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Residential Real Estate Leases - Belarus

Belarus

The Residential Real Estate Leases market market in Belarus is anticipated to witness a significant growth in the coming years.
By 2024, the projected revenue for this market segment is estimated to reach US$1.13bn.
Apartment Leases, in particular, is expected to dominate the market with a projected market volume of US$0.91bn in 2024.
This indicates a strong demand for residential properties in the country.
Furthermore, it is projected that the revenue of the Residential Real Estate Leases market market will continue to grow at an annual growth rate of 3.77% from 2024 to 2029.
This growth rate, also known as the compound annual growth rate (CAGR), is expected to result in a market volume of US$1.36bn by 2029.
This indicates a positive outlook for the residential real estate leasing market in Belarus, with sustained growth expected in the coming years.
The residential real estate lease market in Belarus is experiencing a surge in demand due to favorable government policies and increasing urbanization.

Key regions: Japan, China, Australia, Germany, United States

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Analyst Opinion

The Residential Real Estate Leases market in Belarus is experiencing significant development and growth.

Customer preferences: Customers in Belarus are increasingly opting for residential real estate leases due to several factors. Firstly, leasing provides flexibility and freedom for individuals who do not want to commit to long-term property ownership. This is particularly appealing to young professionals and expatriates who may have uncertain or temporary living arrangements. Additionally, leasing allows individuals to live in desirable neighborhoods and properties that may be unaffordable for them to purchase.

Trends in the market: One major trend in the residential real estate leases market in Belarus is the increasing demand for modern and well-furnished apartments. Customers are seeking properties that offer modern amenities, such as high-speed internet, air conditioning, and secure parking. This trend is driven by the growing expectations of customers who desire a comfortable and convenient living experience. Landlords and property developers are responding to this trend by investing in the renovation and modernization of existing properties, as well as the construction of new apartment complexes. Another trend in the market is the rise of co-living spaces. Co-living is a concept where individuals or groups of people share living spaces, such as apartments or houses, with shared common areas and amenities. This trend is driven by the desire for social interaction and community, particularly among young professionals and expatriates. Co-living spaces often offer additional services, such as cleaning, maintenance, and social activities, which further enhance the appeal of this living arrangement.

Local special circumstances: In Belarus, the residential real estate leases market is influenced by the country's economic and political situation. The government has implemented policies to encourage investment in the real estate sector, including tax incentives for property developers and landlords. This has led to an increase in the supply of residential properties available for lease. Additionally, the stability of the Belarusian economy and the relatively low cost of living compared to other European countries make it an attractive destination for individuals seeking affordable housing options.

Underlying macroeconomic factors: The development of the residential real estate leases market in Belarus is also influenced by macroeconomic factors. The country's growing middle class and increasing urbanization have resulted in a higher demand for housing. Additionally, low interest rates and favorable financing options have made it easier for individuals to invest in real estate properties for leasing purposes. The government's focus on infrastructure development and urban regeneration projects has also contributed to the growth of the market by improving the overall quality of housing stock and creating more attractive living environments. In conclusion, the residential real estate leases market in Belarus is experiencing significant growth due to customer preferences for flexibility and affordable housing options. The market is characterized by trends such as the demand for modern and well-furnished apartments, as well as the rise of co-living spaces. The local special circumstances, including government policies and the country's economic stability, further contribute to the development of the market. Overall, the underlying macroeconomic factors, such as the growing middle class and favorable financing options, support the continued growth of the residential real estate leases market in Belarus.

Methodology

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.