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Madagascar Residential Building (Design & Construction) Industry Analysis
Madagascar is a country located in the Indian Ocean off the southeast coast of Africa. The country has a population of over 27 million people and is the fourth-largest island in the world. The New residential buildings construction projects industry in Madagascar is still in its infancy, and the government is taking steps to encourage more investment in this area.
Currently, the residential real estate market in Madagascar is still dominated by traditional housing, with a majority of people living in rural areas and owning their homes. However, there has been a recent increase in demand for modern housing, especially in urban areas, due to the growing middle class and the increasing urbanization of the country.
The government of Madagascar has been making efforts to promote the construction of new residential buildings in the country. In 2015, the government launched a new housing policy aimed at increasing access to affordable housing. The policy aimed to construct 10,000 new housing units each year for five years. This initiative has been successful in attracting local and foreign investment in the construction industry.
Despite the government's efforts, there are still challenges facing the industry. One of the biggest challenges is the high cost of construction materials, which makes building new homes expensive. This makes it difficult for many people to afford new homes, especially those living in poverty. Additionally, the lack of infrastructure and financing options for developers makes it challenging to build large-scale residential projects.
Despite these challenges, the industry outlook for the New residential buildings construction projects industry in Madagascar is positive. The government's efforts to promote the construction of affordable housing have attracted investment in the sector. The country's growing middle class and urbanization trends are expected to continue driving demand for new homes, particularly in urban areas.
In conclusion, the New residential buildings construction projects industry in Madagascar is still in its early stages, but the government's efforts to promote affordable housing and attract investment in the sector are promising. The industry outlook is positive, with the growing middle class and urbanization trends expected to continue driving demand for new homes. However, there are still challenges facing the industry, such as high construction costs and a lack of infrastructure and financing options.
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