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Key regions: United States, China, Japan, Germany, United Kingdom
The Real Estate market in Southern Europe is experiencing significant growth and development, driven by various factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Real Estate market in Southern Europe are shifting towards more sustainable and eco-friendly properties. With increasing awareness about climate change and the need to reduce carbon emissions, customers are seeking properties that are energy-efficient and incorporate green technologies. Additionally, there is a growing demand for properties with open spaces and access to nature, as people prioritize a healthier and more balanced lifestyle. These customer preferences are driving the development of sustainable and green real estate projects in Southern Europe. Trends in the market indicate a rise in urbanization and the transformation of cities in Southern Europe. As more people move to urban areas in search of better job opportunities and amenities, the demand for residential and commercial properties is increasing. This trend is particularly prominent in major cities such as Barcelona, Madrid, Rome, and Athens. Real estate developers are focusing on creating mixed-use developments that combine residential, commercial, and recreational spaces to meet the diverse needs of urban dwellers. Additionally, there is a growing trend of adaptive reuse, where old buildings are repurposed into modern and functional spaces, adding to the charm and character of the cities. Local special circumstances play a significant role in the development of the Real Estate market in Southern Europe. For instance, the Mediterranean climate and beautiful coastal landscapes attract a large number of tourists, leading to a high demand for vacation homes and rental properties. Countries like Spain, Italy, and Greece have become popular destinations for international investors looking to invest in second homes or rental properties. This has led to the development of luxury real estate projects and the growth of the vacation rental market in Southern Europe. Underlying macroeconomic factors also contribute to the growth of the Real Estate market in Southern Europe. Low interest rates and favorable financing conditions make it easier for individuals and businesses to invest in real estate. Additionally, government incentives and tax benefits for real estate investments attract both domestic and international investors. The stability and growth of the overall economy in Southern Europe also play a role in driving the demand for real estate. In conclusion, the Real Estate market in Southern Europe is developing in response to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The shift towards sustainable and eco-friendly properties, urbanization, and the transformation of cities, the demand for vacation homes and rental properties, and favorable financing conditions are all contributing to the growth and development of the market.
Data coverage:
Figures are based on value of residential and commercial real estate, average real estate value, residential estate transactions and leases.Modeling approach / Market size:
Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use data from international organizations and industry associations. Next we use relevant key market indicators and data from country-specific associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, 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:
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.Lu - vi, 9:30 - 17:00 h (CET)
Lu - vi, 9:00 - 18:00 h (EST)
Lu - vi, 9:00 - 17:00 h (SGT)
Lu - vi, 10:00 - 18:00 h (JST)
Lu - vi, 9:30 - 17:00 h (GMT)
Lu - vi, 9:00am-6:00pm (EST)