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Commercial Real Estate - Zimbabwe

Zimbabwe
  • The Commercial Real Estate market market in Zimbabwe is anticipated to achieve a value of US$38.01bn by the year 2024.
  • It is forecasted to exhibit a Compound Annual Growth Rate (CAGR) of 1.90% from 2024 to 2029, leading to a market volume of US$41.76bn by 2029.
  • When compared globally, the United States is projected to generate the highest value in the Real Estate sector, amounting to US$25.3tn in 2024.
  • Zimbabwe'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.

In-Scope

  • Office buildings
  • Retail spaces
  • Warehouses
  • Industrial properties

Out-Of-Scope

  • Residential real estate
  • Publicly owned buildings used by the local government
  • Buildings used for public health care services
Commercial Real Estate: market data & analysis  - Cover

Market Insights report

Commercial Real Estate: market data & analysis

Study Details

    Value

    Most recent update: Jul 2024

    Source: Statista Market Insights

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Jul 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Commercial Real Estate market in Zimbabwe has been experiencing significant development and growth in recent years.

    Customer preferences:
    Customers in Zimbabwe's Commercial Real Estate market have shown a strong preference for modern and well-equipped office spaces. They are increasingly seeking commercial properties that offer modern amenities and infrastructure, including high-speed internet connectivity, ample parking space, and 24/7 security. Additionally, there is a growing demand for flexible office spaces that can accommodate the needs of small and medium-sized enterprises (SMEs) and startups.

    Trends in the market:
    One of the key trends in Zimbabwe's Commercial Real Estate market is the increasing demand for mixed-use developments. These developments combine commercial spaces with residential and retail components, creating vibrant and integrated communities. This trend is driven by the desire for convenience and the need to optimize land use. Mixed-use developments provide a range of amenities and services within close proximity, making them attractive for both businesses and residents. Another trend in the market is the rise of co-working spaces. As the entrepreneurial ecosystem in Zimbabwe continues to grow, there is a growing demand for shared office spaces that foster collaboration and networking opportunities. Co-working spaces provide cost-effective solutions for startups and freelancers, allowing them to access professional workspaces without the need for long-term leases or large upfront investments.

    Local special circumstances:
    Zimbabwe's Commercial Real Estate market is influenced by several local special circumstances. One of the key factors is the availability of land for development. Land scarcity and high land prices can pose challenges for developers, limiting the supply of commercial properties in prime locations. Additionally, the political and economic situation in the country can impact investor confidence and the overall demand for commercial real estate.

    Underlying macroeconomic factors:
    The development of Zimbabwe's Commercial Real Estate market is also influenced by underlying macroeconomic factors. Economic stability, inflation rates, and interest rates play a crucial role in shaping investor sentiment and the affordability of commercial properties. Government policies and regulations related to property ownership, land use, and taxation also impact the market dynamics. Furthermore, the country's infrastructure development, including transportation networks and utilities, can affect the attractiveness of different locations for commercial real estate investment. In conclusion, the Commercial Real Estate market in Zimbabwe is witnessing significant growth and development, driven by customer preferences for modern and well-equipped office spaces, the demand for mixed-use developments, and the rise of co-working spaces. However, local special circumstances such as land scarcity and the political and economic situation in the country, as well as underlying macroeconomic factors including economic stability, inflation rates, and government policies, also shape the market dynamics.

    Methodology

    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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    Commercial Real Estate: market data & analysis  - BackgroundCommercial Real Estate: market data & analysis  - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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