Key regions: Germany, Europe, Asia, United States, United Kingdom
The Residential Real Estate Transactions market in Iraq is experiencing significant growth and development in recent years.
Customer preferences: In Iraq, there is a strong demand for residential properties, driven by a growing population and increasing urbanization. Many Iraqis aspire to own their own homes, which has led to a high demand for residential real estate transactions. Additionally, there is a preference for larger homes with multiple bedrooms and modern amenities.
Trends in the market: One of the key trends in the residential real estate transactions market in Iraq is the increasing number of new housing developments. Developers are constructing residential projects to meet the growing demand for housing, particularly in urban areas. These developments often offer a range of housing options, from apartments to villas, catering to different customer preferences. Another trend in the market is the rise of online platforms for real estate transactions. These platforms provide a convenient way for buyers and sellers to connect and conduct transactions. They also offer a wide range of property listings, allowing buyers to easily browse and compare different options. This trend has made the process of buying and selling residential properties more efficient and accessible.
Local special circumstances: Iraq has faced significant challenges in recent years, including political instability and security issues. These factors have impacted the residential real estate market, leading to fluctuations in demand and prices. However, despite these challenges, the market has shown resilience and continued growth.
Underlying macroeconomic factors: Several macroeconomic factors contribute to the development of the residential real estate transactions market in Iraq. Economic growth and stability play a crucial role in driving demand for housing. As the Iraqi economy continues to recover and stabilize, more people have the financial means to invest in residential properties. Government policies and regulations also influence the market. In recent years, the Iraqi government has implemented measures to support the real estate sector, such as providing incentives for developers and easing restrictions on property ownership. These policies have encouraged investment in residential properties and contributed to the growth of the market. Overall, the residential real estate transactions market in Iraq is experiencing positive growth and development. Customer preferences for larger homes and modern amenities are driving demand, while new housing developments and online platforms are facilitating transactions. Despite challenges and fluctuations, the market is supported by underlying macroeconomic factors such as economic growth and government policies.
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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