Key regions: Europe, Asia, Australia, United States, Germany
Residential real estate market in Eastern Europe has been witnessing significant growth and development in recent years. With changing customer preferences, emerging trends, and local special circumstances, the market has experienced a surge in demand for housing properties. This can be attributed to various underlying macroeconomic factors that have positively impacted the real estate sector in the region. Customer preferences in Eastern Europe have shifted towards owning residential properties rather than renting. This is driven by the desire for long-term stability and investment opportunities. Additionally, customers are increasingly seeking properties with modern amenities and convenient locations. The demand for larger living spaces, such as houses or apartments with multiple bedrooms, has also increased. These preferences reflect the growing aspirations and improving living standards of the population. Trends in the market indicate a rise in urbanization and the development of metropolitan areas. Eastern European cities are experiencing rapid growth, attracting both domestic and international investments. This has led to the construction of new residential projects, including high-rise buildings and gated communities. The availability of mortgage financing options has further facilitated the purchase of properties, contributing to the growth of the market. Local special circumstances, such as government initiatives and infrastructure development, have played a crucial role in shaping the residential real estate market. Governments in Eastern European countries have implemented favorable policies, including tax incentives and subsidies, to promote homeownership. This has encouraged individuals to invest in residential properties, leading to an increase in demand. Furthermore, ongoing infrastructure projects, such as the development of transportation networks and commercial hubs, have enhanced the attractiveness of certain areas, driving property prices upward. Underlying macroeconomic factors have also contributed to the development of the residential real estate market in Eastern Europe. Economic growth, rising disposable incomes, and low interest rates have made property ownership more affordable and accessible. Foreign direct investments have also played a significant role in boosting the real estate sector, attracting international buyers and developers. Additionally, demographic factors, such as population growth and urban migration, have increased the demand for housing, further stimulating the market. In conclusion, the residential real estate market in Eastern Europe is experiencing growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards property ownership, urbanization, government initiatives, and favorable economic conditions have all contributed to the positive trajectory of the market. As the region continues to evolve, the residential real estate sector is expected to thrive, offering opportunities for both investors and homebuyers.
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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