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Key regions: Germany, Europe, Asia, United States, United Kingdom
The Residential Real Estate Transactions market in Iran has been experiencing significant growth in recent years.
Customer preferences: One of the main factors driving this growth is the strong demand for residential properties in Iran. The country has a young and growing population, with a large proportion of young adults looking to buy their own homes. Additionally, there is a cultural preference for owning property rather than renting, which further fuels the demand for residential real estate transactions.
Trends in the market: The market has also been influenced by several trends. One of the key trends is the increasing urbanization in Iran. As more people move to cities in search of better job opportunities and a higher standard of living, the demand for residential properties in urban areas has surged. This has led to the development of new housing projects and the expansion of existing ones to cater to the growing demand. Another trend in the market is the rising popularity of apartment living. With limited land availability in urban areas, developers have focused on constructing apartment complexes to accommodate the growing population. This has led to a shift in customer preferences, with many people opting for apartments over traditional houses.
Local special circumstances: Iran has also experienced a significant increase in foreign investment in the real estate sector. The government has implemented policies to attract foreign investors, including relaxed regulations and tax incentives. This has led to an influx of foreign capital into the market, driving up property prices and increasing the number of residential real estate transactions.
Underlying macroeconomic factors: Several macroeconomic factors have contributed to the growth of the residential real estate transactions market in Iran. The country has experienced a period of relative stability in recent years, with low inflation and a steady GDP growth rate. This has boosted consumer confidence and encouraged people to invest in property. Furthermore, the government has implemented measures to support the real estate sector, such as providing subsidies for first-time homebuyers and offering low-interest loans. These initiatives have made it easier for individuals to enter the market and have contributed to the overall growth of the residential real estate transactions market. In conclusion, the Residential Real Estate Transactions market in Iran has been growing due to strong customer demand, urbanization, and foreign investment. The popularity of apartment living and government support for the real estate sector have also played a significant role in driving the market's growth. With favorable macroeconomic conditions and a young population, the market is expected to continue its upward trajectory in the coming years.
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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)