Commercial Real Estate - Ghana | Statista Market Forecast

The Ghanaian Commercial Real Estate market market is set to achieve a staggering value of US$73.14bn in 2024.
This projection indicates a promising future for the industry in Ghana.
Furthermore, it is anticipated that the market will experience a consistent annual growth rate (CAGR 2024-2029) of 5.32%, leading to a substantial market volume of US$94.80bn by 2029.
This growth trajectory demonstrates the potential for significant expansion and investment opportunities within the Commercial Real Estate market sector in Ghana.
In terms of global comparison, it is worth noting that the United States will continue to dominate the Real Estate market, generating a remarkable value of US$25.3tn in 2024.
This highlights the immense scale and influence of the US Real Estate industry on a global level.
Nonetheless, Ghana's Commercial Real Estate market market is poised to make substantial strides in the coming years, solidifying its position within the international Real Estate landscape.
The commercial real estate market in Ghana is experiencing a surge in foreign investment due to its stable political environment and growing economy.

Definition:

Commercial real estate can be defined as properties that are used for business purposes, such as office buildings, retail spaces, warehouses, and industrial properties.

Additional information:

The commercial real estate market contains the value of commercial properties as a key performance indicator. This is the worth of all office buildings, retail spaces warehouses, and industrial properties for the timeline of our data coverage.

Office buildings
Retail spaces
Warehouses
Industrial properties

Residential real estate
Publicly owned buildings used by the local government
Buildings used for public health care services

The Commercial Real Estate market in Ghana is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this positive trend. Customer preferences in the Commercial Real Estate market in Ghana are shifting towards modern and well-equipped office spaces. Businesses are increasingly looking for commercial properties that offer amenities such as high-speed internet, security systems, and ample parking spaces. Additionally, there is a growing demand for flexible office spaces that can accommodate the changing needs of businesses. Trends in the market indicate a rise in foreign investments in the Commercial Real Estate sector in Ghana. International companies are recognizing the potential of the Ghanaian market and are investing in commercial properties to establish their presence in the country. This influx of foreign investments is driving the development of new commercial projects and contributing to the overall growth of the market. Local special circumstances, such as the government's commitment to improving the business environment, are also playing a role in the development of the Commercial Real Estate market in Ghana. The government has implemented various initiatives to attract foreign investments and stimulate economic growth. These initiatives include the establishment of special economic zones and the introduction of favorable policies for foreign investors. These efforts have created a conducive environment for commercial real estate development and have attracted both local and international investors. Underlying macroeconomic factors are also contributing to the growth of the Commercial Real Estate market in Ghana. The country has experienced stable economic growth in recent years, which has resulted in increased business activities and demand for commercial properties. Additionally, the expanding middle class and urbanization have created a growing consumer market, leading to increased demand for retail and commercial spaces. In conclusion, the Commercial Real Estate market in Ghana is experiencing significant growth and development due to changing customer preferences, increasing foreign investments, local special circumstances, and underlying macroeconomic factors. The market is expected to continue its positive trajectory as more businesses recognize the potential of the Ghanaian market and invest in commercial properties.

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.

This report presents a comprehensive analysis and additional information on the Financial market, in a PDF format.

After a challenging period during the coronavirus pandemic, the European commercial real estate sector now faces additional pressures, including inflation, record-high interest rates, and sluggish economic growth. In 2022, these challenges were evident through contracting investment volumes in the two largest markets—the United Kingdom and Germany. Although the shifting economic landscape has impacted all commercial real estate subsectors, industrial and logistics—a property type that demonstrated incredible resilience during the pandemic—continues to be the most popular investment class. The performance of the sector is closely tied to the state of the economy, explaining why cities with flourishing capital markets garner the most interest from investors. In 2023, investors identified London, Paris, and Madrid as the three most attractive markets.

Growing demand for industrial and logistic real estate is prominent in Europe, driven by the increase in online retail sales rather than in-store. All the Nordic countries saw steady growth in their e-commerce sales during the past fifteen years and more, and the growth is expected to continue. Investments in the industrial and logistic real estate industry have generally been at a higher level during the last few years. The highest investment value among European countries in the first half of 2021 was in the United Kingdom, while Sweden topped the list among the Nordic countries, and was fifth in terms of industrial and logistics investment in real estate in Europe that year.