Key regions: United States, China, Japan, Germany, United Kingdom
The Real Estate market in Nordics has been experiencing significant growth and development in recent years.
Customer preferences: Customers in the Nordics have shown a strong preference for sustainable and environmentally friendly properties. This trend is driven by the region's commitment to sustainability and the increasing awareness of the impact of buildings on the environment. As a result, there has been a surge in demand for energy-efficient and green buildings, which has led to the development of innovative construction techniques and materials.
Trends in the market: One of the key trends in the Nordic Real Estate market is the rise of co-living and co-working spaces. With the increasing number of startups and freelancers in the region, there has been a growing demand for flexible and collaborative workspaces. This trend has also extended to the residential sector, with the rise of co-living spaces that offer affordable and communal living arrangements. This trend is driven by the changing preferences of the younger generation, who value flexibility and community. Another trend in the market is the increasing popularity of mixed-use developments. Developers in the Nordics are increasingly integrating residential, commercial, and retail spaces in their projects to create vibrant and self-sustaining communities. This trend is driven by the desire for convenience and the demand for a live-work-play lifestyle. Mixed-use developments also contribute to the efficient use of land and resources, making them an attractive option for both developers and customers.
Local special circumstances: The Nordics have a unique set of circumstances that contribute to the development of the Real Estate market. The region has a high standard of living and a strong social welfare system, which attracts both domestic and international investors. Additionally, the Nordics have a stable political and economic environment, which provides a favorable investment climate.
Underlying macroeconomic factors: The Real Estate market in the Nordics is also influenced by underlying macroeconomic factors. The region has experienced strong economic growth in recent years, driven by factors such as low interest rates, high employment rates, and increasing population. These factors have led to a surge in demand for housing and commercial properties, driving up prices and creating opportunities for investors. In conclusion, the Real Estate market in the Nordics is developing in response to customer preferences for sustainable and flexible properties. The rise of co-living and co-working spaces, as well as mixed-use developments, reflect the changing needs and preferences of customers in the region. The stable political and economic environment, coupled with strong macroeconomic factors, contribute to the growth and development of the market.
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.
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