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Residential Real Estate Leases - Cameroon

Cameroon

Cameroon is projected to witness a significant growth in its Residential Real Estate Leases market market.
The revenue of this market is expected to reach US$26.60bn in 2024.
House Leases is the dominant segment within this market, with a projected market volume of US$22.72bn in the same year.
This indicates the strong demand for residential properties in Cameroon.
Looking ahead, the market is expected to maintain a steady growth trajectory.
It is projected to exhibit an annual growth rate of 10.82% during the period of 2024-2029 (CAGR 2024-2029).
This growth rate will result in a market volume of US$44.46bn by 2029.
These figures highlight the promising prospects for the Residential Real Estate Leases market market in Cameroon, underscoring its potential as a lucrative sector for investors and stakeholders.
Despite the challenges of the current economic climate, the residential real estate lease market in Cameroon is experiencing steady growth due to increasing urbanization and a rising middle class.

Key regions: Japan, China, Australia, Germany, United States

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Analyst Opinion

The Residential Real Estate Leases market in Cameroon is experiencing significant growth and development.

Customer preferences: Customers in Cameroon are increasingly opting for residential real estate leases due to several factors. Firstly, leasing provides flexibility and affordability compared to purchasing a property. Many individuals and families prefer to lease a property rather than commit to a long-term mortgage, allowing them to have more financial freedom and flexibility. Additionally, leasing offers the opportunity to live in desirable locations that may be unaffordable for purchasing a property. This is particularly appealing to young professionals and expatriates who value convenience and proximity to amenities.

Trends in the market: One of the key trends in the residential real estate leases market in Cameroon is the increasing demand for modern and well-equipped properties. Customers are seeking properties with modern amenities such as high-speed internet, security systems, and recreational facilities. This trend is driven by the growing middle class and the desire for a higher standard of living. Property developers and landlords are responding to this demand by investing in the development of new properties that cater to these preferences. Another trend in the market is the rise of co-living and shared housing options. With the increasing cost of living and housing expenses, many individuals are opting to share accommodation to reduce costs. This trend is especially popular among young professionals and students who are looking for affordable housing options without compromising on quality. Landlords and property owners are adapting to this trend by offering shared housing options and creating co-living spaces that provide a sense of community and shared amenities.

Local special circumstances: Cameroon's growing population and urbanization rate are major factors contributing to the development of the residential real estate leases market. As more people migrate to urban areas in search of better job opportunities and improved living standards, the demand for housing continues to increase. This creates opportunities for property developers, landlords, and investors to meet the growing demand by providing residential real estate leases.

Underlying macroeconomic factors: Cameroon's stable economic growth and improving business environment are attracting foreign direct investment, which is positively impacting the residential real estate leases market. The government's efforts to improve infrastructure and promote urban development are also creating favorable conditions for the market. Additionally, the country's favorable demographic profile, with a young and growing population, provides a strong customer base for the residential real estate leases market. In conclusion, the residential real estate leases market in Cameroon is experiencing growth and development due to customer preferences for flexibility, affordability, and modern amenities. The rise of co-living and shared housing options, along with the country's growing population and urbanization rate, are contributing to the market's expansion. With stable economic growth and a favorable business environment, Cameroon presents opportunities for property developers, landlords, and investors in the residential real estate leases market.

Methodology

Data coverage:

Figures are based on total and average revenue of residential apartment leases.

Modeling approach:

Market size is determined by a 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 considered at a country-specific level.