Key regions: Europe, Brazil, France, Asia, United States
The Residential Real Estate market in Nordics has been experiencing significant growth and development in recent years. Customer preferences in the Nordics have been shifting towards sustainable and energy-efficient properties. This is driven by the region's strong focus on environmental sustainability and the increasing awareness of the impact of buildings on climate change. Customers are willing to pay a premium for properties that have green certifications and incorporate sustainable features such as solar panels, energy-efficient appliances, and smart home technologies. Additionally, there is a growing demand for properties located in urban areas with easy access to public transportation and amenities. One of the key trends in the market is the rise of co-living and co-housing concepts. With the increasing cost of living and housing shortages in some urban areas, many individuals and families are opting for shared living arrangements. Co-living spaces provide affordable housing options and foster a sense of community, while co-housing developments offer shared amenities and common spaces for residents. These concepts cater to the changing needs and lifestyles of the younger generation and have gained popularity in the Nordics. Another trend in the market is the growing interest in second homes and vacation properties. The Nordics are known for their natural beauty and outdoor recreational activities, making them attractive destinations for both domestic and international buyers. Many individuals are investing in second homes in the region to enjoy the pristine landscapes and take advantage of the outdoor activities available. This trend has been further fueled by the rise of remote work, as people are now able to spend more time in their vacation properties. Local special circumstances in the Nordics include strict regulations and high construction standards. The region has stringent building codes and regulations that ensure the quality and safety of residential properties. These regulations contribute to the high standard of living in the Nordics and provide assurance to buyers. Additionally, the Nordics have a well-developed infrastructure and a stable political and economic environment, which further attract investors and buyers to the residential real estate market. Underlying macroeconomic factors such as low interest rates and strong economic growth have also contributed to the development of the residential real estate market in the Nordics. Low interest rates make borrowing more affordable, encouraging individuals to invest in properties. Furthermore, strong economic growth in the region has increased household incomes and purchasing power, leading to higher demand for residential properties. Overall, the Residential Real Estate market in the Nordics is experiencing growth and development driven by customer preferences for sustainable properties, the rise of co-living and co-housing concepts, and the demand for second homes. Local special circumstances such as strict regulations and high construction standards, along with underlying macroeconomic factors like low interest rates and strong economic growth, further contribute to the market's development.
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.
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)
