Key regions: Europe, Brazil, France, Asia, United States
The Residential Real Estate market in Guatemala has been experiencing significant growth in recent years, driven by a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Guatemalan Residential Real Estate market have been shifting towards more modern and luxurious properties. This is partly due to the increasing affluence of the middle class and their desire for higher quality homes. Additionally, there has been a growing demand for properties with amenities such as swimming pools, gyms, and green spaces, as well as those located in safe and secure neighborhoods. These preferences are in line with global trends in the Residential Real Estate market, where buyers are increasingly seeking properties that offer a high standard of living. One of the key trends in the Guatemalan Residential Real Estate market is the development of gated communities. These communities offer a range of amenities and services, including security, recreational facilities, and maintenance services. This trend is driven by the desire for safety and convenience among buyers, as well as the scarcity of available land in urban areas. Gated communities provide an attractive option for those looking for a modern and secure living environment. Another trend in the Guatemalan Residential Real Estate market is the growth of the rental market. With increasing urbanization and a growing population, there is a rising demand for rental properties, particularly in urban areas. This trend is driven by factors such as changing demographics, where young professionals and students are opting to rent rather than buy, as well as the flexibility and convenience that renting offers. This trend is not unique to Guatemala and is seen in many other countries around the world. Local special circumstances also play a role in the development of the Residential Real Estate market in Guatemala. One of these circumstances is the high rate of urbanization, with more and more people moving from rural areas to cities in search of better job opportunities and a higher standard of living. This has led to increased demand for housing in urban areas, particularly in the capital city of Guatemala City. Additionally, the country's natural beauty and tourism potential make it an attractive destination for foreign buyers, further driving demand in the market. Underlying macroeconomic factors have also contributed to the growth of the Residential Real Estate market in Guatemala. The country has experienced steady economic growth in recent years, with a stable political environment and favorable investment climate. This has attracted both domestic and foreign investors to the Real Estate sector, driving up demand and prices. Additionally, low interest rates and favorable lending conditions have made it easier for buyers to access financing, further stimulating the market. In conclusion, the Residential Real Estate market in Guatemala is experiencing significant growth due to customer preferences for modern and luxurious properties, the development of gated communities, the growth of the rental market, local special circumstances such as urbanization and tourism potential, and underlying macroeconomic factors such as economic growth and favorable lending conditions. These factors are driving demand and prices in the market, making it an attractive investment opportunity for both domestic and foreign buyers.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
