Key regions: Japan, China, Australia, Germany, United States
The Residential Real Estate Leases market in Hungary has been experiencing steady growth in recent years, driven by a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Residential Real Estate Leases market in Hungary have been shifting towards rental properties for various reasons. One key factor is the flexibility that renting offers, allowing individuals to easily relocate or downsize as needed. Additionally, renting eliminates the need for large upfront investments and provides a hassle-free living experience with maintenance and repairs typically taken care of by the landlord. These customer preferences have contributed to the increasing demand for residential real estate leases in Hungary. Trends in the market have also played a significant role in the development of the Residential Real Estate Leases market in Hungary. One notable trend is the growing popularity of co-living spaces, particularly among younger generations. Co-living spaces provide an affordable and social living environment, appealing to individuals seeking a sense of community and shared experiences. This trend has led to the emergence of specialized co-living operators and the conversion of existing properties into co-living spaces, further expanding the rental market in Hungary. Local special circumstances have further fueled the growth of the Residential Real Estate Leases market in Hungary. The country's urbanization and population growth have increased the demand for housing, particularly in major cities like Budapest. Limited availability of affordable housing for purchase has led many individuals to turn to renting as a more viable option. This has created a favorable environment for property owners and investors, driving the expansion of the rental market. Underlying macroeconomic factors have also played a role in the development of the Residential Real Estate Leases market in Hungary. Favorable interest rates and government policies promoting investment in real estate have incentivized individuals and companies to enter the rental market. Additionally, economic stability and steady GDP growth have boosted consumer confidence and disposable incomes, allowing more people to afford rental properties. In conclusion, the Residential Real Estate Leases market in Hungary has been growing steadily due to customer preferences for flexibility and hassle-free living, market trends such as the rise of co-living spaces, local special circumstances including urbanization and population growth, and underlying macroeconomic factors such as favorable interest rates and economic stability. These factors have created a conducive environment for the expansion of the rental market in Hungary.
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)
