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Real Estate - Tajikistan

Tajikistan
  • The Real Estate market market in Tajikistan is expected to achieve a significant milestone in 2024, with a projected value of US$65.77bn.
  • Within this market, the residential segment stands out as the dominant force, estimated to reach a market volume of US$58.71bn in 2024.
  • The forecasted growth rate for this sector from 2024 to 2029 is projected at 4.75% per annum, resulting in a market volume of US$82.95bn by 2029.
  • When comparing the global Real Estate market market, it is noteworthy that United States is expected to generate the highest value, reaching a staggering US$132.0tn in 2024.
  • The Real Estate market sector in Tajikistan is poised to contribute substantially to the country's economy.
  • Tajikistan's real estate market is experiencing a surge in demand for luxury apartments in its capital city, Dushanbe.

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.

In-Scope

  • Residential real estate (houses and apartments)
  • Commercial real estate (office buildings, retail spaces, warehouses, industrial properties)

Out-Of-Scope

  • Real estate agencies
  • Construction companies
  • Accommodation services, such as Airbnb
  • Commercial real estate leases and transactions
  • Publicly owned buildings used by the local government
  • Buildings used for public health care services
Commercial Real Estate: market data & analysis  - Cover

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Commercial Real Estate: market data & analysis

Study Details

    Value

    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

    Value Split

    Most recent update: Jul 2024

    Source: Statista Market Insights

    Volume

    Notes: Please note that this chart only covers the residential real estate market.

    Most recent update: Jul 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Real Estate market in Tajikistan has been experiencing significant growth and development in recent years.

    Customer preferences:
    Customers in Tajikistan have shown a strong preference for residential properties, particularly in urban areas. The demand for housing has been driven by a growing population and an increasing number of young professionals seeking affordable and modern housing options. Additionally, there has been a rise in demand for commercial properties, including office spaces and retail units, as the country's economy continues to expand.

    Trends in the market:
    One of the key trends in the real estate market in Tajikistan is the construction of high-rise buildings in urban areas. This trend can be attributed to the limited availability of land in cities, leading developers to build vertically to accommodate the growing demand for housing and commercial spaces. Another trend is the focus on sustainable and energy-efficient buildings, as customers are becoming more conscious of environmental issues and are willing to pay a premium for properties that are eco-friendly.

    Local special circumstances:
    Tajikistan's real estate market is also influenced by local special circumstances. The country's strategic location along the Silk Road has attracted foreign investors, particularly from China, who are investing in infrastructure projects and real estate developments. This foreign investment has contributed to the growth of the market and has led to the construction of modern and high-quality properties.

    Underlying macroeconomic factors:
    Several macroeconomic factors have contributed to the development of the real estate market in Tajikistan. The country has experienced steady economic growth in recent years, driven by investments in infrastructure, agriculture, and manufacturing sectors. This economic growth has resulted in an increase in disposable income and improved living standards, leading to a higher demand for real estate properties. Furthermore, the government of Tajikistan has implemented policies and reforms to attract foreign direct investment and promote the real estate sector. These include the simplification of procedures for obtaining construction permits and the introduction of tax incentives for real estate developers. These measures have created a favorable business environment and have encouraged both domestic and foreign investors to invest in the real estate market. In conclusion, the Real Estate market in Tajikistan is experiencing significant growth and development due to customer preferences for residential and commercial properties, the construction of high-rise buildings, the focus on sustainability, foreign investment, and underlying macroeconomic factors such as economic growth and government policies. These factors have created a positive outlook for the real estate market in Tajikistan and are expected to continue driving its growth in the future.

    Transaction Value

    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

    Methodology

    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.

    Financial

    Access more Market Insights on Financial topics with our featured report

    Commercial Real Estate: market data & analysis  - BackgroundCommercial Real Estate: market data & analysis  - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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