Key regions: France, United Kingdom, Australia, Japan, China
The Residential Real Estate Leases market in Malaysia has been experiencing significant growth in recent years.
Customer preferences: One of the main reasons for this growth is the changing preferences of customers. More and more people are opting to lease residential properties instead of buying them. This shift in preference can be attributed to various factors such as increasing property prices, high interest rates on home loans, and the flexibility that leasing offers. Leasing allows individuals to enjoy the benefits of living in a residential property without the long-term commitment and financial burden of owning a home.
Trends in the market: The trend of leasing residential properties is particularly evident in urban areas, where the demand for housing is high. Many young professionals and urban dwellers are choosing to lease apartments and condominiums in prime locations, as it provides them with convenience and access to amenities. Additionally, the rise of co-living spaces and serviced apartments has also contributed to the growth of the leasing market. These options cater to the needs of individuals who are looking for affordable and flexible living arrangements.
Local special circumstances: In Malaysia, there are certain local circumstances that have contributed to the growth of the residential real estate leases market. One such circumstance is the government's efforts to promote affordable housing. The government has implemented various initiatives and policies to address the housing needs of the population, including the development of affordable housing projects and the introduction of rent-to-own schemes. These initiatives have made leasing a more attractive option for individuals who are unable to afford the high cost of purchasing a home.
Underlying macroeconomic factors: The growth of the residential real estate leases market in Malaysia is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and urbanization. This has created a demand for housing, particularly in urban areas. Additionally, the low interest rate environment has made financing more affordable for property developers, leading to an increase in the supply of residential properties available for lease. In conclusion, the Residential Real Estate Leases market in Malaysia is experiencing significant growth due to changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The shift towards leasing residential properties is driven by factors such as increasing property prices and the flexibility it offers. The government's efforts to promote affordable housing and the steady economic growth of the country have also contributed to the growth of the leasing market.
Data coverage:
Figures are based on total and average revenue of residential apartment leases.Modeling approach:
Market size is determined by a 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 considered at a country-specific level.
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