Key regions: United States, China, Japan, Germany, United Kingdom
The Real Estate market in Bhutan is experiencing significant growth and development in recent years, driven by various factors such as changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Bhutanese Real Estate market are shifting towards modern and sustainable housing options. With increasing urbanization and a growing middle class, there is a rising demand for apartments and condominiums that offer convenience, security, and modern amenities. Customers are also showing a preference for eco-friendly and energy-efficient housing solutions, reflecting a global trend towards sustainability. Additionally, there is a growing interest in properties that offer a blend of traditional Bhutanese architecture and modern design elements, catering to both cultural and aesthetic preferences. Trends in the Bhutanese Real Estate market are being influenced by global and regional developments. One notable trend is the rise of mixed-use developments, which combine residential, commercial, and recreational spaces in a single project. These developments cater to the demand for integrated living and provide convenience for residents by offering a range of amenities within walking distance. Another trend is the increasing popularity of gated communities, which provide a sense of security and exclusivity. These communities often offer shared amenities such as parks, swimming pools, and fitness centers, appealing to families and individuals seeking a high-quality lifestyle. Local special circumstances in Bhutan, such as the limited availability of land and strict regulations on construction, are shaping the Real Estate market. The mountainous terrain and the country's commitment to preserving its natural environment pose challenges for developers in terms of finding suitable land for construction. Additionally, Bhutan's unique Gross National Happiness (GNH) development philosophy emphasizes the importance of preserving cultural heritage and promoting sustainable development. This has led to regulations that restrict the height and design of buildings, ensuring that they blend harmoniously with the surrounding landscape and adhere to traditional Bhutanese architectural principles. Underlying macroeconomic factors are also contributing to the development of the Real Estate market in Bhutan. The country's stable economic growth, driven by sectors such as tourism, hydropower, and agriculture, has increased disposable income and purchasing power among the population. This has fueled demand for real estate, particularly in urban areas. Additionally, Bhutan's government has implemented policies and initiatives to promote the Real Estate sector, including providing incentives for developers and streamlining the approval process for construction projects. These measures have created a favorable investment climate and attracted both domestic and foreign investors to the market. In conclusion, the Real Estate market in Bhutan is experiencing growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The demand for modern and sustainable housing options, the rise of mixed-use developments, and the limited availability of land are shaping the market. Bhutan's stable economic growth and government support for the Real Estate sector further contribute to its development.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
