Key regions: Europe, Brazil, France, Asia, United States
The Residential Real Estate market in Romania has been experiencing significant growth and development in recent years.
Customer preferences: Romanian customers have shown a strong preference for residential properties that offer both quality and affordability. They are increasingly looking for modern, well-designed homes that are equipped with the latest amenities and technologies. Additionally, there is a growing demand for properties that are located in convenient and desirable neighborhoods, with access to good schools, healthcare facilities, and recreational areas.
Trends in the market: One of the key trends in the Romanian Residential Real Estate market is the increasing popularity of apartment living. Many Romanians are opting for apartments due to their affordability and the convenience they offer. This trend is particularly evident in urban areas where space is limited and apartments provide a more practical solution for housing needs. Another trend in the market is the rise of sustainable and energy-efficient homes. With growing awareness about environmental issues, Romanian customers are increasingly seeking properties that are built using eco-friendly materials and incorporate energy-saving features. Developers are responding to this trend by incorporating green building practices and technologies into their projects.
Local special circumstances: Romania has a large population of young professionals and families who are entering the housing market for the first time. This demographic group has specific preferences and needs when it comes to residential properties. They are often looking for affordable options that offer a good balance between quality and price. Developers and real estate agents are catering to this segment by offering a range of housing options that meet their requirements.
Underlying macroeconomic factors: The Romanian economy has been growing steadily in recent years, which has had a positive impact on the Residential Real Estate market. Low interest rates and favorable mortgage conditions have made it easier for potential buyers to enter the market. Additionally, the government has implemented policies to support the development of the real estate sector, such as offering tax incentives for property investments. In conclusion, the Residential Real Estate market in Romania is experiencing growth and development driven by customer preferences for quality and affordability, the increasing popularity of apartment living, the demand for sustainable homes, and the favorable macroeconomic factors. These trends and circumstances are shaping the market and creating opportunities for both developers and buyers.
Data coverage:
Figures are based on total and average value of residential real estate, residential estate transactions and leases.Modeling approach:
Market size is determined by a combined top-down and 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 are considered at a country-specific level.
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