Key regions: Japan, China, Australia, Germany, United States
The Residential Real Estate Leases market in Luxembourg has been experiencing steady growth in recent years.
Customer preferences: Customers in Luxembourg are increasingly opting for residential real estate leases due to the flexibility and convenience they offer. Leasing allows individuals to have access to high-quality housing without the long-term commitment of buying a property. This is particularly appealing to the younger generation who value mobility and the ability to relocate for job opportunities. Additionally, expatriates and international workers are also attracted to leasing as it provides them with a hassle-free solution for their housing needs during their stay in Luxembourg.
Trends in the market: One of the key trends in the residential real estate leases market in Luxembourg is the increasing demand for furnished apartments. This trend is driven by the growing number of expatriates and international workers in the country who prefer to rent fully furnished properties. Furnished apartments provide convenience and eliminate the need for tenants to invest in furniture and appliances. Landlords are capitalizing on this trend by offering modern and stylishly furnished apartments that cater to the preferences of these tenants. Another trend in the market is the rise of co-living spaces. Co-living spaces are becoming popular among young professionals and students who are looking for affordable housing options with a sense of community. These spaces often offer shared amenities and common areas, fostering a sense of belonging and social interaction. The demand for co-living spaces is driven by the high cost of living in Luxembourg and the desire for a more affordable housing solution.
Local special circumstances: Luxembourg's strong economy and status as a financial hub have contributed to the growth of the residential real estate leases market. The country attracts a large number of expatriates and international workers who require housing during their stay. Additionally, the government has implemented policies to promote the rental market, such as the introduction of rent control measures and the expansion of social housing programs. These initiatives have created a favorable environment for the growth of the residential real estate leases market.
Underlying macroeconomic factors: The growth of the residential real estate leases market in Luxembourg is supported by several macroeconomic factors. The country's strong economic performance and low unemployment rate have increased disposable income and purchasing power, making renting a viable option for many individuals. Additionally, low interest rates and stringent lending criteria have made it more challenging for individuals to secure mortgages, leading them to choose leasing as an alternative. The stability of the real estate market and the favorable tax environment in Luxembourg also contribute to the attractiveness of the residential real estate leases market. In conclusion, the residential real estate leases market in Luxembourg is experiencing growth due to customer preferences for flexibility and convenience, the increasing demand for furnished apartments, and the rise of co-living spaces. The country's strong economy, favorable government policies, and underlying macroeconomic factors further support the growth of the 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)
