The Commercial Real Estate market in Africa is experiencing significant growth and development, driven by various factors such as increasing urbanization, population growth, and a growing middle class. Customer preferences in the Commercial Real Estate market in Africa are shifting towards modern and well-designed properties that offer a range of amenities and services. Customers are also seeking properties that are located in prime locations, close to major transportation hubs and business districts. Additionally, there is a growing demand for sustainable and environmentally-friendly buildings, as customers are becoming more conscious of the impact of their real estate choices on the environment. Trends in the market include the rise of mixed-use developments, which combine residential, commercial, and retail spaces in a single property. These developments are becoming increasingly popular as they offer convenience and a variety of options for customers. Another trend is the increasing investment in commercial real estate by foreign investors, who are attracted by the potential for high returns and the untapped market opportunities in Africa. Additionally, there is a growing trend towards the development of smart buildings, which utilize technology to enhance energy efficiency, security, and overall comfort for occupants. Local special circumstances in Africa's Commercial Real Estate market include the presence of informal and unregulated property markets in many countries. These informal markets often operate outside of formal legal frameworks and can pose challenges for investors and developers. However, they also present opportunities for growth and innovation, as they cater to the needs of a large segment of the population that may not have access to formal housing options. Additionally, political stability and government policies play a crucial role in shaping the commercial real estate market in Africa, with countries that have stable governments and investor-friendly policies attracting more investment and development. Underlying macroeconomic factors that are driving the development of the Commercial Real Estate market in Africa include economic growth, urbanization, and population growth. As economies in Africa continue to grow, more businesses are being established and expanding, creating a demand for commercial properties. Urbanization and population growth are also contributing to the demand for commercial real estate, as more people move to cities and require housing, offices, and retail spaces. Additionally, favorable demographic trends, such as a young and growing population, are creating a demand for various types of real estate, including commercial properties. In conclusion, the Commercial Real Estate market in Africa is experiencing growth and development due to factors such as increasing urbanization, population growth, and changing customer preferences. The market is characterized by a shift towards modern and well-designed properties, the rise of mixed-use developments, and the increasing investment by foreign investors. Local special circumstances include the presence of informal property markets and the importance of political stability and government policies. Underlying macroeconomic factors driving the market include economic growth, urbanization, and population growth.
Data coverage:
Figures are based on value of commercial real estate.Modeling approach / Market size:
Market sizes are determined by a bottom-up approach. As a basis for evaluating this market, we use national statistical offices. Next, we use relevant key market indicators and data from country-specific associations such as share of industry, manufacturing, and services of the GPD, price level index, GDP. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the market, for example, exponential trend smoothing.Additional Notes:
The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war are considered at a country-specific level.
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