Key regions: Japan, China, Australia, Germany, United States
The Residential Real Estate Leases market in Hong Kong has been experiencing significant developments in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to the evolution of this market. Customer preferences in the Residential Real Estate Leases market in Hong Kong have shifted towards smaller and more affordable rental properties. This is primarily driven by the rising cost of living and limited housing supply in the city. As a result, there has been an increase in demand for studio apartments and micro flats, which offer more affordable rental options for individuals and small families. Additionally, customers are also placing a greater emphasis on location and accessibility, with properties in prime areas and close proximity to public transportation being highly sought after. Trends in the market have also played a significant role in shaping the Residential Real Estate Leases market in Hong Kong. One notable trend is the growing popularity of co-living spaces. These shared living arrangements provide residents with the opportunity to live in a community-oriented environment and enjoy shared amenities, such as common areas and coworking spaces. Co-living spaces cater to the needs of young professionals and expatriates who value convenience, flexibility, and a sense of community. Local special circumstances in Hong Kong have further influenced the development of the Residential Real Estate Leases market. The limited land supply and high population density in the city have led to a scarcity of available housing units. This has resulted in increased competition for rental properties, driving up rental prices and making it more challenging for individuals to find affordable housing options. Additionally, the high cost of property ownership has also contributed to the preference for renting rather than buying among Hong Kong residents. Underlying macroeconomic factors have also had an impact on the Residential Real Estate Leases market in Hong Kong. The city's strong economic growth and status as a global financial hub have attracted a large number of expatriates and foreign professionals, leading to increased demand for rental properties. Additionally, low interest rates and government policies aimed at stimulating the real estate market have encouraged property investment, further driving up rental prices. In conclusion, the Residential Real Estate Leases market in Hong Kong has been shaped by customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The shift towards smaller and more affordable rental properties, the growing popularity of co-living spaces, limited housing supply, and high population density, as well as the city's economic growth and government policies, have all contributed to the development of this 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 - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
