Real Estate - Tanzania

  • Tanzania
  • The Real Estate market market in Tanzania is expected to reach a value of US$651.30bn by 2024.
  • Among the various segments, Residential Real Estate dominates the market with a projected market volume of US$589.70bn in the same year.
  • This segment is expected to grow at an annual growth rate of 4.76% (CAGR 2024-2028), resulting in a market volume of US$784.40bn by 2028.
  • When compared globally, it is worth noting that China is expected to generate the highest value in the Real Estate market market, with a projected value of US$135.70tn in 2024.
  • Tanzania's real estate market is experiencing a surge in demand for luxury beachfront properties due to its stunning coastline and growing tourism industry.

Key regions: United States, China, Japan, Germany, United Kingdom

 
Market
 
Region
 
Region comparison
 
Currency
 

Analyst Opinion

Tanzania, a country located in East Africa, has been experiencing significant development and growth in its real estate market. Customer preferences in the Tanzanian real estate market have been shaped by several factors. One key preference is the increasing demand for affordable housing. With a growing population and urbanization, there is a need for housing options that cater to the middle and lower-income segments of the population. Additionally, there is a preference for properties that offer modern amenities and infrastructure, such as gated communities with security features and access to basic services like water and electricity. Trends in the Tanzanian real estate market reflect these customer preferences. There has been a rise in the construction of affordable housing projects, both by the government and private developers. These projects aim to provide decent and affordable housing options to a larger segment of the population. In addition, there has been an increase in the development of mixed-use properties, which combine residential, commercial, and retail spaces in one location. This trend caters to the demand for convenience and accessibility, as people seek to live, work, and shop in close proximity. Local special circumstances also contribute to the development of the real estate market in Tanzania. One such circumstance is the government's focus on infrastructure development. The government has been investing in improving transportation networks, including roads and airports, which has led to increased connectivity and accessibility to different regions. This has not only opened up new areas for real estate development but has also attracted both local and foreign investors. Underlying macroeconomic factors have also played a role in the growth of the Tanzanian real estate market. The country has experienced stable economic growth in recent years, driven by sectors such as agriculture, mining, and tourism. This has created a favorable environment for real estate investment, as investors see the potential for returns on their investments. Additionally, the government has implemented policies and reforms to attract foreign direct investment, which has further stimulated the real estate market. In conclusion, the Tanzanian real estate market is developing in response to customer preferences for affordable housing and modern amenities. The trends in the market include the construction of affordable housing projects and the development of mixed-use properties. Local special circumstances, such as infrastructure development, and underlying macroeconomic factors, including stable economic growth and government policies, have also contributed to the growth of the market.

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.

Overview

  • Value
  • Value Split
  • Volume
  • Analyst Opinion
  • Transaction Value
  • Methodology
  • Key Market Indicators
Please wait

Contact

Get in touch with us. We are happy to help.
Statista Locations
Contact Meredith Alda
Meredith Alda
Sales Manager– Contact (United States)

Mon - Fri, 9am - 6pm (EST)

Contact Yolanda Mega
Yolanda Mega
Operations Manager– Contact (Asia)

Mon - Fri, 9am - 5pm (SGT)

Contact Kisara Mizuno
Kisara Mizuno
Senior Business Development Manager– Contact (Asia)

Mon - Fri, 10:00am - 6:00pm (JST)

Contact Lodovica Biagi
Lodovica Biagi
Director of Operations– Contact (Europe)

Mon - Fri, 9:30am - 5pm (GMT)

Contact Carolina Dulin
Carolina Dulin
Group Director - LATAM– Contact (Latin America)

Mon - Fri, 9am - 6pm (EST)