Residential Real Estate - Gabon

Gabon

in Gabon, a country Central_Africa, is witnessing significant growth in its Residential Real Estate market market.
According to projections, by 2024, the market is expected to reach a value of US$24.16bn.
This growth is anticipated to continue with an annual growth rate (CAGR 2024-2029) of 4.17%, resulting in a market volume of US$29.64bn by 2029.
When compared globally, it's worth noting that the Chinese market is set to dominate the Residential Real Estate market sector.
In 2024 alone, China is projected to generate a staggering value of US$112.9tn, showcasing its robust position in the industry.
Residential real estate in Gabon is experiencing a surge in demand due to the country's growing economy and increasing urbanization.

Key regions: Europe, Brazil, France, Asia, United States

Market

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Analyst Opinion

The Residential Real Estate market in Gabon has been experiencing significant growth and development in recent years. Customer preferences in the Gabonese Residential Real Estate market have been shifting towards modern and luxurious properties. Buyers are increasingly looking for homes that offer modern amenities, such as high-end kitchens, spacious living areas, and state-of-the-art technology. Additionally, there is a growing demand for properties that provide a sense of security, such as gated communities or properties with advanced security systems. One of the key trends in the Gabonese Residential Real Estate market is the construction of high-rise apartment buildings. This trend is driven by several factors, including the increasing population density in urban areas and the desire for more affordable housing options. High-rise apartments offer a solution to the limited land availability in urban areas, allowing developers to maximize the use of limited space. These developments often include a range of amenities, such as swimming pools, fitness centers, and communal spaces, which are attractive to buyers. Another trend in the Gabonese Residential Real Estate market is the development of eco-friendly properties. With growing awareness of environmental issues, buyers are increasingly looking for homes that are energy-efficient and environmentally sustainable. Developers are incorporating green building practices and technologies, such as solar panels and rainwater harvesting systems, into their projects to meet this demand. Local special circumstances in Gabon, such as the country's rich natural resources and growing economy, have contributed to the development of the Residential Real Estate market. The country's oil and mineral wealth have attracted foreign investment and contributed to economic growth, resulting in an increase in the number of high-net-worth individuals who are able to invest in real estate. Additionally, the government has implemented policies to encourage foreign investment in the real estate sector, further fueling market growth. Underlying macroeconomic factors, such as population growth and urbanization, have also played a role in the development of the Gabonese Residential Real Estate market. As the population continues to grow and more people move to urban areas in search of better job opportunities, the demand for housing has increased. This has created opportunities for developers to meet the growing demand and has contributed to the overall growth of the market. Additionally, favorable interest rates and government incentives for homebuyers have made it easier for individuals to enter the market, further driving demand. Overall, the Residential Real Estate market in Gabon is experiencing growth and development due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The market is expected to continue to evolve as buyers' preferences and economic conditions change.

Methodology

Data coverage:

Figures are based on total and average value of residential real estate, residential estate transactions and leases.

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. We use national statistics, international organizations, and industry associations to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country specific industry associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market, for instance, 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:

Data is modeled using current exchange rates. 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.