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Key regions: United States, China, Japan, Germany, United Kingdom
The Real Estate market in Northern Europe is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this positive trajectory. Customer preferences in the Real Estate market in Northern Europe are shifting towards sustainable and eco-friendly properties. Buyers and renters are increasingly looking for energy-efficient homes with green features such as solar panels, insulation, and smart home technology. This preference for sustainability is driven by a growing awareness of environmental issues and a desire to reduce carbon footprints. Additionally, there is a demand for properties that offer a high quality of life, with proximity to amenities such as parks, schools, and public transportation. One of the key trends in the Real Estate market in Northern Europe is the rise of co-living and co-working spaces. With the increasing number of freelancers, remote workers, and young professionals, there is a demand for flexible and affordable living and working arrangements. Co-living spaces provide shared living areas and amenities, allowing residents to socialize and network. Co-working spaces offer a professional and collaborative environment for individuals and small businesses. These trends reflect the changing nature of work and the desire for community and flexibility. Local special circumstances in Northern Europe also contribute to the development of the Real Estate market. For example, in countries such as Sweden and Finland, there is a shortage of housing due to population growth and urbanization. This shortage has led to an increase in construction activity and a focus on building new residential properties. Additionally, in countries like Norway and Denmark, there is a high demand for second homes and vacation properties, driven by a strong tourism industry and a desire for leisure and recreational activities. Underlying macroeconomic factors play a significant role in the growth of the Real Estate market in Northern Europe. Low interest rates and favorable mortgage conditions make it easier for individuals to enter the housing market and invest in properties. Economic stability and strong GDP growth in the region attract both domestic and international investors. Furthermore, government policies and incentives, such as tax breaks and subsidies for sustainable buildings, encourage investment in the Real Estate sector. In conclusion, the Real Estate market in Northern Europe is developing in response to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The shift towards sustainable properties, the rise of co-living and co-working spaces, housing shortages, and favorable economic conditions all 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.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)