Residential Real Estate Leases - Gambia

In Gambia, the revenue of the Residential Real Estate Leases market market is projected to reach US$1.71bn in 2024.
Within this market segment, House Leases dominate with a projected market volume of US$1.38bn in 2024.
It is expected that the revenue will show an annual growth rate (CAGR 2024-2029) of 3.67%, leading to a market volume of US$2.04bn by 2029.
Gambia's residential real estate lease market is experiencing a surge in demand due to its attractive investment opportunities and favorable rental yields.

Definition:

The residential real estate leases market refers to the market where landlords and tenants enter into agreements for the rental of residential properties, such as apartments, houses, and condominiums. The lease outlines the terms of the rental agreement, including the duration of the lease, the amount of rent to be paid, and the responsibilities of both the landlord and the tenant. The lease may also include provisions for security deposits, maintenance and repair obligations, and renewal options.

Structure:

The residential real estate leases market comprises the lease of houses and apartments.

Additional information:

The residential real estate leases market includes the following KPIs: the revenue generated by real estate leases, the number of real estate leases, the average revenue per real estate lease, the share of dwelling type of tenants, and the average room per tenant. The dwelling type shares comprise the shares of the renter population that lives in houses and apartments.

Residential house and apartment leases

Real estate transactions
Commercial real estate
Accommodation services, such as Airbnb

The Residential Real Estate Leases market in Gambia has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences in the Residential Real Estate Leases market in Gambia have shifted towards more modern and comfortable living spaces. With an increasing number of young professionals and expatriates moving to Gambia, there is a growing demand for high-quality residential properties that offer amenities such as swimming pools, gyms, and 24-hour security. Additionally, customers are seeking properties that are located in convenient locations, close to business districts, schools, and shopping centers. Trends in the market show a rise in the construction of apartment complexes and gated communities in Gambia. Developers are responding to the demand for modern living spaces by building multi-story buildings with multiple units. These developments often include shared facilities and services such as parking areas, landscaped gardens, and maintenance staff. This trend is driven by the desire for a hassle-free lifestyle and the convenience of having amenities and services readily available. Local special circumstances also play a role in the development of the Residential Real Estate Leases market in Gambia. The country's stable political environment and growing economy have attracted foreign investors, leading to increased investment in the real estate sector. Additionally, Gambia's tourism industry has been growing steadily, with an influx of tourists seeking vacation rentals and short-term leases. This has created opportunities for property owners to capitalize on the tourism market by offering their properties for lease. Underlying macroeconomic factors have also contributed to the growth of the Residential Real Estate Leases market in Gambia. The country's GDP has been increasing, resulting in higher disposable incomes and improved living standards. This has led to an increased ability and willingness to spend on housing. Additionally, low interest rates and favorable mortgage lending conditions have made it easier for individuals to access financing for property purchases, leading to increased demand for residential leases. In conclusion, the Residential Real Estate Leases market in Gambia is experiencing growth due to customer preferences for modern living spaces, the construction of apartment complexes and gated communities, local special circumstances such as foreign investment and a growing tourism industry, and underlying macroeconomic factors such as a stable political environment and favorable lending conditions. This positive trend is expected to continue as Gambia's economy continues to grow and attract investment.

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.

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

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Residential Real Estate Leases - Gambia

Volume

Analyst Opinion

Revenue

Affordability

Real Estate Type

Living Space

Methodology

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