Key regions: Japan, China, Australia, Germany, United States
The Residential Real Estate Leases market in Czechia has been experiencing significant growth in recent years. This can be attributed to several factors including customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Residential Real Estate Leases market in Czechia have been shifting towards renting rather than buying properties. This is largely due to the flexibility and convenience that renting offers. Many individuals prefer to have the option to move locations easily or upgrade to a larger property without the financial commitment and responsibilities associated with owning a home. Additionally, renting allows individuals to avoid the high upfront costs of purchasing a property, making it a more affordable option for many. Trends in the market have also contributed to the growth of the Residential Real Estate Leases market in Czechia. The increasing number of young professionals and students in urban areas has created a strong demand for rental properties. These individuals often prefer to live in centrally located areas close to their workplaces or universities, and renting provides them with the flexibility to do so. Additionally, the rise of the sharing economy and the popularity of platforms such as Airbnb have also contributed to the growth of the rental market, as property owners are able to lease out their properties on a short-term basis. Local special circumstances in Czechia have also played a role in the development of the Residential Real Estate Leases market. The country has a relatively high homeownership rate compared to other European countries, which has limited the availability of rental properties. This has created a competitive rental market, driving up rental prices and increasing demand for rental properties. Additionally, the influx of foreign workers and expatriates in Czechia has also contributed to the growth of the rental market, as these individuals often prefer to rent rather than buy property due to the temporary nature of their stay. Underlying macroeconomic factors have also had an impact on the Residential Real Estate Leases market in Czechia. The country has experienced strong economic growth in recent years, which has led to an increase in disposable income and improved affordability for renting. Additionally, low interest rates and favorable mortgage conditions have made it easier for individuals to invest in rental properties, further driving the growth of the market. Overall, the Residential Real Estate Leases market in Czechia is developing due to customer preferences for renting, trends in the market such as the rise of the sharing economy, local special circumstances including high homeownership rates and an influx of foreign workers, and underlying macroeconomic factors such as strong economic growth and favorable mortgage conditions. These factors are likely to continue driving the growth of the market in the coming years.
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)
