Capita ($) 2,221.00
GDP Growth Rate 10.90%
Population Growth Rate 2.50%

Rent Per Month in Ethiopia

Apartment (1 bedroom) in City Centre 472.06$ 213$ – 900$
Apartment (1 bedroom) Outside of Centre 233.39$ 92$ – 450$
Apartment (3 bedrooms) in City Centre 1754.82$ 1000$ – 2700$
Apartment (3 bedrooms) Outside of Centre 650.38$ 350$ – 1000$

Buy Apartment Price in Ethiopia

Price per Square Meter to Buy Apartment in City Centre 1680$ 1020$ – 2586$
Price per Square Meter to Buy Apartment Outside of Centre 990.25$ 422$ – 1500$

Salaries And Financing in Ethiopia

Average Monthly Net Salary (After Tax) 209.73$ 0$ – 0$
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 15.59$ 12$ – 17$

These data are based on 3293 entries in the past 9 months from 455 different contributors.

Last update: August 2023

Our data for each country is based on all entries from all cities in that country.

Property Prices in Mekelle City in 2023 and 2024 Prediction

Housing costs are an important factor for quality of life in Mekelle City. According to statistics, the average price per square meter of property in Mekelle City is around 1680$
in the city center and 233$ in outskirts. Rental prices for a one-bedroom apartment in the city center average 472$ per month.
Property price growth has risen in recent years, making housing less affordable. Rental yields range from 3%.
While carrying some premium over national averages, overall housing in Mekelle City remains reasonably priced compared to similar sized cities globally.
This reduces disposable income and cost of living for residents.

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Property Prices Rates & Safety Index in Ethiopia

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