Key regions: Europe, Asia, Australia, United States, Germany
The Residential Real Estate market in Japan is experiencing significant growth and development. Customer preferences in the Japanese real estate market have been shifting in recent years. There is a growing demand for smaller, more affordable housing options, particularly in urban areas. This is driven by a combination of factors, including changing demographics and a desire for convenience and accessibility. Additionally, there is an increasing interest in sustainable and energy-efficient homes, as environmental consciousness grows among consumers. One of the key trends in the Japanese residential real estate market is the rise of co-living and shared housing. With the high cost of living and limited space in urban areas, many young professionals and students are opting for shared accommodation to reduce expenses and enhance social connections. Co-living spaces offer a range of amenities and services, catering to the needs of this target market. Another trend in the market is the development of smart homes. With advancements in technology, homeowners are increasingly looking for properties that are equipped with smart devices and systems. These homes offer convenience, security, and energy efficiency, attracting buyers who value modern living. Local special circumstances in Japan also contribute to the development of the residential real estate market. The country has a rapidly aging population, which has led to a shortage of suitable housing for the elderly. As a result, there is a growing demand for senior-friendly homes and retirement communities. Developers are capitalizing on this trend by designing properties that cater to the unique needs and preferences of older adults. Underlying macroeconomic factors also play a role in the growth of the Japanese residential real estate market. The country's low interest rates have made it more affordable for individuals to borrow money and invest in property. Additionally, the government has implemented various measures to stimulate the real estate market, such as tax incentives and subsidies for homebuyers. These factors have contributed to an increase in housing transactions and a boost in property prices. In conclusion, the Residential Real Estate market in Japan is experiencing significant growth and development, driven by changing customer preferences, local special circumstances, and underlying macroeconomic factors. The demand for smaller, more affordable housing options, co-living spaces, and smart homes is on the rise. The aging population and low interest rates further contribute to the market's expansion.
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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Mon - Fri, 9am - 6pm (EST)
