Key regions: Japan, China, Australia, Germany, United States
The Residential Real Estate Leases market in Israel has been experiencing significant growth in recent years, driven by various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Residential Real Estate Leases market in Israel have been shifting towards more flexible and affordable housing options. With the rising cost of homeownership and the desire for mobility, many individuals and families are opting for rental properties instead of purchasing homes. This preference for flexibility is particularly strong among young professionals and students who value the ability to move easily and explore different neighborhoods. In terms of market trends, there has been a notable increase in the demand for short-term rentals in popular tourist destinations such as Tel Aviv and Jerusalem. This trend can be attributed to the growing tourism industry in Israel, with more visitors opting for vacation rentals instead of traditional hotels. Additionally, the emergence of online platforms and apps that facilitate short-term rentals has made it easier for property owners to list their properties and for renters to find suitable accommodations. Local special circumstances also play a role in the development of the Residential Real Estate Leases market in Israel. For example, the high population density and limited land availability in major cities have led to a shortage of housing supply, driving up rental prices. Additionally, the Israeli government has implemented policies to encourage the construction of affordable rental housing, further fueling the demand for residential leases. Underlying macroeconomic factors also contribute to the growth of the Residential Real Estate Leases market in Israel. The country's strong economy and stable political environment have attracted foreign investors, leading to increased investment in real estate. This influx of investment has resulted in the development of new residential properties and the expansion of the rental market. In conclusion, the Residential Real Estate Leases market in Israel is experiencing growth due to shifting customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. As more individuals and families opt for flexible and affordable housing options, the demand for residential leases continues to rise. The emergence of short-term rentals and the shortage of housing supply in major cities further contribute to the growth of the market. Additionally, the country's strong economy and stable political environment attract foreign investment, driving the development of new residential properties.
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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