Residential Real Estate Transactions - Togo

In Togo, the market segment of Residential Real Estate Transactions market is expected to witness significant growth in the coming years.
By 2024, the transaction value is projected to reach US$734.40m.
Looking ahead, the market is anticipated to experience a steady annual growth rate of 3.00% from 2024 to 2029.
This will lead to a market volume of US$851.40m by the end of 2029.
The residential real estate market in Togo is experiencing a steady increase in demand, driven by a growing middle class and improved infrastructure.

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

Residential real estate transactions in Togo have been steadily increasing over the past few years, driven by customer preferences for property ownership and investment opportunities.

Customer preferences: Togolese individuals and families have a strong cultural preference for homeownership, considering it a symbol of stability and success. This desire for property ownership has fueled the demand for residential real estate transactions in the country. Additionally, with limited investment options available, many Togolese see real estate as a secure and profitable investment opportunity.

Trends in the market: One of the key trends in the residential real estate transactions market in Togo is the increasing popularity of urban living. As the country experiences rapid urbanization, more people are moving to cities in search of better job opportunities and improved living standards. This has led to a surge in demand for housing in urban areas, driving up property prices and stimulating real estate transactions. Another trend in the market is the growing interest in luxury properties. As the economy continues to grow, there is a rising affluent class in Togo who are willing to invest in high-end residential properties. Developers are responding to this demand by constructing luxury housing projects that cater to the needs and preferences of this demographic.

Local special circumstances: Togo's real estate market is influenced by its geographical location and proximity to neighboring countries. The country serves as a transit hub for goods and people traveling between West African countries, attracting foreign investors and expatriates who require housing during their stay. This has contributed to the demand for residential real estate transactions, particularly in major cities like Lomé.

Underlying macroeconomic factors: The stability of Togo's economy and favorable government policies have played a significant role in the development of the residential real estate transactions market. The government has implemented reforms to improve the business environment and attract foreign investment, which has positively impacted the real estate sector. Additionally, low interest rates and access to mortgage financing have made property ownership more affordable and accessible to a larger segment of the population. In conclusion, the residential real estate transactions market in Togo is experiencing growth due to customer preferences for property ownership and investment opportunities. The increasing urbanization, interest in luxury properties, and the country's special circumstances as a transit hub have contributed to the upward trend. Furthermore, the stability of the economy and supportive government policies have created a favorable environment for the real estate sector to thrive.

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.

The global housing market has slowed amid high inflation and soaring borrowing costs. Homeownership is one of the most universal signs of success and prosperity: It serves both as a source of stable and secure housing and a long-term investment. After the global financial crisis, property prices rose in many countries and especially in advanced economies. For more than a decade after that, the housing market has been on an upward trajectory, culminating in the housing boom during the COVID-19 pandemic. However, housing shortages in highly competitive markets, the recent rapid house price growth, soaring inflation, and consequently, some of the highest mortgage interest rates recorded in the past 10 years have led to the market cooling.

Soaring inflation and aggressive mortgage interest rate hikes cooled the European housing market after a nearly decade-long period of growth. Since 2015, house prices in the European Union have grown by about 50 percent. When inflation in Europe started to rise at an alarming rate in 2021, the European Central Bank increased interest rates, resulting in substantially higher mortgage interest rates and a decline in homebuying. But how important is homeownership for Europeans?

Generally considered the third key pillar of the food, clothing, and shelter trinity popularized in India over generations, owning a home is still prioritized as a measure of financial security by a vast majority of the Indian population. The COVID-19 pandemic with its successive lockdowns and restrictions to stay within the confines of one’s home, further reinforced this vision. India’s growing urban population, rising household incomes, and decade-long low-interest rates have been propelling the demand for residential units, driving up the sales volume. Even though the residential real estate sector was severely hit in 2020, it marked a strong recovery in consecutive years, crossing pre-COVID sales figures.

Residential Real Estate Transactions - Togo

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

Contact

Get in touch with us. We are happy to help.

Residential Real Estate Transactions - Togo

In-Scope

Out-Of-Scope

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