Key regions: Europe, Asia, Australia, United States, Germany
The Residential Real Estate market in Worldwide is experiencing significant growth and development. Customer preferences have shifted towards larger homes with more outdoor space and flexible workspaces. This trend is driven by the increasing importance of remote work and the desire for more living space. Additionally, low interest rates and government incentives have fueled demand for residential properties.
Customer preferences: Customers are increasingly prioritizing larger homes with more outdoor space. With remote work becoming more prevalent, individuals are seeking homes that can accommodate a home office or flexible workspace. Additionally, the desire for outdoor amenities such as gardens, balconies, and terraces has increased, as people look for ways to enjoy outdoor activities without leaving their homes.
Trends in the market: The Residential Real Estate market in Worldwide is experiencing a surge in demand for properties in suburban and rural areas. As people have more flexibility to work remotely, many are opting to move away from crowded cities in search of larger homes and a better quality of life. This trend is also driven by the desire for more space and privacy, as well as the lower cost of living in suburban and rural areas.
Local special circumstances: In certain countries, there are special circumstances that are influencing the Residential Real Estate market. For example, in some European countries, there is a growing trend of individuals moving from urban areas to rural regions in search of a slower pace of life and more affordable housing. In contrast, in some Asian countries, such as China, there is a high demand for luxury properties in major cities like Shanghai and Beijing.
Underlying macroeconomic factors: Low interest rates and government incentives are playing a significant role in driving the growth of the Residential Real Estate market in Worldwide. Low interest rates make borrowing more affordable, encouraging individuals to invest in real estate. Additionally, governments around the world have implemented various incentives, such as tax breaks and subsidies, to stimulate the housing market. These factors have increased affordability and incentivized individuals to enter the market. In conclusion, the Residential Real Estate market in Worldwide is experiencing a surge in demand for larger homes with more outdoor space and flexible workspaces. This trend is driven by the increasing importance of remote work and the desire for more living space. Low interest rates and government incentives have also played a significant role in fueling demand for residential properties.
Data coverage:
Figures are based on total and average value of residential real estate, residential estate transactions and leases.Modeling approach:
Market size is determined by a combined top-down and 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 are considered at a country-specific level.
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