Real Estate - Togo | Statista Market Forecast

The Real Estate market market in Togo is expected to reach a value of US$119.00bn in 2024.
Among the various segments of the market, Residential Real Estate holds the dominant position, with a projected market volume of US$109.60bn in the same year.
Looking ahead, the market is anticipated to experience a steady annual growth rate of 4.61% between 2024 and 2029 (CAGR 2024-2029), resulting in a market volume of US$149.10bn by 2029.
In terms of global comparison, United States is expected to generate the highest value in the Real Estate market sector, with a projected market volume of US$132.0tn in 2024.
Togo's real estate market is experiencing a surge in demand for affordable housing, driven by a growing middle class and urbanization.

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.

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

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

The Real Estate market in Togo 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 Togolese Real Estate market are shifting towards modern and well-designed properties. There is a growing demand for houses and apartments that offer modern amenities and are located in safe and convenient neighborhoods. Customers are also increasingly interested in properties that are energy-efficient and environmentally friendly. Additionally, there is a rising demand for commercial real estate, particularly in urban areas, as businesses expand and seek suitable office spaces. Trends in the Togolese Real Estate market indicate a shift towards urbanization and the development of infrastructure. The government of Togo has been investing in the development of roads, transportation systems, and public facilities, which has led to the growth of urban areas. This, in turn, has increased the demand for real estate in urban centers. Another trend in the market is the rise of mixed-use developments, which combine residential, commercial, and recreational spaces in a single project. These developments cater to the changing lifestyle preferences of customers and offer convenience and accessibility. Local special circumstances in Togo also contribute to the development of the Real Estate market. Togo has a young and growing population, with a high rate of urbanization. This demographic trend creates a strong demand for housing and commercial spaces. Additionally, Togo is strategically located in West Africa, making it an attractive destination for foreign investors. The government has implemented policies to attract foreign investment in the Real Estate sector, including providing incentives and streamlining the process of acquiring property. Underlying macroeconomic factors play a crucial role in the development of the Real Estate market in Togo. The country has experienced stable economic growth in recent years, which has increased household income and purchasing power. This has led to an increased demand for real estate, both for residential and commercial purposes. Furthermore, Togo has a favorable business environment, with a relatively low cost of living and ease of doing business. These factors attract both local and foreign investors to the Real Estate market. In conclusion, the Real Estate market in Togo is witnessing significant growth and development due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The demand for modern and well-designed properties, the growth of urban areas, and the implementation of favorable policies contribute to the positive outlook for the market. With continued investment in infrastructure and the attraction of foreign investment, the Real Estate market in Togo is expected to flourish in the coming years.

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.

This report presents a comprehensive analysis and additional information on the Financial market, in a PDF format.

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Real Estate - Togo

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Volume

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