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Key regions: United States, China, Japan, Germany, United Kingdom
The Real Estate market in Russia has been experiencing significant growth and development in recent years. Customer preferences have shifted towards investing in property as a means of securing their financial future. This has led to an increase in demand for real estate and a rise in property prices across the country.
Customer preferences: Customers in Russia have shown a strong preference for investing in real estate. This is due to a variety of factors, including the perception that property is a safe and reliable investment option. Many Russians view real estate as a tangible asset that can provide long-term financial security. Additionally, the lack of trust in traditional financial institutions has further fueled the desire to invest in property.
Trends in the market: One of the key trends in the Russian real estate market is the increasing demand for residential properties. This is driven by a growing population and an expanding middle class. As more people seek to own their own homes, the demand for residential properties has surged. This trend is expected to continue in the coming years, driving further growth in the market. Another trend in the market is the rise of the commercial real estate sector. With the growth of the Russian economy, there has been an increase in demand for office spaces, retail outlets, and industrial facilities. This has led to a boom in the commercial real estate market, with developers and investors capitalizing on the opportunities presented by this growing sector.
Local special circumstances: One of the unique aspects of the Russian real estate market is the presence of a large number of state-owned properties. These properties are often sold at discounted prices, making them attractive investment options for both domestic and international buyers. Additionally, the government has implemented various policies to encourage investment in the real estate sector, such as tax incentives and streamlined bureaucratic processes.
Underlying macroeconomic factors: The growth and development of the Russian real estate market can be attributed to several macroeconomic factors. Firstly, the stable economic growth in the country has increased the purchasing power of consumers, allowing them to invest in property. Additionally, low interest rates have made it easier for individuals and businesses to access financing for real estate investments. Finally, the government's efforts to improve infrastructure and attract foreign investment have also contributed to the growth of the real estate market. In conclusion, the Real Estate market in Russia is experiencing significant growth and development due to changing customer preferences, increasing demand for residential and commercial properties, local special circumstances such as state-owned properties, and underlying macroeconomic factors such as stable economic growth and low interest rates. These factors are expected to continue driving the growth of the market in the coming years.
Data coverage:
Figures are based on value of residential and commercial real estate, average real estate value, residential estate transactions and leases.Modeling approach / Market size:
Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use data from international organizations and industry associations. Next we use relevant key market indicators and data from country-specific associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, 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:
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.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)