Key regions: United States, China, Japan, Germany, United Kingdom
The Real Estate market in Southern Africa is experiencing significant developments and trends that are shaping the industry. Customer preferences in the Real Estate market in Southern Africa are influenced by various factors. Firstly, there is a growing demand for affordable housing due to the increasing population and urbanization in the region. Many people are looking for housing options that are within their budget and offer basic amenities. Additionally, there is a rising interest in eco-friendly and sustainable properties, as individuals become more conscious of their environmental impact. This has led to an increase in the demand for properties that incorporate green technologies and practices. Lastly, there is a growing trend towards mixed-use developments, where residential, commercial, and recreational spaces are integrated into a single property. This allows residents to have convenient access to various amenities and services. Several trends are emerging in the Real Estate market in Southern Africa. Firstly, there is a shift towards digitalization and online platforms for property transactions. This trend has been accelerated by the COVID-19 pandemic, as people have become more comfortable with conducting business online. Real Estate companies are investing in digital platforms to streamline the buying and selling process and provide a more convenient experience for customers. Another trend is the development of affordable housing projects by both public and private entities. Governments are implementing policies and incentives to encourage the construction of affordable housing, while private developers are recognizing the demand for such properties. Additionally, there is an increasing focus on mixed-use developments, as they offer a holistic and integrated living experience. Local special circumstances in the Real Estate market in Southern Africa include the presence of informal settlements and the need for urban regeneration. Informal settlements, often characterized by inadequate housing and lack of basic services, are prevalent in many countries in the region. Governments and organizations are working towards upgrading these settlements and providing better housing options for the residents. Urban regeneration projects are also taking place in cities, aiming to revitalize and transform underutilized or deteriorating areas into vibrant and sustainable spaces. Underlying macroeconomic factors are playing a significant role in the development of the Real Estate market in Southern Africa. Economic growth, population growth, and urbanization are driving the demand for housing and commercial properties. The region is experiencing steady economic growth, which is attracting investments and creating employment opportunities. This, in turn, is increasing the demand for real estate properties. Additionally, the growing middle class in Southern Africa is contributing to the demand for housing and commercial spaces. The rise in disposable income and changing lifestyles are driving the need for better and more modern properties. Lastly, government policies and regulations are shaping the Real Estate market. Governments are implementing measures to promote affordable housing, sustainable development, and urban planning, which are influencing the trends and developments in the market.
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.
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