Key regions: Japan, China, Australia, Germany, United States
The Residential Real Estate Leases market in Australia & Oceania is experiencing significant growth and development.
Customer preferences: Customers in Australia & Oceania have shown a strong preference for residential real estate leases due to several factors. Firstly, the flexibility offered by leases allows individuals and families to have a place to live without the long-term commitment of purchasing a property. This is particularly appealing to younger generations who value mobility and the ability to explore different cities and neighborhoods. Additionally, leasing provides an opportunity for individuals to experience a certain lifestyle or neighborhood before committing to purchasing a property.
Trends in the market: One of the key trends in the Residential Real Estate Leases market in Australia & Oceania is the increasing demand for rental properties. This can be attributed to various factors such as population growth, urbanization, and changing socio-economic dynamics. As cities continue to expand and attract more residents, the demand for rental properties is expected to rise. Additionally, the rising cost of homeownership and stricter lending criteria have made it more difficult for individuals to enter the property market, leading to a greater reliance on rental properties. Another trend in the market is the emergence of co-living spaces. Co-living spaces are becoming popular among young professionals and students who are looking for affordable housing options and a sense of community. These spaces offer shared amenities and common areas, fostering social interaction and a sense of belonging. The demand for co-living spaces is expected to continue growing as more individuals seek affordable and flexible housing options in urban areas.
Local special circumstances: Australia & Oceania has a unique geography and diverse cultural landscape, which influences the residential real estate leases market. In Australia, for example, the high cost of housing in major cities like Sydney and Melbourne has led to an increase in demand for rental properties. Additionally, the growing number of international students and temporary residents in Australia has contributed to the demand for rental properties. In Oceania, the market is influenced by factors such as tourism and the demand for holiday rentals in popular destinations.
Underlying macroeconomic factors: Several underlying macroeconomic factors are driving the development of the Residential Real Estate Leases market in Australia & Oceania. Firstly, population growth and urbanization are contributing to the demand for rental properties. As cities become more crowded and housing prices increase, more individuals are opting for rental properties as a more affordable and flexible housing option. Additionally, economic factors such as job growth, income levels, and interest rates play a role in the demand for rental properties. As the economy grows and job opportunities increase, more individuals are likely to seek rental properties. In conclusion, the Residential Real Estate Leases market in Australia & Oceania is experiencing growth and development due to customer preferences for flexibility and affordability, as well as underlying macroeconomic factors such as population growth and urbanization. The market is also influenced by local special circumstances such as high housing costs in major cities and the demand for holiday rentals in popular destinations. Overall, the market is expected to continue growing as more individuals opt for rental properties as a housing solution.
Data coverage:
Figures are based on total and average revenue of residential apartment leases.Modeling approach:
Market size is determined by a 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 considered at a country-specific level.
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