Key regions: Germany, Europe, Asia, United States, United Kingdom
The Residential Real Estate Transactions market in Sudan has been experiencing significant growth in recent years.
Customer preferences: One of the main reasons for this growth is the increasing demand for residential properties in Sudan. As the population continues to grow, there is a greater need for housing, leading to a rise in real estate transactions. Additionally, with the urbanization trend in Sudan, more people are moving to cities in search of better job opportunities and a higher standard of living. This has further fueled the demand for residential properties, driving the market forward.
Trends in the market: Another trend in the market is the increasing interest of foreign investors in Sudan's real estate sector. The government has implemented policies to attract foreign investment, making it easier for international buyers to purchase properties in the country. This has led to an influx of foreign capital into the market, contributing to its growth.
Local special circumstances: Sudan's real estate market is also influenced by local special circumstances. The country has a rich cultural heritage and historical sites, attracting tourists from around the world. As a result, there is a demand for vacation homes and rental properties in popular tourist destinations. This has created opportunities for real estate developers and investors to cater to this niche market.
Underlying macroeconomic factors: The growth of the Residential Real Estate Transactions market in Sudan can also be attributed to underlying macroeconomic factors. The country has experienced economic stability in recent years, with a steady GDP growth rate. This has boosted consumer confidence and increased purchasing power, leading to higher demand for residential properties. Additionally, the government has implemented reforms to improve the business environment and attract investment, further supporting the growth of the real estate sector. In conclusion, the Residential Real Estate Transactions market in Sudan is experiencing significant growth due to increasing customer preferences for residential properties, the interest of foreign investors, local special circumstances such as tourism, and underlying macroeconomic factors. As the population continues to grow and the economy remains stable, the market is expected to continue its upward trajectory.
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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