Key regions: United States, China, Japan, Germany, United Kingdom
The Real Estate market in Gambia is experiencing significant growth and development in recent years.
Customer preferences: Customers in Gambia are increasingly interested in investing in the real estate market due to the potential for high returns on investment. The demand for residential properties, particularly in urban areas, is on the rise as more people are looking to own their own homes. Additionally, there is a growing interest in commercial properties, as businesses are expanding and seeking suitable spaces for their operations.
Trends in the market: One of the key trends in the real estate market in Gambia is the construction of new housing projects. Developers are building modern and affordable housing units to meet the increasing demand from potential buyers. These new developments are attracting both local and foreign investors, further driving the growth of the market. Additionally, there is a trend towards the development of mixed-use properties, combining residential and commercial spaces in a single building or complex. This trend caters to the needs of urban dwellers who prefer to live in close proximity to their workplaces and other amenities.
Local special circumstances: Gambia's real estate market is also influenced by local special circumstances. The country's strategic location as a popular tourist destination has a significant impact on the market. The tourism industry is a major driver of economic growth, and the demand for vacation homes and rental properties is high. This has led to the development of luxury resorts and holiday villas, catering to both domestic and international tourists. Additionally, Gambia's stable political environment and government initiatives to attract foreign investment have created a favorable climate for real estate development.
Underlying macroeconomic factors: Several underlying macroeconomic factors contribute to the growth of the real estate market in Gambia. The country's strong economic growth and increasing disposable income have resulted in a higher demand for real estate. Additionally, the government's efforts to improve infrastructure, such as roads and utilities, have made previously inaccessible areas more attractive for real estate development. Furthermore, Gambia's young and growing population, coupled with urbanization trends, has created a need for more housing and commercial spaces. These factors, combined with favorable investment policies, have attracted both local and foreign investors to the real estate market in Gambia.
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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