Key regions: Japan, China, Australia, Germany, United States
The Residential Real Estate Leases market in Cambodia is experiencing significant growth and development.
Customer preferences: Customers in Cambodia are increasingly opting for residential real estate leases due to several factors. Firstly, there is a growing trend towards urbanization, with more people moving from rural areas to cities in search of better job opportunities and a higher standard of living. This has led to an increase in demand for rental properties in urban areas. Additionally, young professionals and expatriates are also choosing to lease properties rather than purchase them, as it offers them flexibility and the ability to move around more easily.
Trends in the market: One of the key trends in the residential real estate leases market in Cambodia is the rise of serviced apartments. These are fully furnished apartments that come with amenities such as housekeeping, maintenance, and security services. Serviced apartments are particularly popular among expatriates and business travelers who are looking for a hassle-free living experience. The demand for serviced apartments is expected to continue growing in the coming years. Another trend in the market is the increasing popularity of co-living spaces. These are shared living spaces where individuals rent a room within a larger apartment or house and share common areas such as the kitchen and living room. Co-living spaces are gaining traction among young professionals and students who are looking for affordable housing options and a sense of community.
Local special circumstances: Cambodia has seen rapid economic growth in recent years, which has led to an increase in disposable incomes and a growing middle class. This has resulted in a higher demand for residential real estate leases, as more people are able to afford rental properties. Additionally, Cambodia has a young population, with a large percentage of the population below the age of 30. Younger individuals are more likely to opt for rental properties as they may not have the financial means to purchase a home.
Underlying macroeconomic factors: The growth of the residential real estate leases market in Cambodia can be attributed to several macroeconomic factors. The country has experienced stable economic growth, which has resulted in increased employment opportunities and higher incomes. This has led to a rise in consumer spending, including spending on housing. Additionally, the government has implemented policies to attract foreign investment, which has contributed to the growth of the real estate sector. The construction of new residential properties has also been supported by the availability of financing options from both local and international banks. In conclusion, the Residential Real Estate Leases market in Cambodia is witnessing significant growth and development due to customer preferences for flexibility, urbanization, and the rise of the middle class. The market is characterized by trends such as the popularity of serviced apartments and co-living spaces. These trends are supported by local special circumstances such as rapid economic growth and a young population. Overall, the market is driven by underlying macroeconomic factors such as stable economic growth and government policies to attract foreign investment.
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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