Key regions: Japan, China, Australia, Germany, United States
The Residential Real Estate Leases market in Chile is experiencing significant development and growth.
Customer preferences: Customers in the Residential Real Estate Leases market in Chile are increasingly looking for flexible and affordable housing options. With the rising cost of homeownership and the desire for mobility, many individuals and families are choosing to rent rather than buy property. Additionally, the younger generation, including millennials and Generation Z, are more inclined to prioritize experiences over ownership, making rental properties an attractive option.
Trends in the market: One major trend in the Residential Real Estate Leases market in Chile is the increasing demand for furnished rental properties. This trend is driven by the growing number of expatriates and international students in the country, who often prefer the convenience of fully furnished accommodations. Landlords and property owners are capitalizing on this trend by offering fully furnished rental units, which can command higher rental prices. Another trend in the market is the rise of co-living spaces. Co-living spaces provide shared accommodations, often with communal areas and amenities, catering to individuals who value community and social interaction. This trend is particularly popular among young professionals and digital nomads who seek affordable housing options that also foster a sense of belonging and connection.
Local special circumstances: Chile's stable economy and growing middle class have contributed to the development of the Residential Real Estate Leases market. The country has experienced steady economic growth and a favorable investment climate, attracting both domestic and foreign investors. Additionally, the government has implemented policies to encourage the construction of rental properties, such as tax incentives and streamlined regulations.
Underlying macroeconomic factors: Several macroeconomic factors have influenced the development of the Residential Real Estate Leases market in Chile. Firstly, the country's urbanization rate has been steadily increasing, leading to a higher demand for rental properties in urban areas. Secondly, the country's low interest rates have made it more affordable for individuals and families to rent rather than buy property. Lastly, the growth of the sharing economy and the rise of digital platforms have made it easier for property owners to advertise and rent out their properties, further fueling the growth of the market.
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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Mon - Fri, 9am - 6pm (EST)
