Residential Real Estate Transactions - Tanzania

In Tanzania, the market segment of Residential Real Estate Transactions market is set to witness significant growth.
It is projected that by 2024, the transaction value of this market will reach a staggering US$4.43bn.
Looking ahead, the market is expected to exhibit a steady annual growth rate (CAGR 2024-2029) of 5.31%.
This growth trajectory will lead to a substantial increase in the market volume, which is estimated to reach US$5.74bn by 2029.
The residential real estate sector in Tanzania is poised for remarkable expansion in the coming years.
Tanzania's residential real estate market is experiencing a surge in demand due to an increase in foreign investment and urbanization.

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 Tanzania is experiencing significant growth and development in recent years. Customer preferences in the market are shifting towards urban areas, as more people are looking to live closer to job opportunities and amenities. This has led to an increase in demand for residential properties in cities such as Dar es Salaam, Arusha, and Mwanza. Additionally, there is a growing interest in gated communities and apartment complexes, as they offer security and convenience. Trends in the market show a steady increase in property prices, driven by high demand and limited supply. As more people migrate to urban areas, the demand for housing has outpaced the construction of new properties. This has resulted in a seller's market, where buyers often face bidding wars and higher prices. In response to this trend, developers are focusing on building high-end residential properties to cater to the growing demand from affluent buyers. Local special circumstances in Tanzania also contribute to the development of the Residential Real Estate Transactions market. The government has implemented policies to attract foreign investment in the real estate sector, which has led to an influx of international buyers. Additionally, the growth of the tourism industry in Tanzania has created a demand for vacation homes and rental properties, further driving the market. Underlying macroeconomic factors play a significant role in the development of the Residential Real Estate Transactions market in Tanzania. The country has experienced stable economic growth in recent years, which has increased disposable incomes and purchasing power. This, coupled with low interest rates, has made it easier for individuals to access financing for property purchases. Furthermore, the government's focus on infrastructure development has improved connectivity and accessibility, making urban areas more attractive for residential investment. In conclusion, the Residential Real Estate Transactions market in Tanzania is experiencing growth and development due to shifting customer preferences, limited supply, government policies, and underlying macroeconomic factors. As the country continues to urbanize and attract foreign investment, the market is expected to further expand in the coming years.

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 - Tanzania

Volume

Analyst Opinion

Transaction Value

Living Space

Methodology

Financial

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Residential Real Estate Transactions - Tanzania

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