Key regions: Japan, China, Australia, Germany, United States
The Residential Real Estate Leases market in South America has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences in South America have shifted towards renting residential properties instead of buying. This can be attributed to various factors such as changing lifestyles, increasing urbanization, and the desire for flexibility. Renting provides individuals with the freedom to move locations easily, especially for those who are not ready to commit to a long-term investment. Additionally, renting allows individuals to access properties in desirable locations that may be otherwise unaffordable for purchase. These customer preferences have created a strong demand for residential real estate leases in South America. Trends in the market further support the growth of the Residential Real Estate Leases market in South America. One notable trend is the rise of co-living spaces. Co-living offers individuals the opportunity to live in shared accommodations, often with communal spaces and amenities. This trend has gained popularity among young professionals and students who are looking for affordable housing options and a sense of community. Co-living spaces also provide property owners with the opportunity to maximize their rental income by leasing out multiple rooms within a single property. Another trend in the market is the increasing demand for furnished rental properties. Many individuals, especially expatriates and international students, prefer to rent furnished properties to avoid the hassle and cost of purchasing and transporting furniture. This trend has led to the emergence of specialized companies that offer fully furnished rental properties, catering to the needs of this specific customer segment. Local special circumstances in South America have also contributed to the growth of the Residential Real Estate Leases market. In some countries, such as Brazil and Argentina, the high cost of real estate and strict mortgage lending regulations have made it difficult for individuals to purchase homes. As a result, renting has become the preferred option for many residents. Additionally, the growing middle class in South America has increased the demand for rental properties, as more individuals are looking for affordable housing options. Underlying macroeconomic factors have also played a role in the development of the Residential Real Estate Leases market in South America. Economic stability and growth in the region have created a favorable environment for investment in real estate. Furthermore, low interest rates have made borrowing more accessible, allowing property owners to finance the purchase of rental properties. In conclusion, the Residential Real Estate Leases market in South America is experiencing growth due to changing customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The shift towards renting, the rise of co-living spaces, the demand for furnished properties, high real estate costs, a growing middle class, economic stability, and low interest rates have all contributed to the expansion 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.
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