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.Most recent update: Jul 2024
Source: Statista Market Insights
The Residential Real Estate Transactions market in Republic of the Congo has been experiencing significant growth in recent years. Customer preferences in the market are influenced by several factors. Firstly, there is a growing demand for residential properties due to population growth and urbanization. As more people move to urban areas in search of better job opportunities and improved living standards, the demand for housing increases. Additionally, there is a preference for properties that offer modern amenities and facilities, such as gated communities with security services, recreational areas, and proximity to schools and shopping centers. The market is also witnessing a trend towards sustainable and eco-friendly properties. With increasing awareness about environmental issues, there is a growing demand for homes that are energy-efficient, incorporate renewable energy sources, and use sustainable building materials. This trend is driven by both consumer preferences and government regulations promoting sustainable development. Another trend in the market is the rise of online platforms for real estate transactions. With the increasing use of technology and internet penetration, more buyers and sellers are turning to online platforms to search for properties, compare prices, and facilitate transactions. This trend has made the market more transparent and accessible, allowing buyers to make more informed decisions and sellers to reach a larger pool of potential buyers. Local special circumstances in the Republic of the Congo also play a role in shaping the residential real estate market. The country has a high rate of urbanization, with a significant portion of the population living in urban areas. This has led to a shortage of affordable housing, particularly for low-income households. The government has implemented various initiatives to address this issue, such as the construction of social housing projects and the provision of subsidies for housing development. These efforts are aimed at increasing the supply of affordable housing and improving access to housing for all segments of the population. Underlying macroeconomic factors also contribute to the development of the residential real estate market in the Republic of the Congo. Economic growth, stability, and favorable investment policies attract both domestic and foreign investors to the real estate sector. Additionally, low interest rates and favorable mortgage lending conditions make it easier for individuals to finance the purchase of residential properties. These factors, combined with the growing population and urbanization, create a favorable environment for the growth of the residential real estate market in the Republic of the Congo. In conclusion, the Residential Real Estate Transactions market in Republic of the Congo is experiencing significant growth due to factors such as population growth, urbanization, customer preferences for modern and sustainable properties, the rise of online platforms, local special circumstances such as a shortage of affordable housing, and underlying macroeconomic factors including economic growth and favorable investment policies.
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Jul 2024
Source: Statista Market Insights
Most recent update: Jul 2024
Source: Statista Market Insights
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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Jan 2025
Source: Statista Market Insights