Residential Real Estate - Togo

Togo

The Residential Real Estate market market in Togo is expected to reach a value of US$109.60bn by the year 2024.
It is projected to grow at an annual growth rate of 4.84% from 2024 to 2029, resulting in a market volume of US$138.80bn by the year 2029.
Comparatively, China is expected to generate the highest value in the Real Estate market, with an estimated worth of US$112.9tn in 2024.
Residential real estate in Togo is experiencing a surge in demand due to increased urbanization and infrastructure development.

Key regions: Europe, Brazil, France, Asia, United States

Market

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Analyst Opinion

The Residential Real Estate market in Togo is experiencing significant growth and development.

Customer preferences: Customers in Togo are increasingly looking for modern and well-designed residential properties. They are seeking homes that offer comfort, security, and convenience. The demand for apartments and gated communities is on the rise, as they provide a sense of community and offer amenities such as swimming pools, gyms, and green spaces. Additionally, customers are showing a preference for properties located in prime locations with easy access to schools, hospitals, and shopping centers.

Trends in the market: One of the key trends in the residential real estate market in Togo is the increasing construction of high-rise buildings. Developers are capitalizing on the limited land availability in urban areas by constructing multi-story buildings. This trend not only maximizes the use of available land but also offers customers a wider range of housing options. Another trend in the market is the growing interest in sustainable and energy-efficient homes. Customers are becoming more conscious of the environmental impact of their homes and are seeking properties that incorporate eco-friendly features such as solar panels, rainwater harvesting systems, and energy-efficient appliances. This trend is driven by both customer preferences and government initiatives promoting sustainable development.

Local special circumstances: Togo has a young and growing population, which is driving the demand for residential properties. As more young people enter the workforce and start families, the need for housing is increasing. This demographic shift is creating opportunities for developers to cater to the specific needs and preferences of this target market. Furthermore, Togo has seen an increase in foreign investment in recent years, particularly in the real estate sector. This influx of foreign capital has contributed to the growth of the residential real estate market, as developers are able to access funding for large-scale projects. Additionally, foreign investors are bringing in expertise and innovation, further enhancing the quality and design of residential properties in the country.

Underlying macroeconomic factors: The development of the residential real estate market in Togo is supported by several macroeconomic factors. The country's stable political environment and improving business climate have attracted foreign investors, boosting economic growth. This has resulted in increased employment opportunities and higher disposable incomes, enabling more people to afford residential properties. Additionally, Togo has made significant progress in infrastructure development, including the expansion of road networks and improvements in public transportation. These infrastructure investments have improved accessibility to different parts of the country, making residential properties in previously underdeveloped areas more attractive to buyers. Furthermore, the government of Togo has implemented policies to promote affordable housing and increase access to mortgage financing. These initiatives aim to address the housing needs of low and middle-income households, further stimulating demand in the residential real estate market. In conclusion, the residential real estate market in Togo is experiencing growth and development due to customer preferences for modern and well-designed properties, the construction of high-rise buildings, the demand for sustainable homes, the young and growing population, foreign investment, stable political environment, improving business climate, infrastructure development, and government policies promoting affordable housing and mortgage financing.

Methodology

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.