Residential Real Estate - Ivory Coast

Ivory Coast

The Residential Real Estate market market in Ivory Coast is expected to reach a projected value of US$318.10bn in 2024.
This market segment is anticipated to experience a compound annual growth rate (CAGR 2024-2029) of 5.25%, leading to a market volume of US$410.90bn by 2029.
When compared globally, China is expected to generate the highest value in the Real Estate market, with an estimated worth of US$112.9tn in 2024.
The demand for luxury apartments in Ivory Coast has been steadily increasing, especially in upscale neighborhoods like Cocody and Marcory.

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

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Analyst Opinion

The Residential Real Estate market in Ivory Coast is experiencing significant development and growth.

Customer preferences: Customers in Ivory Coast are increasingly seeking residential properties that offer modern amenities and are located in well-developed neighborhoods. The demand for properties with features such as gated communities, security systems, and access to recreational facilities has been on the rise. Additionally, customers are looking for properties that are close to essential amenities such as schools, hospitals, and shopping centers.

Trends in the market: One of the key trends in the residential real estate market in Ivory Coast is the increasing demand for affordable housing options. With a growing population and urbanization, there is a need for more housing units at affordable prices. Developers are responding to this trend by focusing on the construction of affordable housing projects that cater to the needs of the middle-income segment of the population. Another trend in the market is the rise of mixed-use developments. These developments combine residential, commercial, and recreational spaces in one location, providing residents with convenience and access to various amenities. Mixed-use developments are becoming increasingly popular in Ivory Coast as they offer a holistic living experience and cater to the evolving needs of customers.

Local special circumstances: Ivory Coast has experienced political stability in recent years, which has had a positive impact on the real estate market. The government has implemented policies and initiatives to attract foreign investment and promote economic growth, which has contributed to the development of the residential real estate sector. Additionally, the country's strong economic growth has resulted in an increase in disposable income, allowing more individuals to invest in residential properties.

Underlying macroeconomic factors: Ivory Coast's strong economic growth, driven by sectors such as agriculture, manufacturing, and services, has had a positive impact on the residential real estate market. The country's GDP growth has created a favorable environment for investment in the real estate sector, attracting both local and foreign investors. Additionally, the government's efforts to improve infrastructure and promote urbanization have further stimulated the demand for residential properties. In conclusion, the residential real estate market in Ivory Coast is experiencing significant growth and development. Customer preferences are shifting towards modern amenities and well-developed neighborhoods, while trends such as affordable housing and mixed-use developments are shaping the market. The country's political stability, strong economic growth, and government initiatives to attract investment have created a favorable environment for the residential real estate sector.

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.