Residential Real Estate - Guinea | Statista Market Forecast

The Residential Real Estate market market in Guinea is anticipated to reach a value of US$398.70bn in 2024.
It is projected to exhibit a compound annual growth rate (CAGR 2024-2029) of 9.75%, leading to a market volume of US$635.00bn by 2029.
When compared globally, China is expected to generate the highest Real Estate value, amounting to US$112.9tn in 2024.
The residential real estate market in Guinea is experiencing a surge in demand due to increased urbanization and foreign investment.

Definition:

The residential real estate market covers the leases and transactions of residential properties. Residential real estate leases refer to the market where landlords and tenants enter into agreements for the rental of residential properties, such as apartments, houses, and condominiums, while residential real can be defined as buying, selling, or transfer of ownership of residential properties.

Structure:

The residential real estate market covers real estate transactions and leases, and the section, residential real estate leases, is 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 for real estate renters as well.

Residential real estate transactions
Residential real estate leases

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 Residential Real Estate market in Guinea is experiencing significant growth and development, driven by various factors including customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Residential Real Estate market in Guinea are shifting towards modern and well-designed homes that offer comfort and convenience. Homebuyers are increasingly looking for properties that are equipped with modern amenities such as swimming pools, gyms, and landscaped gardens. Additionally, there is a growing demand for properties located in gated communities or secure neighborhoods, as safety and security are becoming increasingly important considerations for buyers. Trends in the market indicate a growing interest in sustainable and eco-friendly homes. Homebuyers are increasingly seeking properties that are energy-efficient and incorporate environmentally-friendly features such as solar panels and rainwater harvesting systems. This trend is driven by a global shift towards sustainability and a growing awareness of the impact of climate change. Developers in Guinea are responding to this trend by incorporating green building practices and sustainable design principles into their projects. Local special circumstances in Guinea also play a role in the development of the Residential Real Estate market. The country's rapid urbanization and population growth are driving the demand for housing, particularly in urban areas. As more people migrate from rural areas to cities in search of better economic opportunities, the demand for residential properties continues to increase. This has led to the construction of new housing developments and the expansion of existing ones to meet the growing demand. Underlying macroeconomic factors also contribute to the development of the Residential Real Estate market in Guinea. The country's stable economic growth and increasing disposable income levels have resulted in a rise in purchasing power among the population. This has led to an increase in demand for residential properties, as more people are able to afford homeownership. Additionally, low interest rates and favorable mortgage policies have made it easier for individuals to access financing for purchasing properties, further stimulating the market. In conclusion, the Residential Real Estate market in Guinea is experiencing growth and development driven by customer preferences for modern and well-designed homes, trends towards sustainable and eco-friendly properties, local special circumstances such as rapid urbanization, and underlying macroeconomic factors including stable economic growth and favorable financing conditions. These factors are shaping the market and driving the demand for residential properties in Guinea.

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.

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

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Residential Real Estate - Guinea

Value

Volume

Analyst Opinion

Transaction Value

Revenue

Household Type

Living Space

Methodology

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