Definition:
The real estate market refers to the transaction of properties, including residential properties (such as houses and apartments) and commercial properties, such as office buildings and industrial properties. Apart from property sales, this market includes leases and the value of real estate.Structure:
The real estate market comprises residential and commercial real estate. The residential real estate market covers real estate transactions and leases, and residential real estate leases are 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 real estate renters as well.Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Jul 2024
Source: Statista Market Insights
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Jul 2024
Source: Statista Market Insights
Notes: Please note that this chart only covers the residential real estate market. Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Jul 2024
Source: Statista Market Insights
Notes: Please note that this chart only covers the residential real estate market.
Most recent update: Jul 2024
Source: Statista Market Insights
The Real Estate market in South Africa is experiencing significant developments and trends that are shaping the industry. Customer preferences, local special circumstances, and underlying macroeconomic factors are all contributing to the growth and evolution of the market. Customer preferences in the South African Real Estate market are shifting towards more sustainable and eco-friendly properties. There is a growing demand for green buildings that utilize renewable energy sources and incorporate environmentally friendly features. This trend is driven by increasing awareness of climate change and a desire to reduce carbon footprints. Additionally, customers are seeking properties that offer modern amenities and convenient access to transportation, shopping centers, and recreational facilities. The demand for these types of properties is driving developers to incorporate these features into their projects. Trends in the South African Real Estate market also include a rise in mixed-use developments. Developers are increasingly combining residential, commercial, and retail spaces within a single project. This trend is driven by the need for convenience and accessibility, as people seek to live, work, and shop in close proximity. Mixed-use developments also contribute to urban revitalization and can help create vibrant and inclusive communities. Local special circumstances in South Africa, such as a growing urban population and a housing backlog, are also influencing the Real Estate market. Rapid urbanization has led to an increased demand for housing, particularly in major cities. The government is implementing various initiatives to address the housing shortage and promote affordable housing options. These efforts, coupled with private sector investments, are driving the development of new residential projects. Underlying macroeconomic factors are also playing a role in the development of the South African Real Estate market. Economic growth, low interest rates, and favorable government policies are creating a conducive environment for investment in the sector. The government's commitment to infrastructure development and urban regeneration projects is attracting both domestic and foreign investors. Additionally, the rise of the middle class and increasing urbanization are contributing to the demand for housing and commercial properties. In conclusion, the Real Estate market in South Africa is evolving to meet the changing preferences of customers and adapt to local special circumstances. The demand for sustainable and mixed-use developments, coupled with government initiatives and favorable macroeconomic factors, are driving the growth and development of the market.
Notes: Please note that this chart only covers residential real estate sales. Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Jul 2024
Source: Statista Market Insights
Data coverage:
Figures are based on value of residential and commercial real estate, average real estate value, residential estate transactions and leases.Modeling approach / Market size:
Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use data from international organizations and industry associations. Next we use relevant key market indicators and data from country-specific associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, 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:
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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Jan 2025
Source: Statista Market Insights