Real Estate - Honduras | Statista Market Forecast

The Real Estate market market in Honduras is projected to reach a value of US$175.70bn in 2024.
Residential Real Estate dominates this market, with a projected market volume of US$146.10bn in the same year.
It is expected to show an annual growth rate (CAGR 2024-2029) of 5.12%, resulting in a market volume of US$225.50bn by 2029.
In global comparison, United States is expected to generate the highest value in the Real Estate market sector, with US$132.0tn in 2024.
Despite economic challenges, the real estate market in Honduras is steadily growing due to increasing demand from both local and foreign investors.

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 Honduras has been experiencing steady growth in recent years. Customer preferences in the market are shifting towards more modern and sustainable housing options. This is driven by the increasing awareness of environmental issues and the desire for energy-efficient homes. Customers are also looking for properties that offer amenities such as security, parking, and proximity to schools, hospitals, and shopping centers. In addition, there is a growing demand for affordable housing options, as many people in Honduras are looking to buy their first homes. One of the trends in the market is the development of gated communities. These communities offer a sense of security and often include amenities such as swimming pools, parks, and communal areas. They are particularly popular among families and retirees who are looking for a safe and comfortable living environment. Another trend in the market is the rise of mixed-use developments. These developments combine residential, commercial, and retail spaces in one location. They offer convenience and the opportunity for residents to live, work, and shop in the same area. Mixed-use developments are especially attractive to young professionals who value a live-work-play lifestyle. Local special circumstances in Honduras contribute to the development of the Real Estate market. The country has a growing middle class with increasing purchasing power, which is driving demand for housing. Additionally, the government has implemented policies to attract foreign investment in the real estate sector, which has led to the development of luxury properties and resorts in tourist areas. Underlying macroeconomic factors also play a role in the development of the Real Estate market in Honduras. The country has experienced stable economic growth in recent years, which has increased disposable income and consumer confidence. Low interest rates and favorable mortgage conditions have also made it easier for people to buy homes. In conclusion, the Real Estate market in Honduras is developing in response to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The shift towards modern and sustainable housing options, the development of gated communities and mixed-use developments, and the growing middle class and foreign investment are all contributing to the growth of the market. With stable economic growth and favorable mortgage conditions, the future of the Real Estate market in Honduras looks promising.

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 - Honduras

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