Key regions: Japan, China, Australia, Germany, United States
The Residential Real Estate Leases market in China is experiencing significant growth and development.
Customer preferences: Chinese customers are increasingly opting for residential real estate leases due to the flexibility and affordability they offer. Renting a property provides individuals with the freedom to move to different locations without the burden of long-term commitments associated with purchasing a property. Additionally, renting allows individuals to access high-quality properties in desirable locations that may be otherwise unaffordable for them to buy.
Trends in the market: One of the key trends in the Residential Real Estate Leases market in China is the rise of online platforms and technology-driven solutions. Digital platforms have made it easier for individuals to search for available properties, compare prices, and connect with landlords or property management companies. This has increased transparency and efficiency in the rental market, making it more accessible for both tenants and landlords. Another trend in the market is the increasing demand for rental properties in major cities. Rapid urbanization and population growth have led to a surge in the number of people seeking accommodation in urban areas. This has created a strong demand for rental properties, especially in cities with thriving job markets and educational institutions.
Local special circumstances: China's unique housing market regulations and restrictions have also contributed to the growth of the Residential Real Estate Leases market. The government has implemented measures to cool down the property market and prevent speculative investment. These measures include restrictions on property purchases, higher down payment requirements for mortgages, and limits on the number of properties an individual can own. As a result, many individuals are turning to renting as a more viable option for housing.
Underlying macroeconomic factors: China's economic growth and rising urbanization have played a significant role in the development of the Residential Real Estate Leases market. As the country's middle class expands, more people are entering the rental market as they seek affordable and flexible housing options. Additionally, the government's focus on urban development and infrastructure projects has attracted a large number of migrants to cities, further driving the demand for rental properties. In conclusion, the Residential Real Estate Leases market in China is experiencing growth and development due to customer preferences for flexibility and affordability, the rise of online platforms, increasing demand in major cities, unique housing market regulations, and underlying macroeconomic factors such as economic growth and urbanization.
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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