Key regions: France, United Kingdom, Australia, Japan, China
The Residential Real Estate Leases market in the United States has been experiencing steady growth in recent years.
Customer preferences: One of the key customer preferences in the Residential Real Estate Leases market in the United States is the desire for flexibility. Many individuals and families are opting for leasing rather than buying a property, as it allows them to have the flexibility to move to different locations or upgrade their living arrangements as their needs change. Additionally, leasing provides an opportunity for individuals to live in desirable neighborhoods or cities that may be unaffordable for them to purchase a property in.
Trends in the market: One of the prominent trends in the Residential Real Estate Leases market in the United States is the increasing demand for rental properties in urban areas. As more people are moving to cities for job opportunities and a vibrant lifestyle, the demand for rental properties in these areas has surged. This trend is driven by factors such as the convenience of living in close proximity to workplaces, amenities, and entertainment options. Another trend in the market is the growing popularity of co-living spaces. Co-living spaces offer individuals the opportunity to live in shared accommodations with like-minded people, often with the added convenience of fully furnished units and shared common areas. This trend is particularly popular among young professionals and students who value community and affordability.
Local special circumstances: One of the unique aspects of the Residential Real Estate Leases market in the United States is the significant regional variation in rental prices. Rental prices can vary greatly between cities and even neighborhoods within the same city. This is influenced by factors such as the local economy, job opportunities, and desirability of the area. For example, rental prices in major cities like New York and San Francisco tend to be much higher than in smaller cities or rural areas.
Underlying macroeconomic factors: Several underlying macroeconomic factors contribute to the development of the Residential Real Estate Leases market in the United States. One such factor is the overall strength of the economy. When the economy is performing well, individuals have more disposable income to spend on housing, which can drive up demand for rental properties. Conversely, during economic downturns, individuals may be more inclined to lease rather than buy a property due to financial uncertainties. Another macroeconomic factor is the availability of mortgage financing. Stringent lending standards or high interest rates can make it more difficult for individuals to obtain a mortgage, leading them to opt for leasing instead. Additionally, changes in interest rates can impact the cost of borrowing for property purchases, which can influence the decision to lease or buy. In conclusion, the Residential Real Estate Leases market in the United States is developing in response to customer preferences for flexibility and the increasing demand for rental properties in urban areas. The market is also influenced by local special circumstances, such as regional variation in rental prices. Underlying macroeconomic factors, such as the strength of the economy and availability of mortgage financing, further shape 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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