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Key regions: Germany, Europe, Asia, United States, United Kingdom
The Residential Real Estate Transactions market in Kenya is experiencing significant growth and development in recent years.
Customer preferences: Customers in the Residential Real Estate Transactions market in Kenya are increasingly looking for properties that offer modern amenities and facilities. The demand for properties with features such as swimming pools, gyms, and green spaces has been on the rise. Additionally, customers are also seeking properties that are located in safe and secure neighborhoods, with easy access to schools, hospitals, and shopping centers.
Trends in the market: One major trend in the Residential Real Estate Transactions market in Kenya is the increasing popularity of gated communities. These communities offer a sense of security and exclusivity, attracting buyers who are willing to pay a premium for such properties. The demand for apartments and townhouses within gated communities has been particularly high. Another trend in the market is the growing interest in eco-friendly and sustainable properties. Customers are increasingly concerned about the environmental impact of their homes and are looking for properties that incorporate green building practices. Developers are responding to this trend by incorporating features such as solar panels, rainwater harvesting systems, and energy-efficient appliances in their properties.
Local special circumstances: One of the key factors driving the growth of the Residential Real Estate Transactions market in Kenya is the rapid urbanization in the country. As more people move from rural areas to cities in search of better opportunities, the demand for housing has increased significantly. This has created a favorable environment for real estate developers to invest in residential properties. Another special circumstance in Kenya is the government's focus on affordable housing. The government has implemented various initiatives to address the housing shortage in the country, including providing incentives to developers to build affordable housing units. This has led to an increase in the supply of affordable housing options, making it easier for customers to purchase their own homes.
Underlying macroeconomic factors: The growth of the Residential Real Estate Transactions market in Kenya is also influenced by several macroeconomic factors. The country's stable economic growth and rising middle class have contributed to an increase in disposable income, allowing more people to invest in real estate. Additionally, low interest rates and favorable mortgage terms have made it easier for customers to access financing for their property purchases. In conclusion, the Residential Real Estate Transactions market in Kenya is experiencing growth and development driven by customer preferences for modern amenities, the popularity of gated communities, and the demand for eco-friendly properties. The rapid urbanization in the country and the government's focus on affordable housing are also contributing to the market's growth. Additionally, favorable macroeconomic factors such as stable economic growth, rising middle class, and low interest rates are supporting the expansion of the 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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)