Key regions: United States, China, Japan, Germany, United Kingdom
The Real Estate market in Sudan is experiencing significant growth and development, driven by various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Sudanese Real Estate market are influenced by several factors. Firstly, there is a growing demand for affordable housing, as many Sudanese families are looking for suitable and affordable accommodation options. Additionally, there is a strong preference for properties with modern amenities and infrastructure, such as access to basic utilities, transportation, and recreational facilities. Moreover, customers are increasingly seeking properties that offer a sense of security and safety, which has led to a rise in the demand for gated communities and properties with advanced security systems. Trends in the Sudanese Real Estate market are also contributing to its development. One notable trend is the increasing popularity of mixed-use developments, which combine residential, commercial, and retail spaces in a single project. These developments cater to the growing demand for convenience and accessibility, as residents can live, work, and shop within the same vicinity. Another trend is the rise of sustainable and eco-friendly properties, as more customers are becoming environmentally conscious and seeking properties that minimize their carbon footprint. This has led to the integration of energy-efficient technologies and green building practices in the construction of new real estate projects. Local special circumstances further shape the development of the Real Estate market in Sudan. One such circumstance is the rapid urbanization and population growth in major cities, which has increased the demand for housing and commercial properties. Additionally, the ongoing political and economic reforms in the country have attracted foreign investment and stimulated the real estate sector. This has resulted in the construction of new residential and commercial projects, creating employment opportunities and driving economic growth. Underlying macroeconomic factors also play a crucial role in the development of the Sudanese Real Estate market. The stable economic growth and low interest rates have made it more affordable for individuals and businesses to invest in real estate. Furthermore, government initiatives and policies, such as tax incentives and streamlined regulations, have encouraged both local and foreign investors to participate in the real estate sector. These factors have contributed to the overall expansion and diversification of the market. In conclusion, the Real Estate market in Sudan is experiencing significant growth and development, driven by customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The demand for affordable housing, modern amenities, and secure properties is shaping customer preferences, while trends such as mixed-use developments and sustainable properties are transforming the market. Local special circumstances, including urbanization and political reforms, are also driving the sector's growth. Finally, stable economic growth and government initiatives are providing favorable conditions for investment in the real estate 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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