Residential Real Estate Leases - Guinea

The revenue of the Residential Real Estate Leases market market in Guinea is projected to reach US$12.53bn in 2024.
House Leases dominate the market in Guinea with a projected market volume of US$10.88bn in 2024.
The revenue in Guinea is expected to show an annual growth rate (CAGR 2024-2029) of 8.16%, resulting in a market volume of US$18.55bn by 2029.
Despite the challenging economic conditions, Guinea is experiencing a steady increase in demand for residential real estate leases.

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 Guinea is experiencing significant growth and development.

Customer preferences: In Guinea, there is a growing demand for residential real estate leases. Many individuals and families are opting to rent properties instead of purchasing them. This is due to various factors such as the flexibility of renting, the lower upfront costs, and the ability to live in desirable locations without the long-term commitment of owning a property. Additionally, renting allows individuals to avoid the responsibilities and costs associated with property maintenance and repairs.

Trends in the market: One of the key trends in the residential real estate leases market in Guinea is the increasing popularity of apartment living. Apartments offer convenience, security, and often come with amenities such as swimming pools, gyms, and communal areas. This trend is driven by the changing lifestyles and preferences of urban dwellers who seek modern and comfortable living spaces. Another trend in the market is the rise of co-living spaces. Co-living is a concept where individuals or groups rent private bedrooms within a larger property and share common areas such as kitchens and living rooms. This trend is particularly popular among young professionals and students who are looking for affordable housing options and a sense of community.

Local special circumstances: Guinea is experiencing rapid urbanization, with more people moving to cities in search of better job opportunities and improved living standards. This urbanization trend has fueled the demand for rental properties, especially in urban areas where housing supply is limited. Additionally, Guinea has a young population, and many young adults are entering the workforce and seeking independent living arrangements, further driving the demand for rental properties.

Underlying macroeconomic factors: The growth of the residential real estate leases market in Guinea can be attributed to several underlying macroeconomic factors. One such factor is the overall economic growth of the country. As the economy expands, more people have disposable income to spend on housing, leading to increased demand for rental properties. Additionally, the government of Guinea has implemented policies to promote the real estate sector, including the development of affordable housing and the improvement of infrastructure. These policies have created a favorable environment for real estate developers and investors, resulting in increased supply of rental properties. In conclusion, the Residential Real Estate Leases market in Guinea is experiencing growth and development due to customer preferences for flexibility and convenience, as well as the trends of apartment living and co-living. The local special circumstances of urbanization and a young population further contribute to the demand for rental properties. Underlying macroeconomic factors such as economic growth and government policies also play a significant role in the market's development.

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 - Guinea

Volume

Analyst Opinion

Revenue

Affordability

Real Estate Type

Living Space

Methodology

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