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Key regions: Europe, Brazil, France, Asia, United States
The Residential Real Estate market in Northern Africa is experiencing significant growth and development in recent years.
Customer preferences: Customers in Northern Africa are increasingly looking for residential properties that offer modern amenities and facilities. There is a growing demand for properties that provide a high standard of living, such as gated communities with security features, swimming pools, and fitness centers. Additionally, customers are seeking properties that are located in convenient locations, with easy access to schools, hospitals, and shopping centers.
Trends in the market: One of the key trends in the Residential Real Estate market in Northern Africa is the rise of affordable housing projects. Developers are focusing on providing housing options that are affordable for the middle-income segment of the population. This trend is driven by the increasing urbanization in the region, as more people move from rural areas to cities in search of better job opportunities and improved living standards. Another trend in the market is the growing interest in sustainable and eco-friendly properties. Customers are becoming more conscious about the environmental impact of their homes and are looking for properties that incorporate green features such as solar panels, rainwater harvesting systems, and energy-efficient appliances. This trend is in line with the global shift towards sustainable living and is driven by both customer preferences and government regulations promoting green building practices.
Local special circumstances: One of the special circumstances in the Residential Real Estate market in Northern Africa is the presence of a large young population. This demographic factor is driving the demand for residential properties, as young people are looking to establish their own households and invest in property. Additionally, the region's growing middle class is contributing to the demand for residential real estate, as more people have the financial means to purchase homes.
Underlying macroeconomic factors: The growth and development of the Residential Real Estate market in Northern Africa are supported by several macroeconomic factors. Economic stability and favorable government policies are attracting both domestic and foreign investments in the real estate sector. Additionally, the region's strong economic growth and increasing urbanization are driving the demand for residential properties. The availability of mortgage financing options and low interest rates are also contributing to the growth of the market, making it easier for customers to purchase homes. In conclusion, the Residential Real Estate market in Northern Africa is experiencing significant growth and development, driven by customer preferences for modern amenities and convenient locations. The rise of affordable housing projects and the demand for sustainable properties are also shaping the market. The presence of a large young population and favorable macroeconomic factors are further fueling the growth of the market.
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)