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The residential real estate leases market in Iran is experiencing significant development and growth.
Customer preferences: Customer preferences in the residential real estate leases market in Iran are influenced by several factors. One of the key preferences is for affordable housing options. As the cost of living continues to rise, many individuals and families are seeking more affordable rental options. Additionally, there is a growing demand for properties with modern amenities and convenient locations. Customers are increasingly looking for properties that offer easy access to transportation, schools, and other essential services.
Trends in the market: One of the prominent trends in the residential real estate leases market in Iran is the increasing popularity of short-term rentals. This trend is driven by the rise of online platforms that connect property owners with potential tenants. Short-term rentals provide flexibility for both landlords and tenants, allowing landlords to maximize their rental income and tenants to have more options when it comes to their housing needs. This trend is particularly popular in major cities where there is a high demand for temporary accommodation, such as for business travelers or tourists. Another trend in the market is the growing interest in sustainable and eco-friendly housing options. As awareness about environmental issues increases, there is a rising demand for properties that are energy-efficient and utilize sustainable building materials. This trend is driven by both customer preferences and government initiatives to promote sustainable development in the real estate sector.
Local special circumstances: There are several local special circumstances that are influencing the development of the residential real estate leases market in Iran. One of the key factors is the country's young population. With a large percentage of the population being under the age of 35, there is a high demand for rental properties. Many young Iranians are delaying marriage and starting families, which has led to an increased demand for affordable rental housing options. Additionally, the recent easing of sanctions has opened up opportunities for foreign investment in the real estate sector. This has led to an influx of foreign capital and expertise, which has contributed to the development of the market. The government has also implemented policies to attract foreign investors, such as providing tax incentives and streamlining the process for obtaining permits and licenses.
Underlying macroeconomic factors: Several underlying macroeconomic factors are driving the development of the residential real estate leases market in Iran. One of the key factors is the country's strong economic growth. Iran has experienced significant economic expansion in recent years, which has led to an increase in household income and purchasing power. This has resulted in a higher demand for rental properties as more individuals and families are able to afford housing. Another factor is the urbanization trend in Iran. As more people move to cities in search of better job opportunities and a higher standard of living, the demand for rental properties in urban areas has increased. This trend is expected to continue as the country's population continues to grow and urbanization rates rise. In conclusion, the residential real estate leases market in Iran is developing and growing due to customer preferences for affordable housing, the popularity of short-term rentals, and the demand for sustainable housing options. Local special circumstances, such as the young population and the easing of sanctions, are also contributing to the market's development. Underlying macroeconomic factors, including strong economic growth and urbanization, are driving the demand for rental properties in Iran.
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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)