The Residential Real Estate Transactions market in Asia has been experiencing significant growth in recent years.
Customer preferences: One of the main reasons for this growth is the increasing demand for residential properties in Asia. As the population continues to grow and urbanization accelerates, more people are looking to buy or rent homes in major cities across the region. Additionally, the rise of the middle class in many Asian countries has also contributed to the increased demand for residential real estate. These individuals are seeking to invest in properties as a means of securing their financial future and improving their quality of life.
Trends in the market: One notable trend in the Asian residential real estate market is the growing interest in sustainable and eco-friendly properties. As awareness of environmental issues and the importance of sustainability increases, more buyers are seeking properties that are energy-efficient, use renewable materials, and have a minimal impact on the environment. Developers are responding to this demand by incorporating green building practices and features into their projects. Another trend in the market is the rise of mixed-use developments. These developments combine residential, commercial, and recreational spaces in one location, creating vibrant and self-contained communities. This trend is driven by the desire for convenience and a holistic lifestyle, where residents can live, work, and play in close proximity. Mixed-use developments often include amenities such as shopping centers, restaurants, and recreational facilities, making them highly attractive to buyers.
Local special circumstances: In some Asian countries, government policies and regulations have also played a role in the growth of the residential real estate market. For example, in certain countries, foreign investors are allowed to purchase properties, which has attracted international buyers and increased demand. Additionally, some governments have implemented measures to support affordable housing initiatives, making it easier for low and middle-income individuals to enter the property market.
Underlying macroeconomic factors: The strong economic growth in many Asian countries has also contributed to the development of the residential real estate market. As economies expand and incomes rise, more people have the financial means to invest in real estate. Furthermore, low interest rates and favorable mortgage conditions have made it more affordable for individuals to purchase properties, stimulating demand. In conclusion, the Residential Real Estate Transactions market in Asia is experiencing significant growth due to increasing customer preferences for residential properties, including sustainable and mixed-use developments. Local special circumstances, such as government policies and regulations, also play a role in shaping the market. Additionally, underlying macroeconomic factors, such as strong economic growth and favorable mortgage conditions, contribute to the development of the market.
Data coverage:
Figures are based on total and average revenue of residential real estate transactions (sales).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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