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Residential Real Estate Transactions - Guinea

Guinea

The market segment Residential Real Estate Transactions market in Guinea is projected to reach a transaction value of US$2.79bn by the year 2024.
With an annual growth rate (CAGR 2024-2029) of 6.21%, the transaction value is expected to increase, resulting in a market volume of US$3.77bn by the year 2029.
The residential real estate market in Guinea is experiencing a surge in demand due to increased foreign investment and infrastructure development.

Key regions: Germany, Europe, Asia, United States, United Kingdom

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Analyst Opinion

The Residential Real Estate Transactions market in Guinea is experiencing significant development and growth.

Customer preferences: In Guinea, there is a strong demand for residential real estate transactions due to several factors. Firstly, the country's population is growing rapidly, leading to an increased need for housing. Additionally, urbanization is on the rise, with more people moving from rural areas to cities in search of better economic opportunities. This has created a demand for housing in urban areas, driving the growth of the residential real estate market.

Trends in the market: One of the key trends in the residential real estate market in Guinea is the increasing popularity of condominiums and gated communities. These types of properties offer security and amenities that appeal to buyers who are looking for a higher standard of living. As a result, developers are focusing on building more condominiums and gated communities to cater to this demand. Another trend in the market is the rise of affordable housing projects. With the government's efforts to address the housing shortage in the country, there has been an increase in the development of affordable housing projects. These projects aim to provide housing options for low and middle-income individuals and families.

Local special circumstances: Guinea has a growing middle class, which is driving the demand for residential real estate. As people's incomes increase, they are able to afford better housing options, leading to a higher demand for residential properties. Additionally, the government has implemented policies to promote homeownership, such as providing subsidies and incentives for first-time homebuyers. These initiatives have further fueled the growth of the residential real estate market in Guinea.

Underlying macroeconomic factors: The growth of the residential real estate market in Guinea is also influenced by underlying macroeconomic factors. The country's stable economic growth and political stability have attracted foreign investors, who are investing in the real estate sector. This influx of foreign investment has contributed to the development of residential properties and has also led to an increase in property prices. Furthermore, low interest rates and favorable mortgage terms have made it easier for individuals to access financing for purchasing residential properties. This has encouraged more people to enter the market and invest in real estate. In conclusion, the residential real estate transactions market in Guinea is experiencing significant growth and development. Customer preferences for condominiums, gated communities, and affordable housing projects are driving the market. The country's growing middle class, government initiatives, stable economy, and favorable macroeconomic factors are also contributing to the growth of the market.

Methodology

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.