Key regions: Germany, Europe, Asia, United States, United Kingdom
The Residential Real Estate Transactions market in BRICS is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this positive trend. Customer preferences play a crucial role in driving the growth of the Residential Real Estate Transactions market in BRICS. As the middle class continues to expand in these countries, there is a growing demand for affordable housing. Additionally, customers are increasingly looking for properties that offer modern amenities and are located in convenient locations. This has led to a surge in the construction of residential complexes and gated communities that cater to these preferences. Trends in the market also contribute to the development of the Residential Real Estate Transactions market in BRICS. One notable trend is the increasing popularity of online property portals and real estate apps. These platforms provide customers with easy access to property listings, virtual tours, and the ability to connect with real estate agents. This trend has streamlined the process of buying and selling properties, making it more efficient and convenient for both buyers and sellers. Another trend in the market is the rise of real estate investment as an attractive option for both domestic and international investors. The BRICS countries offer favorable investment opportunities due to their growing economies and potential for high returns. Investors are drawn to the residential real estate market as it provides a stable and tangible asset. This trend has led to an increase in foreign direct investment in the real estate sector, further contributing to its growth. Local special circumstances also play a role in the development of the Residential Real Estate Transactions market in BRICS. Each country has its own unique set of circumstances that influence the market. For example, in Brazil, the government has implemented policies to stimulate the housing market, such as the Minha Casa Minha Vida program, which provides subsidies for low-income families to purchase homes. In India, the government has introduced reforms to attract foreign investment in the real estate sector, such as the Real Estate (Regulation and Development) Act, which aims to promote transparency and protect the rights of buyers. Underlying macroeconomic factors also contribute to the growth of the Residential Real Estate Transactions market in BRICS. These countries have experienced rapid economic growth in recent years, leading to an increase in disposable income and urbanization. As more people move to cities in search of better opportunities, the demand for residential properties rises. Additionally, low interest rates and favorable mortgage lending conditions have made it easier for individuals to finance their home purchases. Overall, the Residential Real Estate Transactions market in BRICS is developing due to customer preferences for affordable housing with modern amenities, the rise of online platforms and real estate investment, local special circumstances such as government policies and reforms, and underlying macroeconomic factors such as economic growth and favorable lending conditions. This positive trend is expected to continue as these factors continue to drive the market forward.
Data coverage:
Figures are based on total and average revenue of residential real estate transactions (sales).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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