Definition:
The residential real estate market covers the leases and transactions of residential properties. Residential real estate leases refer to the market where landlords and tenants enter into agreements for the rental of residential properties, such as apartments, houses, and condominiums, while residential real can be defined as buying, selling, or transfer of ownership of residential properties.Structure:
The residential real estate market covers real estate transactions and leases, and the section, residential real estate leases, is divided into apartment and house leases.Additional information:
The market contains the following KPIs: real estate value aggregated for all countries and regions, average real estate value, real estate transaction revenue, number of real estate sold, number of leased and owned real estate, average room per resident, and dwelling type shares. The dwelling type shares comprise the share of the population that lives in houses and apartments. These shares are displayed for real estate owners and for real estate renters as well.Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Jul 2024
Source: Statista Market Insights
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Jul 2024
Source: Statista Market Insights
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Jul 2024
Source: Statista Market Insights
Most recent update: Jul 2024
Source: Statista Market Insights
Most recent update: Jul 2024
Source: Statista Market Insights
The Residential Real Estate market in Bolivia has been experiencing significant growth in recent years.
Customer preferences: Bolivian consumers have shown a strong preference for residential properties that offer modern amenities and convenient locations. They are increasingly looking for properties that are close to schools, shopping centers, and other essential services. Additionally, there is a growing demand for properties with green spaces and recreational facilities, as people are placing more importance on a healthy and active lifestyle.
Trends in the market: One of the key trends in the Bolivian Residential Real Estate market is the increasing popularity of gated communities. These communities offer a sense of security and exclusivity, which is highly valued by buyers. Gated communities also often provide additional amenities such as swimming pools, parks, and sports facilities, making them attractive to families and young professionals. The demand for these types of properties is expected to continue to rise in the coming years. Another trend in the market is the growing interest in sustainable and eco-friendly housing options. With the increasing awareness of environmental issues, buyers in Bolivia are showing a preference for properties that are energy-efficient and incorporate green building practices. Developers are responding to this demand by incorporating sustainable features such as solar panels, rainwater harvesting systems, and energy-efficient appliances into their projects.
Local special circumstances: Bolivia has a rapidly growing middle class, which is contributing to the demand for residential properties. As more people enter the middle class, they are seeking to invest in real estate as a way to secure their financial future. Additionally, the government has implemented policies to promote homeownership, such as providing subsidies and low-interest loans to first-time buyers. These initiatives are further driving the demand for residential properties in the country.
Underlying macroeconomic factors: Bolivia's strong economic growth and political stability have played a significant role in the development of the Residential Real Estate market. The country has experienced steady economic growth over the past decade, which has resulted in an increase in disposable income and improved living standards. This has created a favorable environment for real estate investment and has attracted both domestic and international buyers. Furthermore, low interest rates and favorable mortgage lending conditions have made it easier for buyers to finance their real estate purchases. This has stimulated demand and contributed to the overall growth of the market. In conclusion, the Residential Real Estate market in Bolivia is experiencing significant growth due to customer preferences for modern amenities and convenient locations, the popularity of gated communities, the demand for sustainable housing options, the growing middle class, and favorable macroeconomic factors such as strong economic growth and low interest rates. These factors are expected to continue driving the growth of the market in the coming years.
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Jul 2024
Source: Statista Market Insights
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Jul 2024
Source: Statista Market Insights
Most recent update: Jul 2024
Source: Statista Market Insights
Most recent update: Jul 2024
Source: Statista Market Insights
Data coverage:
Figures are based on total and average value of residential real estate, residential estate transactions and leases.Modeling approach:
Market size is determined by a combined top-down and bottom-up approach. We use national statistics, international organizations, and industry associations to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country specific industry associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita.Forecasts:
We use a variety of forecasting techniques, depending on the behavior of the market, for instance, 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:
Data is modeled using current exchange rates. 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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights