Residential Real Estate - Rwanda | Statista Market Forecast

The Residential Real Estate market market in Rwanda is forecasted to reach a value of US$81.62bn by 2024.
It is expected to experience a compound annual growth rate (CAGR 2024-2029) of 3.84%, leading to a market volume of US$98.53bn by 2029.
When compared globally, China is projected to generate the highest value in the Real Estate market, reaching US$112.9tn in 2024.
The residential real estate market in Rwanda is experiencing a surge in demand driven by growing urbanization and increased investment in infrastructure.

Definition:

The residential real estate market covers the leases and transactions of residential properties. Residential real estate leases refer to the market where landlords and tenants enter into agreements for the rental of residential properties, such as apartments, houses, and condominiums, while residential real can be defined as buying, selling, or transfer of ownership of residential properties.

Structure:

The residential real estate market covers real estate transactions and leases, and the section, residential real estate leases, is divided into apartment and house leases.

Additional information:

The market contains the following KPIs: real estate value aggregated for all countries and regions, average real estate value, real estate transaction revenue, number of real estate sold, number of leased and owned real estate, average room per resident, and dwelling type shares. The dwelling type shares comprise the share of the population that lives in houses and apartments. These shares are displayed for real estate owners and for real estate renters as well.

Residential real estate transactions
Residential real estate leases

Real estate agencies
Construction companies
Accommodation services, such as Airbnb
Commercial real estate leases and transactions
Publicly owned buildings used by the local government
Buildings used for public health care services

The residential real estate market in Rwanda is experiencing significant growth and development.

Customer preferences: Customers in Rwanda are increasingly looking for modern and well-designed residential properties. There is a growing demand for housing that offers amenities such as security, parking spaces, and green spaces. Additionally, customers are seeking properties that are located in convenient and accessible areas, close to schools, hospitals, and shopping centers.

Trends in the market: One of the key trends in the residential real estate market in Rwanda is the construction of high-rise buildings. Developers are focusing on building taller buildings to meet the increasing demand for housing in urban areas. These high-rise buildings not only provide more housing units but also offer a range of amenities such as swimming pools, gyms, and rooftop gardens. Another trend in the market is the rise of affordable housing projects. The government of Rwanda has been actively promoting affordable housing initiatives to address the housing needs of the population. These projects aim to provide decent and affordable housing options for low-income families.

Local special circumstances: Rwanda has made significant progress in terms of political stability and economic growth in recent years. The country has implemented various reforms to improve the business environment and attract foreign investment. This has had a positive impact on the residential real estate market, as more investors are entering the market and contributing to its development.

Underlying macroeconomic factors: The residential real estate market in Rwanda is benefiting from several macroeconomic factors. The country's strong economic growth has resulted in an increase in disposable income, allowing more people to afford housing. Additionally, the government's focus on infrastructure development, including the construction of roads and utilities, has improved accessibility to different areas, making them more attractive for residential development. Furthermore, the growing population and urbanization in Rwanda are driving the demand for housing. As more people move to urban areas in search of employment and better opportunities, the need for residential properties continues to rise. In conclusion, the residential real estate market in Rwanda is experiencing growth and development due to customer preferences for modern and well-designed properties, the construction of high-rise buildings, and the rise of affordable housing projects. The country's political stability, economic growth, and infrastructure development are also contributing to the market's expansion. With the growing population and urbanization, the demand for housing is expected to continue increasing in the coming years.

Data coverage:

Figures are based on total and average value of residential real estate, residential estate transactions and leases.

Modeling approach:

Market size is determined by a combined top-down and 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 are 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 - Rwanda

Value

Volume

Analyst Opinion

Transaction Value

Revenue

Household Type

Living Space

Methodology

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