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Key regions: United States, China, Japan, Germany, United Kingdom
The Real Estate market in Western Asia has been experiencing significant growth and development in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all played a role in shaping this growth. Customer preferences in Western Asia have shifted towards investing in real estate as a means of diversifying their investment portfolios. Real estate has proven to be a stable and profitable investment option, especially in comparison to other volatile markets. Additionally, there is a growing demand for luxury properties and high-end developments in the region, as Western Asia is home to a high concentration of high-net-worth individuals. Trends in the market indicate a strong demand for residential properties, particularly in urban areas. Rapid urbanization and population growth have led to an increased need for housing, resulting in a surge in residential construction projects. Developers are focusing on creating modern and sustainable housing solutions to cater to the evolving needs of the population. Commercial real estate is also witnessing growth, driven by the expansion of industries and the influx of multinational companies into the region. Western Asia has become an attractive destination for businesses due to its strategic location, favorable business environment, and growing consumer base. This has led to an increased demand for office spaces and retail properties. Local special circumstances, such as government initiatives and policies, have played a significant role in shaping the real estate market in Western Asia. Many governments in the region have implemented reforms and regulations to attract foreign investment and stimulate economic growth. These measures include the relaxation of ownership restrictions for foreign investors and the introduction of tax incentives for real estate developers. Underlying macroeconomic factors have also contributed to the growth of the real estate market in Western Asia. The region has experienced strong economic growth, driven by sectors such as oil and gas, finance, and tourism. This has led to an increase in disposable income and a rise in the purchasing power of consumers, fueling demand for real estate. In conclusion, the Real Estate market in Western Asia is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The demand for residential and commercial properties, along with government initiatives and favorable economic conditions, have contributed to the flourishing real estate market in the region.
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)