The Commercial Real Estate market in Australia & Oceania is experiencing significant growth and development. Customer preferences in the region are shifting towards more flexible workspaces and mixed-use developments. This is driven by the changing nature of work and the increasing demand for collaborative and community-oriented spaces. Additionally, there is a growing interest in sustainable and environmentally-friendly buildings, as customers become more conscious of their ecological footprint. Trends in the market include the rise of coworking spaces and the increasing demand for retail spaces in prime locations. Coworking spaces provide flexible and affordable options for startups and freelancers, while also fostering a sense of community and collaboration. Retail spaces in prime locations are sought after by both local and international retailers, as they offer high visibility and foot traffic. Local special circumstances in Australia & Oceania include the scarcity of land in major cities, which drives up property prices and encourages developers to build upwards. This has led to the construction of high-rise office buildings and residential towers, as well as the redevelopment of older buildings to maximize their potential. Additionally, the region's proximity to Asia has attracted foreign investors, particularly from China, who see Australia & Oceania as a safe and attractive market for real estate investment. Underlying macroeconomic factors that contribute to the development of the Commercial Real Estate market in Australia & Oceania include population growth, urbanization, and economic stability. The region has a growing population, which creates a demand for housing, office space, and retail establishments. Urbanization is also driving the need for more infrastructure and commercial developments to support the growing cities. Furthermore, the region's stable economy and strong financial system provide a favorable environment for real estate investment. In conclusion, the Commercial Real Estate market in Australia & Oceania is evolving to meet the changing needs and preferences of customers. The rise of flexible workspaces, the demand for prime retail locations, and the focus on sustainability are shaping the market. The scarcity of land, foreign investment, population growth, urbanization, and economic stability are all factors contributing to the development of the market.
Data coverage:
Figures are based on value of commercial real estate.Modeling approach / Market size:
Market sizes are determined by a bottom-up approach. As a basis for evaluating this market, we use national statistical offices. Next, we use relevant key market indicators and data from country-specific associations such as share of industry, manufacturing, and services of the GPD, price level index, GDP. 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 market, for example, exponential trend smoothing.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.
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