Key regions: France, United Kingdom, Australia, Japan, China
The Residential Real Estate Leases market in Russia is experiencing significant growth and development.
Customer preferences: Customers in Russia are increasingly opting for residential real estate leases instead of purchasing properties. This shift in preference can be attributed to various factors such as flexibility, affordability, and convenience. Leasing allows individuals to have access to high-quality properties without the financial burden of purchasing a home. Furthermore, leasing provides flexibility for individuals who may need to relocate frequently for work or personal reasons.
Trends in the market: One of the key trends in the residential real estate leases market in Russia is the increasing demand for rental properties in major cities such as Moscow and St. Petersburg. These cities attract a large number of professionals and expatriates who prefer to lease properties rather than buy. The demand for rental properties in these cities is driven by factors such as job opportunities, cultural attractions, and a vibrant lifestyle. Another trend in the market is the rise of co-living spaces. Co-living spaces are shared living arrangements where individuals rent individual rooms within a larger property and share common spaces such as kitchens and living rooms. This trend is particularly popular among young professionals and students who are looking for affordable accommodation options and a sense of community.
Local special circumstances: The residential real estate leases market in Russia is also influenced by local special circumstances. One such circumstance is the high level of urbanization in the country. As more people move to cities for work and education, the demand for rental properties increases. Additionally, the lack of affordable housing options in major cities has also contributed to the growth of the leasing market.
Underlying macroeconomic factors: Several macroeconomic factors contribute to the development of the residential real estate leases market in Russia. The country's stable economic growth has led to an increase in disposable income, allowing more individuals to afford leasing properties. Additionally, the growth of the middle class in Russia has also contributed to the demand for rental properties. In conclusion, the residential real estate leases market in Russia is experiencing significant growth and development. Customer preferences for flexibility, affordability, and convenience are driving the demand for leasing properties. The trend of co-living spaces and the high level of urbanization in major cities further contribute to the growth of the market. Additionally, underlying macroeconomic factors such as stable economic growth and the growth of the middle class also play a role in the development of the 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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