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Key regions: United States, China, Japan, Germany, United Kingdom
The Real Estate market in Eastern Africa has been experiencing significant growth and development in recent years. Customer preferences in the Real Estate market in Eastern Africa are shifting towards more modern and luxurious properties. With the increasing urbanization and rising middle class in the region, there is a growing demand for high-quality housing and commercial spaces. Customers are looking for properties that offer modern amenities, such as swimming pools, gyms, and 24-hour security. Additionally, there is a rising interest in eco-friendly and sustainable buildings, as customers become more conscious of environmental issues. Trends in the market show a strong focus on residential properties, particularly in major cities like Nairobi, Kampala, and Dar es Salaam. The demand for housing is driven by population growth, rural-urban migration, and the expansion of industries in these cities. Developers are responding to this demand by constructing more residential buildings, including apartments and gated communities. In addition, there is a growing trend of mixed-use developments, which combine residential, commercial, and retail spaces in one complex. Local special circumstances, such as land availability and infrastructure development, play a crucial role in the Real Estate market in Eastern Africa. Land is a valuable and limited resource in the region, which has led to increased competition and rising property prices. Developers are often faced with challenges in acquiring suitable land for their projects. Furthermore, the lack of adequate infrastructure, such as roads and utilities, can hinder the development of real estate projects. Underlying macroeconomic factors contribute to the growth of the Real Estate market in Eastern Africa. Economic stability and positive GDP growth in countries like Kenya, Uganda, and Tanzania have attracted both local and foreign investors to the real estate sector. Additionally, government policies and initiatives aimed at promoting the real estate market, such as tax incentives and streamlined regulatory processes, have also contributed to the growth of the sector. In conclusion, the Real Estate market in Eastern Africa is experiencing significant growth and development, driven by shifting customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The demand for modern and luxurious properties, particularly in major cities, is on the rise. Developers are responding to this demand by constructing more residential and mixed-use developments. However, challenges such as land availability and infrastructure development need to be addressed to sustain the growth of the market.
Data coverage:
Figures are based on value of residential and commercial real estate, average real estate value, residential estate transactions and leases.Modeling approach / Market size:
Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use data from international organizations and industry associations. Next we use relevant key market indicators and data from country-specific associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita. 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 particular market. For example, exponential trend smoothing. The main drivers are GDP per capita, population, number of renter and owner households, price level index, housing consumer spending per capita.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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)