Key regions: Germany, Europe, Asia, United States, United Kingdom
The Residential Real Estate Transactions market in CIS is experiencing significant growth due to various factors.
Customer preferences: Customers in the CIS region have shown a strong preference for investing in residential real estate. This can be attributed to several factors, including the desire for stable and secure investments, the potential for rental income, and the cultural importance placed on property ownership. Additionally, many customers in the CIS region view residential real estate as a tangible asset that can be passed down through generations, further driving demand in the market.
Trends in the market: One of the key trends in the CIS residential real estate market is the increasing demand for luxury properties. High-net-worth individuals in the region are seeking exclusive and high-end properties, often located in prime locations. This trend is driven by the growing number of wealthy individuals in the region and their desire for prestigious and luxurious living spaces. As a result, developers are focusing on creating upscale residential projects to cater to this demand. Another trend in the market is the rise of mixed-use developments. These projects combine residential, commercial, and recreational spaces in a single complex, creating a vibrant and self-contained community. This trend is driven by the desire for convenience and accessibility, as residents can live, work, and play within the same development. Mixed-use developments also offer a range of amenities and services, such as shopping centers, restaurants, and recreational facilities, further enhancing their appeal to customers.
Local special circumstances: The CIS region is characterized by its diverse geography and cultural heritage. This diversity is reflected in the residential real estate market, with each country in the region having its own unique set of circumstances. For example, countries such as Russia and Kazakhstan have vast territories, resulting in a wide range of property types and prices. On the other hand, countries like Armenia and Moldova have smaller populations and limited land availability, leading to a more competitive market with higher property prices. Furthermore, the political and economic stability of each country in the CIS region also plays a significant role in the residential real estate market. Countries with stable governments and strong economies, such as Russia and Kazakhstan, attract more foreign investment and have a higher demand for residential properties. Conversely, countries with political or economic uncertainties may experience slower growth in the market.
Underlying macroeconomic factors: Several macroeconomic factors are contributing to the growth of the residential real estate market in the CIS region. One of the key drivers is the rapid urbanization taking place in many countries. As more people move from rural areas to cities in search of better job opportunities and a higher standard of living, the demand for residential properties increases. This trend is further fueled by population growth and the need for affordable housing. Additionally, low interest rates and favorable mortgage conditions are making it easier for individuals to purchase residential properties. This has led to an increase in homeownership rates and a boost in the demand for real estate. Furthermore, government initiatives and incentives, such as tax breaks and subsidies, are also contributing to the growth of the market by making it more attractive for individuals to invest in residential properties. In conclusion, the Residential Real Estate Transactions market in CIS is experiencing significant growth due to customer preferences for stable investments, the rise of luxury properties and mixed-use developments, local special circumstances such as diverse geography and political stability, and underlying macroeconomic factors such as rapid urbanization and favorable mortgage conditions.
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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