Key regions: Europe, Brazil, France, Asia, United States
The Residential Real Estate market in Bosnia and Herzegovina is experiencing steady growth and development.
Customer preferences: Customers in Bosnia and Herzegovina are increasingly looking for modern and well-designed residential properties. They value properties that offer a high level of comfort and convenience, with amenities such as parking spaces, balconies, and access to green spaces. There is also a growing demand for energy-efficient homes, as customers are becoming more conscious of environmental sustainability.
Trends in the market: One of the key trends in the residential real estate market in Bosnia and Herzegovina is the increasing popularity of apartment living. Many customers, especially young professionals and families, are opting for apartments due to their affordability and low maintenance. This trend is also driven by the limited availability of land in urban areas, making apartments a more practical choice for many buyers. Another trend in the market is the rise of gated communities and residential complexes. These developments offer a range of amenities such as swimming pools, playgrounds, and fitness centers, which attract buyers looking for a complete living experience. The demand for such developments is driven by the desire for a secure and convenient lifestyle.
Local special circumstances: Bosnia and Herzegovina is a country with a rich cultural heritage and natural beauty. This has led to an increasing interest in properties located in historic city centers or in scenic areas such as mountain resorts and coastal regions. Buyers are willing to pay a premium for properties that offer a unique and picturesque setting.
Underlying macroeconomic factors: The residential real estate market in Bosnia and Herzegovina is influenced by several macroeconomic factors. The country's stable economic growth and low unemployment rate have contributed to increased purchasing power among potential buyers. Additionally, low interest rates and favorable mortgage conditions have made it easier for individuals to finance their home purchases. Furthermore, the government has implemented various incentives to stimulate the real estate market, such as tax breaks for first-time homebuyers. These measures have encouraged more people to enter the market and invest in residential properties. In conclusion, the residential real estate market in Bosnia and Herzegovina is experiencing growth and development driven by customer preferences for modern and well-designed properties. The increasing popularity of apartment living and the rise of gated communities are key trends in the market. Local special circumstances, such as the country's cultural heritage and natural beauty, also play a role in shaping customer preferences. The underlying macroeconomic factors, including stable economic growth and favorable mortgage conditions, have further contributed to the market's growth.
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.
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