Real Estate - Guinea | Statista Market Forecast

The Real Estate market market in Guinea is expected to reach a projected value of US$434.70bn in 2024.
Within this market, Residential Real Estate holds the dominant position with a projected market volume of US$398.70bn in 2024.
Furthermore, it is anticipated that the market will experience an annual growth rate (CAGR 2024-2029) of 9.29%, leading to a market volume of US$677.60bn by 2029.
When comparing globally, United States is anticipated to generate the highest value in the Real Estate market sector, with an estimated worth of US$132.0tn in 2024.
The real estate market in Guinea is experiencing a surge in demand for affordable housing due to population growth and urbanization.

Definition:

The real estate market refers to the transaction of properties, including residential properties (such as houses and apartments) and commercial properties, such as office buildings and industrial properties. Apart from property sales, this market includes leases and the value of real estate.

Structure:

The real estate market comprises residential and commercial real estate. The residential real estate market covers real estate transactions and leases, and residential real estate leases are divided into apartment and house leases.

Additional information:

The market contains the following KPIs: real estate value aggregated for all countries and regions, average real estate value, real estate transaction revenue, number of real estate sold, number of leased and owned real estate, average room per resident, and dwelling type shares. The dwelling type shares comprise the share of the population that lives in houses and apartments. These shares are displayed for real estate owners and real estate renters as well.

Residential real estate (houses and apartments)
Commercial real estate (office buildings, retail spaces, warehouses, industrial properties)

Real estate agencies
Construction companies
Accommodation services, such as Airbnb
Commercial real estate leases and transactions
Publicly owned buildings used by the local government
Buildings used for public health care services

The Real Estate market in Guinea is experiencing significant growth and development in recent years.

Customer preferences: Customers in Guinea are increasingly seeking properties that offer modern amenities and facilities. There is a growing demand for residential properties that provide comfortable living spaces, such as apartments or houses with multiple bedrooms and bathrooms. Additionally, customers are also looking for properties that are located in well-developed areas with good infrastructure and access to basic amenities like schools, hospitals, and shopping centers.

Trends in the market: One of the key trends in the Real Estate market in Guinea is the construction of high-rise buildings and gated communities. This trend is driven by the increasing urbanization and the need to accommodate the growing population in urban areas. Developers are focusing on constructing multi-story buildings that can accommodate a large number of residential units. Gated communities are also becoming popular, as they offer a sense of security and exclusivity to residents. Another trend in the market is the development of commercial properties, such as office spaces and retail centers. With the growth of the economy and the increase in business activities, there is a rising demand for commercial properties. Developers are capitalizing on this demand by constructing office buildings and shopping malls to cater to the needs of businesses and consumers.

Local special circumstances: Guinea is a country with a rich cultural heritage and natural beauty. This has led to the development of luxury properties that cater to high-end customers. These properties are designed to provide a luxurious living experience and often come with amenities such as swimming pools, gyms, and landscaped gardens. The demand for luxury properties is driven by the affluent population in Guinea and the desire for a high standard of living.

Underlying macroeconomic factors: The Real Estate market in Guinea is influenced by several macroeconomic factors. One of the key factors is the overall economic growth of the country. As the economy expands, there is an increase in disposable income, which leads to higher demand for properties. Additionally, the stability of the political and regulatory environment also plays a crucial role in attracting investors and driving growth in the Real Estate market. Another important factor is the availability of financing options. Access to affordable and flexible financing options makes it easier for customers to purchase properties. This, in turn, stimulates demand in the Real Estate market. In conclusion, the Real Estate market in Guinea is witnessing growth and development due to customer preferences for modern amenities, the construction of high-rise buildings and gated communities, the development of commercial properties, the demand for luxury properties, and the underlying macroeconomic factors such as economic growth and availability of financing options.

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.

This report presents a comprehensive analysis and additional information on the Financial market, in a PDF format.

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Real Estate - Guinea

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