New land reference prices are set to take effect once they receive final approval from Cabinet, a move expected to influence property transactions and land valuation across the country, The New Times has learnt.

The revised prices are intended to reflect current market conditions and provide an updated basis for assessing the value of land.

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The official land reference price list, which by law should be updated annually, has not been revised since 2021.

The Institute of Real Property Valuers (IRPV) published reference prices in 2018 and again in 2021.

Five years later, the official prices no longer reflect market realities, creating tensions in property valuation, expropriation and private transactions.

A mini-survey by The New Times found that in Kagarama Village, Biryogo Cell, Gashora Sector in Bugesera District, a 300-square-metre plot is selling for about Rwf8 million, equivalent to roughly Rwf26,000 per square metre—10 times the Rwf2,600 listed in the official gazette.

ALSO READ: Why official land prices no longer reflect reality

In Nyamata City’s Busengera area, plots now sell for about Rwf17 million, equivalent to Rwf36,000 per square metre, while the gazette still sets the maximum at Rwf11,074.

In Rugando, Kacyiru Sector, the official maximum price is Rwf79,000 per square metre, while market rates have risen above Rwf200,000.

Property valuers say the examples highlight the widening gap between official reference prices and actual market values, a disparity that has been exacerbated by the failure to update the list for five years.

John Mugisha, Chairperson of the Institute of Real Property Valuers (IRPV), which is mandated to update the list, told The New Times that the revised land reference prices had been prepared and submitted to relevant institutions for review.

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The land reference prices are prepared by the IRPV through its Regulatory Council, which submits them to the Ministry of Environment before they are forwarded to Cabinet for approval and publication in the Official Gazette.

The Regulatory Council is appointed by Cabinet, while the Director General of the National Land Authority serves as its chairperson.

The council comprises representatives from various institutions, including the Ministry of Environment, Ministry of Infrastructure, National Bank of Rwanda (BNR), Bankers’ Association, Private Sector Federation (PSF), Institute of Real Property Valuers and others.

"The updated reference prices have been submitted to the Ministry of Environment for review, which has to submit them to the Cabinet for approval. We have learnt that the Ministry of Environment was preparing to submit the updated prices to the Cabinet. The last comments or inputs on the proposed prices were made at the beginning of 2026,” Mugisha said.

Updating land reference prices requires data collection and analysis across more than 14,000 villages nationwide.

At the beginning of 2026, the National Land Authority said the delay had largely been driven by efforts to strengthen the valuation methodology.

The revised list was expected to be published no later than June this year.

New property valuation fees

While explaining the new property valuation fees and the process of updating land reference prices, Jean Yves Ryumeho, a property valuation specialist at the National Land Authority (NLA), said the fee structure for property valuation had already been approved and published.

However, he said, the updated land reference prices were still being discussed at ministerial level before Cabinet approval.

ALSO READ: New property valuation fees: Homeowners to pay from Rwf90, 000

The Regulatory Council of the Institute of Real Property Valuers in Rwanda (IRPV) has approved new charges for property valuation, with owners of ordinary single-family homes set to pay at least Rwf90,000 to have their property professionally assessed.

The new property valuation fees replace the fee structure introduced in 2018.

205 property valuation firms licensed

The Council of Regulation of the Real Property Valuation Profession in Rwanda has also published the official list of 205 licensed firms authorised to provide real property valuation services for the 2026 calendar year.

The list, signed by Grace Nishimwe, the council’s chairperson, is in line with the Valuers Registration Policy of January 2026.

The register is intended to help stakeholders identify qualified and authorised service providers and strengthen confidence in valuation services.

"In accordance with the governing legal and regulatory framework, all public institutions, government agencies, local government entities, state-owned enterprises, private companies, financial institutions, development partners, and individual clients are required to engage licensed valuation firms when procuring professional valuation services.

"Valuation reports prepared by unlicensed persons or firms do not meet the professional standards and regulatory requirements established by the Council,” reads the council’s statement.