Key regions: Europe, Brazil, France, Asia, United States
The Residential Real Estate market in Zimbabwe is experiencing significant developments and trends.
Customer preferences: In recent years, there has been a notable shift in customer preferences in the Residential Real Estate market in Zimbabwe. Customers are increasingly looking for modern and well-designed properties that offer a range of amenities and facilities. There is a growing demand for properties that are located in safe and secure neighborhoods, with access to good schools, healthcare facilities, and recreational areas. Additionally, customers are also seeking properties that are energy-efficient and environmentally friendly.
Trends in the market: One of the key trends in the Residential Real Estate market in Zimbabwe is the rise of gated communities. These communities offer a sense of security and exclusivity, making them highly desirable among buyers. Gated communities often provide a range of amenities such as swimming pools, gyms, and parks, creating a self-contained living environment. This trend is driven by the increasing need for security and convenience among buyers. Another trend in the market is the growing popularity of high-rise apartments. With limited land availability in urban areas, developers are turning to vertical construction to meet the demand for housing. High-rise apartments offer an efficient use of space and provide residents with a range of amenities such as rooftop gardens, concierge services, and panoramic views. This trend is driven by the need to accommodate a growing population in urban areas.
Local special circumstances: Zimbabwe has a unique set of circumstances that impact the Residential Real Estate market. One of the key factors is the land reform program implemented in the early 2000s, which resulted in a significant redistribution of land. This has led to a decrease in agricultural production and a shift in the economy towards other sectors such as real estate. The land reform program has also created opportunities for property development, as new areas are being opened up for residential construction.
Underlying macroeconomic factors: The development of the Residential Real Estate market in Zimbabwe is also influenced by underlying macroeconomic factors. The country has experienced periods of high inflation and economic instability, which have had an impact on the affordability of housing. However, in recent years, there have been efforts to stabilize the economy and attract foreign investment, which has contributed to a more favorable business environment for the real estate sector. Additionally, the government has implemented policies to promote affordable housing, which has further stimulated the market. In conclusion, the Residential Real Estate market in Zimbabwe is evolving to meet the changing preferences of customers. The rise of gated communities and high-rise apartments reflects the demand for security, convenience, and efficient use of space. The unique circumstances in Zimbabwe, such as the land reform program, have also shaped the market. Overall, the market is influenced by underlying macroeconomic factors and the government's efforts to stabilize the economy and promote affordable housing.
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.
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