Key regions: Japan, China, Australia, Germany, United States
The Residential Real Estate Leases market in Southern Africa is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this positive trajectory. Customer preferences in the Residential Real Estate Leases market in Southern Africa are shifting towards rental properties for various reasons. One of the main factors driving this preference is the flexibility that renting offers. Many individuals and families in Southern Africa are opting to rent rather than buy a property due to the ability to easily relocate for work or personal reasons. Additionally, renting provides a more affordable option for those who may not have the financial means to purchase a home. Trends in the market further support the growth of the Residential Real Estate Leases market in Southern Africa. One notable trend is the increase in demand for rental properties in urban areas. As cities in Southern Africa continue to grow and attract more people, the demand for housing in these areas also rises. This trend is driven by factors such as job opportunities, access to amenities, and a desire for a vibrant urban lifestyle. As a result, real estate developers are focusing on building rental properties in these urban centers to meet the growing demand. Local special circumstances also play a role in the development of the Residential Real Estate Leases market in Southern Africa. One such circumstance is the prevalence of informal settlements in many parts of the region. These settlements often lack basic infrastructure and services, making them undesirable for potential homeowners. As a result, individuals and families in these areas are more likely to opt for rental properties in formal housing developments. Underlying macroeconomic factors contribute to the growth of the Residential Real Estate Leases market in Southern Africa as well. Economic stability and growth in the region have led to an increase in disposable income for many individuals. This, in turn, has fueled demand for rental properties as people are able to afford the monthly rental payments. Additionally, low interest rates in the region make it more attractive for investors to finance rental properties, further driving the growth of the market. In conclusion, the Residential Real Estate Leases market in Southern Africa is experiencing significant growth and development. Customer preferences for flexibility and affordability, along with trends in urbanization, drive the demand for rental properties. Local special circumstances, such as the prevalence of informal settlements, also contribute to the growth of the market. Underlying macroeconomic factors, including economic stability and low interest rates, further support this positive trajectory.
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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