Real Estate - Guyana

Guyana

The Real Estate market market in Guyana is expected to reach a value of US$25.52bn in 2024.
Among the different segments, Residential Real Estate dominates the market, with a projected market volume of US$16.81bn in 2024.
This segment is anticipated to grow at an annual growth rate (CAGR 2024-2029) of 4.86%, resulting in a market volume of US$32.36bn by 2029.
When compared globally, United States is projected to generate the highest value in the Real Estate market market, with US$132.0tn in 2024.
Guyana's real estate market is experiencing a surge in demand due to increased foreign investment in infrastructure development projects.

Key regions: United States, China, Japan, Germany, United Kingdom

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Analyst Opinion

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

Customer preferences: One of the main reasons for the growth in the Real Estate market in Guyana is the increasing demand for housing. With a growing population and a strong economy, more people are looking to invest in property and secure their own homes. Additionally, there is a rising interest in commercial real estate as businesses expand and new opportunities arise.

Trends in the market: One trend in the Guyanese Real Estate market is the construction of modern and luxurious housing developments. Developers are focusing on creating high-quality properties that offer a range of amenities and features to attract buyers. These developments often include gated communities, recreational facilities, and proximity to key locations such as schools and shopping centers. Another trend is the development of mixed-use properties, which combine residential and commercial spaces. This trend is driven by the desire for convenience and efficiency, as residents can live, work, and access amenities all in one location. Mixed-use properties also contribute to the overall urban development and revitalization of neighborhoods.

Local special circumstances: The recent discovery of oil reserves in Guyana has had a significant impact on the Real Estate market. The oil industry has brought an influx of foreign workers and investors, increasing demand for housing and commercial spaces. This has led to a surge in construction and development projects, as well as an increase in property prices.

Underlying macroeconomic factors: The growing economy of Guyana is a key factor driving the development of the Real Estate market. With a stable political environment and a focus on attracting foreign investment, the country has seen increased economic activity and job creation. This has resulted in higher disposable incomes and increased purchasing power, leading to a greater demand for real estate. Additionally, government initiatives and policies have played a role in the growth of the Real Estate market. The government has implemented measures to streamline the process of acquiring land and obtaining permits, making it easier for developers to start and complete projects. These policies have encouraged investment in the sector and have contributed to the overall development of the market. In conclusion, the Real Estate market in Guyana is experiencing significant growth and development due to factors such as increasing demand for housing, the construction of modern and luxurious developments, the discovery of oil reserves, and the country's growing economy. These trends and circumstances have created a favorable environment for investment in the real estate sector, driving its continued expansion.

Methodology

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.