Key regions: Japan, China, Australia, Germany, United States
The Residential Real Estate Leases market in the Nordics has been experiencing significant growth in recent years, driven by customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Nordics have shifted towards renting rather than buying residential properties. This can be attributed to several factors, including a desire for flexibility and mobility, as well as the high cost of homeownership. Renting allows individuals to have more freedom to move around and explore different areas, without the commitment and financial burden of owning a property. Additionally, renting provides access to amenities and services that may not be available to homeowners. Trends in the market have also contributed to the growth of the Residential Real Estate Leases market in the Nordics. One notable trend is the rise of co-living spaces, where individuals share living spaces and amenities. This trend has gained popularity among young professionals and students, who value the social aspect and cost savings of co-living. Another trend is the increasing demand for environmentally sustainable and energy-efficient properties. Renters in the Nordics are becoming more conscious of their carbon footprint and are seeking properties that align with their values. Local special circumstances in the Nordics have played a role in the development of the Residential Real Estate Leases market. One such circumstance is the high level of urbanization in the region. The majority of the population in the Nordics live in urban areas, where the demand for rental properties is higher due to limited space and higher property prices. Additionally, the Nordics have a strong social welfare system, which provides support for individuals who choose to rent rather than own a property. This has created a favorable environment for the growth of the rental market. Underlying macroeconomic factors have also influenced the development of the Residential Real Estate Leases market in the Nordics. The region has experienced stable economic growth, low unemployment rates, and low interest rates, which have made renting an attractive option for individuals. Furthermore, the Nordics have a strong rental market regulation, which provides security and protection for both landlords and tenants. This regulatory framework has created a stable and transparent rental market, attracting both domestic and international investors. In conclusion, the Residential Real Estate Leases market in the Nordics has been growing due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Renting has become a popular choice for individuals in the region, driven by the desire for flexibility, cost savings, and access to amenities. The rise of co-living spaces and the demand for environmentally sustainable properties are also shaping the market. The high level of urbanization, strong social welfare system, and favorable macroeconomic conditions further contribute to the growth of the rental market in the Nordics.
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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