Key regions: Japan, China, Australia, Germany, United States
The Residential Real Estate Leases market in Sudan has been experiencing significant growth in recent years, driven by a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Sudan have shifted towards renting residential properties due to various reasons. One of the main reasons is the flexibility that renting offers. Many people in Sudan prefer to rent rather than buy a property because it allows them to easily move to different locations based on their changing needs and circumstances. Renting also provides a more affordable option for those who may not have the financial means to purchase a property outright. Additionally, renting allows individuals to avoid the responsibilities and costs associated with property maintenance and repairs. Trends in the market have also contributed to the growth of the Residential Real Estate Leases market in Sudan. One notable trend is the increasing demand for rental properties in urban areas. As urbanization continues to accelerate in Sudan, more people are moving to cities in search of better job opportunities and a higher standard of living. This has created a strong demand for rental properties, particularly in major cities like Khartoum. Another trend is the emergence of real estate developers and investors who are investing in the construction of rental properties to meet the growing demand. Local special circumstances in Sudan have also played a role in the development of the Residential Real Estate Leases market. The political stability and relative peace that the country has experienced in recent years have attracted foreign investors and increased confidence in the real estate sector. This has led to an influx of foreign capital, which has fueled the construction of new residential developments and increased the availability of rental properties. Underlying macroeconomic factors have also contributed to the growth of the Residential Real Estate Leases market in Sudan. The country's economic growth and rising income levels have increased the purchasing power of individuals, allowing them to afford rental properties. Additionally, favorable government policies and regulations have created a conducive environment for the real estate sector to thrive. In conclusion, the Residential Real Estate Leases market in Sudan is experiencing significant growth due to customer preferences for renting, market trends such as urbanization and investment in rental properties, local special circumstances including political stability and foreign investment, and underlying macroeconomic factors such as economic growth and favorable government policies. This growth is expected to continue in the coming years as the demand for rental properties remains strong.
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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