Key regions: Europe, Asia, Australia, United States, Germany
The Residential Real Estate market in Asia is experiencing significant growth and development in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this positive trend. Customer preferences in the Asian Residential Real Estate market are shifting towards modern and luxurious properties. Buyers are increasingly seeking properties with high-end amenities and advanced technology features. This preference for luxury is driven by the increasing affluence and aspirations of the growing middle class in many Asian countries. Additionally, there is a growing demand for properties that offer a sense of community and a range of recreational facilities, such as swimming pools, gyms, and parks. Trends in the market show a strong focus on urbanization and the development of smart cities. Asian countries are investing heavily in infrastructure and urban development projects to accommodate the growing population and meet the demands of a modern lifestyle. This trend is driving the construction of high-rise residential buildings and mixed-use developments in major cities across the region. The market is also witnessing a rise in the popularity of sustainable and eco-friendly properties, as environmental consciousness becomes increasingly important to buyers. Local special circumstances play a significant role in shaping the Residential Real Estate market in different Asian countries. For example, in China, the government's policies and regulations have a direct impact on the market. The implementation of restrictions on property purchases and the promotion of affordable housing have influenced the demand and supply dynamics in the Chinese market. In India, the market is driven by factors such as rapid urbanization, a young population, and government initiatives to promote affordable housing. Underlying macroeconomic factors also contribute to the development of the Residential Real Estate market in Asia. Economic growth, low interest rates, and favorable mortgage conditions are creating a conducive environment for property investment. In addition, foreign investment and an influx of expatriates are driving the demand for high-end residential properties in major Asian cities. The stability of the political and legal systems in many Asian countries also attracts foreign investors and contributes to the growth of the market. In conclusion, the Residential Real Estate market in Asia is experiencing growth and development due to evolving customer preferences, urbanization trends, local special circumstances, and underlying macroeconomic factors. Luxury, modern amenities, and sustainability are key factors driving customer preferences. The focus on urbanization and the development of smart cities is a prominent trend in the market. Local special circumstances such as government policies and regulations also shape the market dynamics. Underlying macroeconomic factors such as economic growth and foreign investment contribute to the positive development of the market.
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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