Key regions: Japan, China, Australia, Germany, United States
The Residential Real Estate Leases market in United Arab Emirates has been experiencing steady growth in recent years, driven by customer preferences for high-quality housing and a growing population. Customer preferences in the Residential Real Estate Leases market in United Arab Emirates have shifted towards modern and luxurious properties. With a rising number of high-net-worth individuals and expatriate professionals, there is a growing demand for upscale residential units that offer premium amenities and services. Customers are also seeking properties in prime locations, such as Dubai and Abu Dhabi, which offer convenient access to business districts, shopping centers, and entertainment facilities. Additionally, there is an increasing preference for properties with sustainable and energy-efficient features, reflecting a growing awareness of environmental concerns. Trends in the Residential Real Estate Leases market in United Arab Emirates show a significant increase in rental prices. The demand for housing has outpaced the supply, leading to a shortage of available properties and driving up rental rates. This trend is particularly evident in popular cities like Dubai, where the influx of expatriate workers has created a high demand for rental properties. Landlords have taken advantage of this situation by increasing rental prices, leading to a rise in overall rental costs. Another trend in the market is the emergence of new real estate projects and developments. To meet the growing demand for housing, developers are constructing new residential complexes and communities across the country. These projects often feature a mix of residential units, including apartments, villas, and townhouses, catering to different customer preferences and budgets. The introduction of these new developments has increased the supply of rental properties, providing more options for customers in the market. Local special circumstances in the Residential Real Estate Leases market in United Arab Emirates include government regulations and initiatives aimed at promoting the real estate sector. The government has implemented various measures to attract foreign investment and stimulate economic growth, including the introduction of long-term visas for property owners and the establishment of free zones for real estate development. These initiatives have encouraged both local and international investors to invest in the real estate market, further driving its growth. Underlying macroeconomic factors, such as population growth and economic stability, have also contributed to the development of the Residential Real Estate Leases market in United Arab Emirates. The country has experienced a steady increase in population, driven by factors such as job opportunities, favorable business environment, and cultural attractions. This population growth has created a higher demand for housing, leading to the expansion of the real estate market. Additionally, the stable economy and favorable investment climate in United Arab Emirates have attracted both domestic and international investors, further fueling the growth of the residential real estate market. Overall, the Residential Real Estate Leases market in United Arab Emirates is developing due to customer preferences for high-quality housing, increasing rental prices, new real estate projects, government initiatives, population growth, and economic stability. These factors are expected to continue driving the growth of the market in the coming years.
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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