Key regions: United States, China, Japan, Germany, United Kingdom
The Real Estate market in Ethiopia is experiencing significant growth and development in recent years.
Customer preferences: One of the main customer preferences in the Ethiopian Real Estate market is the demand for affordable housing. With a growing population and increasing urbanization, there is a high demand for housing units that are affordable for the majority of the population. Additionally, customers are also looking for properties that offer modern amenities and infrastructure, such as access to clean water, electricity, and good transportation links.
Trends in the market: One of the key trends in the Ethiopian Real Estate market is the development of gated communities and housing complexes. These developments offer a range of amenities and services, such as security, recreational facilities, and community spaces, which are highly attractive to customers. This trend is driven by the desire for a higher quality of life and a sense of community among residents. Another trend in the market is the increasing interest in commercial real estate. As Ethiopia's economy continues to grow, there is a rising demand for office spaces, retail outlets, and industrial facilities. This trend is fueled by the expansion of businesses and the need for suitable commercial spaces to accommodate their operations.
Local special circumstances: One of the unique aspects of the Ethiopian Real Estate market is the government's focus on affordable housing. The government has implemented various initiatives and policies to address the housing needs of the population, including the development of low-cost housing projects and the provision of subsidies for first-time homebuyers. This focus on affordable housing has contributed to the growth of the market and the increased availability of housing options for the population.
Underlying macroeconomic factors: The growth and development of the Real Estate market in Ethiopia can be attributed to several underlying macroeconomic factors. Firstly, the country has experienced strong economic growth in recent years, which has resulted in increased disposable income and improved living standards for many Ethiopians. This has contributed to the demand for better housing options and the willingness to invest in real estate. Additionally, the government's commitment to infrastructure development has played a significant role in the growth of the Real Estate market. The construction of new roads, bridges, and other infrastructure projects has improved accessibility to different areas, making them more attractive for real estate development. Furthermore, the government's efforts to attract foreign direct investment have also had a positive impact on the Real Estate market, as foreign investors are increasingly investing in the construction of residential and commercial properties. In conclusion, the Real Estate market in Ethiopia is experiencing growth and development due to customer preferences for affordable housing and modern amenities, as well as the trends of gated communities and commercial real estate. The government's focus on affordable housing, along with strong macroeconomic factors such as economic growth and infrastructure development, are driving the expansion 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.
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