Key regions: Germany, Europe, Asia, United States, United Kingdom
The Residential Real Estate Transactions market in Ethiopia is experiencing significant growth and development. Customer preferences in the market are shifting towards urban areas, as more people are moving to cities in search of better job opportunities and improved living standards. This has led to an increased demand for residential properties in urban centers, driving up the number of real estate transactions. Trends in the market show that the construction industry in Ethiopia is booming, with new residential developments being built to meet the growing demand. Developers are focusing on creating modern and affordable housing options to cater to the needs of the expanding middle class. Additionally, there is a rise in the number of real estate agencies and online platforms that facilitate property transactions, making it easier for buyers and sellers to connect. Local special circumstances in Ethiopia, such as the government's commitment to urbanization and infrastructure development, are also contributing to the growth of the residential real estate market. The government has implemented various policies and initiatives to attract investment in the construction sector, including tax incentives and streamlined approval processes. These efforts have encouraged both local and foreign investors to invest in residential real estate projects, further driving the market's growth. Underlying macroeconomic factors, such as Ethiopia's strong economic growth and increasing population, are also fueling the development of the residential real estate market. The country has been experiencing robust economic growth in recent years, leading to a rise in disposable incomes and purchasing power. As a result, more people are able to afford to buy or rent residential properties, leading to increased market activity. In conclusion, the Residential Real Estate Transactions market in Ethiopia is witnessing significant growth and development due to customer preferences for urban living, the construction industry boom, local special circumstances, and underlying macroeconomic factors. With the government's commitment to urbanization and infrastructure development, as well as the country's strong economic growth, the market is expected to continue its positive trajectory in the coming years.
Data coverage:
Figures are based on total and average revenue of residential real estate transactions (sales).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.
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