Key regions: Japan, China, Australia, Germany, United States
The Residential Real Estate Leases market in Vietnam is experiencing significant growth and development in recent years.
Customer preferences: Customers in Vietnam are increasingly opting for residential real estate leases due to several factors. Firstly, leasing offers more flexibility compared to purchasing a property, allowing individuals to move easily and adapt to changing circumstances. Additionally, leasing is often more affordable, as it requires a lower upfront cost and avoids the need for a large mortgage. Moreover, leasing provides access to a wider range of properties in desirable locations, allowing individuals to live in areas they may not be able to afford if they were to purchase a property.
Trends in the market: One key trend in the Residential Real Estate Leases market in Vietnam is the rise of co-living spaces. These are shared living arrangements where individuals rent a private room within a larger apartment or house, while sharing common areas with other tenants. Co-living spaces are becoming increasingly popular among young professionals and expatriates, as they offer a sense of community and the opportunity to meet new people. This trend is driven by the growing number of young professionals and expatriates in Vietnam, as well as the desire for affordable and flexible housing options. Another trend in the market is the increasing demand for serviced apartments. Serviced apartments are fully furnished and equipped with amenities such as housekeeping, laundry services, and 24-hour security. They are particularly popular among expatriates and business travelers who require temporary accommodation. The demand for serviced apartments is driven by the growth of the tourism industry in Vietnam, as well as the increasing number of multinational companies establishing a presence in the country.
Local special circumstances: Vietnam has a young and rapidly urbanizing population, which is contributing to the growth of the Residential Real Estate Leases market. As more people move to cities for work and education opportunities, the demand for rental housing is increasing. Additionally, the Vietnamese government has implemented policies to promote the development of the real estate sector, including the relaxation of foreign ownership restrictions and the introduction of favorable tax incentives. These factors are attracting foreign investors and stimulating the growth of the market.
Underlying macroeconomic factors: The strong economic growth in Vietnam is a key driver of the Residential Real Estate Leases market. The country has experienced robust economic expansion in recent years, driven by factors such as foreign direct investment, export growth, and a rising middle class. This has led to an increase in disposable incomes and a higher demand for housing. Additionally, low interest rates and favorable lending conditions have made it easier for individuals to access financing for real estate leases. In conclusion, the Residential Real Estate Leases market in Vietnam is developing rapidly due to customer preferences for flexibility and affordability, as well as the rise of co-living spaces and serviced apartments. The young and urbanizing population, government policies, and strong macroeconomic factors are also contributing to the growth 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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Mon - Fri, 9am - 6pm (EST)
