Key regions: Japan, China, Australia, Germany, United States
The Residential Real Estate Leases market in Japan has been experiencing significant growth and development in recent years. Customer preferences in the market have shifted towards renting rather than buying property, driven by a number of factors. Firstly, the high cost of property ownership in Japan, particularly in major cities such as Tokyo and Osaka, has made renting a more affordable option for many individuals and families. Additionally, the flexibility and convenience of renting appeals to a younger generation who value mobility and the ability to easily relocate for work or personal reasons. Trends in the market reflect these changing preferences. There has been an increase in the number of rental properties available, both in terms of apartments and houses. Real estate developers and investors have recognized the demand for rental properties and have been actively constructing new buildings to cater to this market. This has led to a greater variety of rental options available, including furnished apartments and properties with shared amenities such as gyms and co-working spaces. Local special circumstances in Japan also contribute to the development of the Residential Real Estate Leases market. The country has a rapidly aging population, with a declining birth rate and increasing life expectancy. This demographic shift has resulted in a growing number of elderly individuals who are choosing to downsize their homes and move into rental properties. This has created a niche market for senior-friendly rental properties and retirement communities. Underlying macroeconomic factors are also driving the growth of the Residential Real Estate Leases market in Japan. The country has experienced a period of economic stagnation in recent years, with low interest rates and limited investment opportunities. As a result, many individuals and investors are turning to real estate as a way to generate income and build wealth. This has led to increased investment in the rental property market, further driving its growth. In conclusion, the Residential Real Estate Leases market in Japan is developing due to changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The shift towards renting rather than buying property, the increase in rental properties available, the aging population, and the desire for investment opportunities all contribute to the growth 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.
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)
