Residential Real Estate Transactions - Gambia

In Gambia, the market segment of Residential Real Estate Transactions market is anticipated to witness significant growth in the coming years.
According to projections, the transaction value of this market is expected to reach US$164.00m by the year 2024.
Moreover, it is estimated that the market will experience an annual growth rate (CAGR 2024-2029) of 5.21%.
As a result, the market volume is projected to reach US$211.50m by the year 2029.
The residential real estate market in Gambia is experiencing a surge in demand due to the country's growing tourism industry.

Definition:

Residential real estate transactions refer to the buying, selling, or transfer of ownership of residential properties such as single-family homes, condominiums, townhouses, and apartments. These transactions involve a number of steps and parties, including buyers, sellers, real estate agents, attorneys, lenders, and title companies.

Additional information:

The KPIs covered in this market are the real estate transactions revenue and the average revenue transaction value.

Overall revenue generated by residential real estate transactions

Commercial real estate transactions
Revenue of real estate agencies
Revenue of construction companies

The Residential Real Estate Transactions market in Gambia is experiencing steady growth due to various factors.

Customer preferences: Customers in Gambia are increasingly interested in investing in residential real estate properties. This is mainly driven by the desire for homeownership and the potential for long-term returns on investment. Many individuals and families are looking to purchase their own homes or properties for rental purposes. The demand for residential real estate is also fueled by the growing population and urbanization in Gambia.

Trends in the market: One of the key trends in the residential real estate market in Gambia is the increasing popularity of gated communities and housing estates. These developments offer a range of amenities and security features, making them attractive to potential buyers. Additionally, there is a growing demand for affordable housing options, particularly among the middle-income population. Developers are responding to this trend by constructing more affordable housing units to meet the needs of this segment. Another trend in the market is the rise of real estate investment trusts (REITs) in Gambia. REITs allow investors to pool their resources and invest in a diversified portfolio of residential properties. This provides individuals with an opportunity to invest in the real estate market without the need for large capital outlays. The introduction of REITs has increased liquidity in the market and made residential real estate investment more accessible to a wider range of investors.

Local special circumstances: Gambia has a relatively stable political environment, which is conducive to real estate investment. The government has implemented policies to attract foreign investment and promote economic growth, including in the real estate sector. Additionally, Gambia's strategic location as a popular tourist destination has led to an increase in demand for residential properties from both local and international buyers.

Underlying macroeconomic factors: Gambia's economy has been growing steadily in recent years, driven by sectors such as tourism, agriculture, and services. This has led to an increase in disposable income and purchasing power, making it easier for individuals to invest in residential real estate. The government's efforts to improve infrastructure, including roads and utilities, have also contributed to the growth of the market. In conclusion, the Residential Real Estate Transactions market in Gambia is experiencing growth due to customer preferences for homeownership and long-term investment opportunities. The market is characterized by the increasing popularity of gated communities and affordable housing options. The rise of real estate investment trusts has also made it easier for individuals to invest in the market. Gambia's stable political environment, strategic location, and growing economy are contributing to the development of the residential real estate market.

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.

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

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Residential Real Estate Transactions - Gambia

Volume

Analyst Opinion

Transaction Value

Living Space

Methodology

Financial

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Residential Real Estate Transactions - Gambia

In-Scope

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Real Estate

Related markets:

Residential Real Estate: market data & analysis

Volume

Analyst Opinion

Transaction Value

Living Space

Methodology

Financial

Access more Market Insights on Financial topics with our featured report

Key Market Indicators

Explore more high-quality data on related topic

Global housing market - statistics & facts

Explore more high-quality data on related topic

Residential real estate in Europe - statistics & facts

Explore more high-quality data on related topic

Residential real estate in India - statistics and facts