Commercial Real Estate - Togo | Statista Market Forecast

The Commercial Real Estate market market in Togo is expected to reach a value of US$9.41bn in 2024.
This projection indicates a steady annual growth rate of 1.94% from 2024 to 2029.
By 2029, the market volume is projected to reach US$10.36bn.
When compared globally, the United States is anticipated to generate the highest value in the Real Estate market, with an estimated worth of US$25.3tn in 2024.
Togo's commercial real estate market is experiencing a surge in demand, driven by increased foreign investment and a 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 Togo is experiencing significant growth and development.

Customer preferences: Customers in Togo are increasingly looking for commercial real estate properties that offer modern amenities and facilities. They prefer properties that are well-maintained and provide a comfortable working environment. Additionally, there is a growing demand for properties that are located in prime areas with easy access to transportation and other essential services.

Trends in the market: One of the key trends in the commercial real estate market in Togo is the increasing construction of office buildings and retail spaces. This is driven by the growing number of businesses and the expansion of the retail sector. The demand for office spaces is fueled by the emergence of startups and small businesses, while the retail sector is benefiting from the rising consumer spending. Another trend in the market is the development of mixed-use properties. Developers are now focusing on creating properties that combine commercial spaces with residential units and entertainment facilities. This trend is driven by the desire to create vibrant and sustainable communities where people can live, work, and play in one location.

Local special circumstances: Togo's strategic location in West Africa makes it an attractive destination for businesses looking to expand their operations in the region. The country has a stable political environment and a relatively low cost of doing business, which further enhances its appeal. Additionally, the government of Togo has implemented various reforms to attract foreign investment and promote economic growth, including the establishment of special economic zones.

Underlying macroeconomic factors: The commercial real estate market in Togo is benefiting from the country's strong economic growth. The government has implemented policies to diversify the economy and attract foreign investment, which has led to an increase in business activity and job creation. This has resulted in a higher demand for commercial properties, especially office spaces and retail outlets. Furthermore, Togo's growing middle class and rising urbanization rate are driving the demand for commercial real estate. As more people move to cities and their disposable incomes increase, there is a greater need for shopping centers, restaurants, and other commercial establishments. In conclusion, the Commercial Real Estate market in Togo is experiencing significant growth and development due to customer preferences for modern and well-located properties, the construction of office buildings and retail spaces, the development of mixed-use properties, Togo's strategic location and favorable business environment, and the country's strong economic growth and rising urbanization rate.

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.