The Residential Real Estate Transactions market in Russia has been experiencing significant growth in recent years, driven by several key factors. Customer preferences have shifted towards investing in real estate as a safe and stable asset, while local special circumstances and underlying macroeconomic factors have also played a role in shaping the market. Customer preferences in the Russian Residential Real Estate Transactions market have been influenced by a desire for long-term investment stability. Real estate is seen as a tangible asset that provides a sense of security, especially in uncertain economic times. Furthermore, many Russians view property ownership as a status symbol and a way to build wealth over time. This preference for real estate investment has contributed to the growth of the market. Trends in the Russian Residential Real Estate Transactions market include an increase in demand for residential properties in major cities such as Moscow and St. Petersburg. These cities offer a wide range of employment opportunities and cultural amenities, attracting both local and international buyers. Additionally, there has been a rise in demand for luxury properties, driven by the growing number of high-net-worth individuals in Russia. Local special circumstances have also played a role in shaping the Residential Real Estate Transactions market in Russia. The country has a large population, with a significant portion living in urban areas. This has led to a high demand for housing, particularly in major cities where job opportunities are concentrated. Additionally, the Russian government has implemented policies to encourage home ownership, such as providing subsidies and tax incentives for first-time buyers. Underlying macroeconomic factors have also contributed to the growth of the Residential Real Estate Transactions market in Russia. The country has experienced a period of economic stability and growth in recent years, which has increased consumer confidence and purchasing power. Additionally, low interest rates have made it more affordable for individuals to take out mortgages and invest in real estate. In conclusion, the Residential Real Estate Transactions market in Russia is experiencing growth due to customer preferences for stable investments, local special circumstances such as high demand for housing in urban areas, and underlying macroeconomic factors including economic stability and low interest rates. These factors have contributed to an increase in demand for residential properties, particularly in major cities, and a rise in luxury property sales.
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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