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Real Estate - Southeast Asia

Southeast Asia
  • The Real Estate market market in Southeast Asia is expected to reach a staggering value of US$27.07tn by the year 2024.
  • Among the various segments, Residential Real Estate holds the largest market share, projected to reach a volume of US$23.31tn in 2024.
  • This segment is anticipated to grow at an annual rate of 2.61%, resulting in a market volume of US$30.79tn by the year 2029.
  • When compared globally, it is notable that United States is expected to generate the highest value in the Real Estate market market, reaching a staggering US$132.0tn in 2024.
  • In the bustling real estate market of Singapore, luxury condominiums are in high demand, attracting wealthy investors from around the world.

Definition:

The real estate market refers to the transaction of properties, including residential properties (such as houses and apartments) and commercial properties, such as office buildings and industrial properties. Apart from property sales, this market includes leases and the value of real estate.

Structure:

The real estate market comprises residential and commercial real estate. The residential real estate market covers real estate transactions and leases, and residential real estate leases are divided into apartment and house leases.

Additional information:

The market contains the following KPIs: real estate value aggregated for all countries and regions, average real estate value, real estate transaction revenue, number of real estate sold, number of leased and owned real estate, average room per resident, and dwelling type shares. The dwelling type shares comprise the share of the population that lives in houses and apartments. These shares are displayed for real estate owners and real estate renters as well.

In-Scope

  • Residential real estate (houses and apartments)
  • Commercial real estate (office buildings, retail spaces, warehouses, industrial properties)

Out-Of-Scope

  • Real estate agencies
  • Construction companies
  • Accommodation services, such as Airbnb
  • Commercial real estate leases and transactions
  • Publicly owned buildings used by the local government
  • Buildings used for public health care services
Commercial Real Estate: market data & analysis  - Cover

Market Insights report

Commercial Real Estate: market data & analysis

Study Details

    Value

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Jul 2024

    Source: Statista Market Insights

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Jul 2024

    Source: Statista Market Insights

    Notes: Please note that this chart only covers the residential real estate market. Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Jul 2024

    Source: Statista Market Insights

    Value Split

    Most recent update: Jul 2024

    Source: Statista Market Insights

    Volume

    Notes: Please note that this chart only covers the residential real estate market.

    Most recent update: Jul 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Real Estate market in Southeast Asia has been experiencing significant growth and development in recent years.

    Customer preferences:
    One of the key customer preferences driving the Real Estate market in Southeast Asia is the increasing demand for urban living. With rapid urbanization and a growing middle class, there is a strong desire for modern and convenient living spaces in cities across the region. Customers are looking for properties that offer easy access to amenities such as shopping malls, schools, and healthcare facilities. Additionally, there is a growing interest in sustainable and eco-friendly properties, as customers become more conscious of the environmental impact of their living choices.

    Trends in the market:
    One of the major trends in the Real Estate market in Southeast Asia is the rise of mixed-use developments. Developers are increasingly combining residential, commercial, and retail spaces in a single project to create vibrant and self-contained communities. This trend is driven by the desire for convenience and the need to optimize land use in densely populated urban areas. Mixed-use developments offer residents the opportunity to live, work, and play in the same location, reducing the need for long commutes and enhancing quality of life. Another trend in the market is the growing popularity of property investment. Southeast Asia has become an attractive destination for real estate investors, both domestic and international. Low interest rates, favorable government policies, and potential for high returns have made the region a hotspot for property investment. Investors are particularly interested in residential properties, as the rental market in Southeast Asia is strong and offers good rental yields.

    Local special circumstances:
    One of the local special circumstances impacting the Real Estate market in Southeast Asia is the growing influence of foreign buyers. Many countries in the region have relaxed regulations and introduced incentives to attract foreign investment in the real estate sector. This has led to an influx of foreign buyers, particularly from China, Singapore, and Hong Kong. These buyers are attracted by the relatively affordable property prices in Southeast Asia compared to their home countries, as well as the potential for capital appreciation.

    Underlying macroeconomic factors:
    Several underlying macroeconomic factors have contributed to the development of the Real Estate market in Southeast Asia. Economic growth in the region has been strong, driving demand for real estate across all segments. Additionally, low interest rates have made borrowing more affordable, encouraging individuals and businesses to invest in property. Government policies and initiatives aimed at promoting the real estate sector have also played a role in stimulating market activity. In conclusion, the Real Estate market in Southeast Asia is experiencing growth and development driven by customer preferences for urban living, trends such as mixed-use developments and property investment, local special circumstances like foreign buyers, and underlying macroeconomic factors including economic growth and favorable government policies.

    Transaction Value

    Notes: Please note that this chart only covers residential real estate sales. Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Jul 2024

    Source: Statista Market Insights

    Methodology

    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.

    Financial

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    Commercial Real Estate: market data & analysis  - BackgroundCommercial Real Estate: market data & analysis  - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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