Key regions: Japan, China, Australia, Germany, United States
The Residential Real Estate Leases market in Tunisia has been experiencing significant growth in recent years.
Customer preferences: One of the main reasons for this growth is the changing customer preferences in Tunisia. More and more people are opting to rent properties rather than buying them. This shift in preference can be attributed to various factors such as increasing urbanization, changing lifestyles, and the desire for flexibility. Renting a property allows individuals to have more freedom and mobility, especially for those who frequently change jobs or move to different cities. Additionally, renting provides a more affordable option for many Tunisians who may not have the financial means to purchase a property.
Trends in the market: The Residential Real Estate Leases market in Tunisia is also being driven by several market trends. Firstly, there has been a rise in demand for rental properties in urban areas, particularly in major cities like Tunis, Sousse, and Sfax. This can be attributed to the growth of job opportunities and the concentration of economic activities in these urban centers. As a result, property owners and developers are focusing on building residential complexes and apartment buildings to cater to this demand. Another trend in the market is the emergence of co-living spaces and serviced apartments. These types of accommodations are becoming increasingly popular among young professionals and students who are looking for affordable and convenient living options. Co-living spaces offer shared amenities and a sense of community, while serviced apartments provide the convenience of hotel-like services.
Local special circumstances: There are also some local special circumstances that are contributing to the growth of the Residential Real Estate Leases market in Tunisia. One of these circumstances is the high rate of urbanization in the country. As more people move to urban areas in search of better job opportunities and improved living standards, the demand for rental properties continues to increase. Additionally, the government has implemented policies to encourage investment in the real estate sector, which has attracted both local and foreign investors.
Underlying macroeconomic factors: The growth of the Residential Real Estate Leases market in Tunisia can also be attributed to underlying macroeconomic factors. The country has experienced stable economic growth in recent years, which has led to an increase in disposable income and improved living standards. This has made renting a property more affordable for many Tunisians. Furthermore, low interest rates and favorable financing options have made it easier for individuals to invest in rental properties. In conclusion, the Residential Real Estate Leases market in Tunisia is experiencing significant growth due to changing customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The demand for rental properties is expected to continue increasing in the coming years, creating opportunities for property owners, developers, and investors in 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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