Key regions: Japan, China, Australia, Germany, United States
The Residential Real Estate Leases market in EAEU is experiencing significant growth and development.
Customer preferences: Customers in the EAEU region have shown a strong preference for residential real estate leases due to several reasons. Firstly, leasing provides flexibility for individuals who may not want to commit to a long-term property ownership. It allows them to have a place to live without the financial burden of purchasing a property. Secondly, leasing offers a more affordable option for individuals who may not have the means to buy a property outright. This is particularly appealing to younger generations who are just starting their careers and may not have accumulated enough savings for a down payment. Lastly, leasing provides a sense of stability and security for individuals who may not want to deal with the responsibilities of property maintenance and repairs.
Trends in the market: One of the key trends in the residential real estate leases market in the EAEU is the increasing demand for rental properties in urban areas. As cities continue to grow and attract more people, the demand for housing also increases. This trend is driven by factors such as urbanization, migration, and the concentration of job opportunities in urban centers. As a result, property owners are capitalizing on this demand by converting their properties into rental units or investing in new residential developments specifically designed for leasing purposes. 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, often with shared common areas and amenities. This trend is particularly popular among young professionals and students who are looking for more affordable housing options and a sense of community. Co-living spaces not only provide affordable accommodation but also foster a sense of belonging and social interaction.
Local special circumstances: The residential real estate leases market in the EAEU is influenced by several local special circumstances. One of these is the availability of affordable housing options. In some countries within the EAEU, such as Kazakhstan and Belarus, the government has implemented policies to promote affordable housing for its citizens. This has led to an increase in the supply of rental properties, making leasing an attractive option for individuals. Another local special circumstance is the presence of a growing middle class in the EAEU region. As the economy continues to develop and incomes rise, more individuals are able to afford housing and are looking to lease properties. This has created a demand for higher-quality rental units with modern amenities and convenient locations.
Underlying macroeconomic factors: The development of the residential real estate leases market in the EAEU is also influenced by underlying macroeconomic factors. Economic growth and stability play a crucial role in driving demand for housing. As the economies in the EAEU region continue to grow, more individuals have the means to enter the housing market, either through purchasing or leasing properties. Additionally, favorable interest rates and mortgage lending conditions can also impact the residential real estate leases market. If mortgage rates are high or lending conditions are strict, individuals may opt for leasing as a more accessible and affordable housing option. In conclusion, the residential real estate leases market in the EAEU is experiencing growth and development due to customer preferences for flexibility, affordability, and stability. The market is characterized by trends such as the increasing demand for rental properties in urban areas and the rise of co-living spaces. Local special circumstances, such as the availability of affordable housing options and the presence of a growing middle class, further contribute to the market's development. Underlying macroeconomic factors, including economic growth and favorable lending conditions, also play a significant role in shaping 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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