Residential Real Estate - BRICS

BRICS

The Residential Real Estate market market in BRICS is forecasted to reach a staggering value of US$166.30tn by 2024.
This market segment is projected to experience an annual growth rate of 2.36% between 2024 and 2029, leading to a market volume of US$186.90tn by 2029.
When compared globally, it is noteworthy that China will generate the highest value in Real Estate, with a projected value of US$112.9tn by 2024.
In Brazil, the residential real estate market is experiencing a surge in demand due to low interest rates and government incentives.

Key regions: Europe, Brazil, France, Asia, United States

Market

Region

Region comparison

Currency

Analyst Opinion

The Residential Real Estate market in BRICS is witnessing significant development and growth. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this positive trajectory. Customer preferences in the Residential Real Estate market in BRICS are shifting towards properties that offer a combination of affordability, amenities, and location. With a growing middle class and increasing urbanization, there is a strong demand for housing that meets the needs of young professionals and families. Customers are seeking properties that are well-connected to transportation networks, have access to quality education and healthcare facilities, and offer recreational and leisure activities. Additionally, there is a rising preference for eco-friendly and sustainable housing options. Trends in the market vary across the BRICS countries. In Brazil, there is a growing trend of vertical living, with high-rise apartment complexes becoming increasingly popular in urban areas. This is driven by the need to accommodate the growing population in limited land spaces. In Russia, there is a focus on the development of affordable housing, with the government implementing measures to stimulate the construction of low-cost residential units. In India, the market is witnessing a surge in demand for affordable housing under government initiatives such as Pradhan Mantri Awas Yojana. China, on the other hand, is experiencing a shift towards a more regulated and controlled real estate market, with stricter measures being implemented to curb speculative investment and stabilize property prices. Local special circumstances also play a role in the development of the Residential Real Estate market in BRICS. In Brazil, the market is influenced by factors such as political stability, economic growth, and infrastructure development. In Russia, the market is impacted by the availability of mortgage financing and government policies aimed at stimulating the housing sector. In India, the market is influenced by factors such as population growth, urbanization, and government initiatives to promote affordable housing. In China, the market is shaped by factors such as government regulations, urbanization, and demographic changes. Underlying macroeconomic factors contribute to the growth of the Residential Real Estate market in BRICS. Economic growth, low-interest rates, and favorable demographic trends are key drivers of demand for housing. Additionally, government policies and initiatives aimed at supporting the housing sector, such as subsidies, tax incentives, and regulatory reforms, play a crucial role in shaping the market. Overall, the Residential Real Estate market in BRICS is developing in response to changing customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The market is characterized by a demand for affordable and well-located properties, with each BRICS country experiencing its own unique dynamics and challenges.

Methodology

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.