Navigating the Growth Landscape of the Affordable Housing Market: Home for All

Allied Market Research has recently released a groundbreaking report titled "Affordable Housing Market," revealing that the market, valued at $52.2 billion in 2021, is poised to soar to an estimated $84.7 billion by 2031, with a notable CAGR of 4.9% from 2022 to 2031.

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Affordable housing, defined as housing meeting adequate standards for lower or middle-income households without compromising their ability to meet basic necessities, is gaining significant traction. Fueled by a growing middle class and an expanding workforce, the market is experiencing a surge in migrant movements, especially in Tier 1 cities, driven by employment and educational opportunities. This influx is expected to drive market expansion in the foreseeable future.

Facilitating this growth is the ease of mortgage financing, coupled with the Indian government's initiative to provide housing for all by FY2023. The government's extension of the option to deduct additional interest costs on affordable mortgages until March 2023 is expected to create lucrative opportunities for market growth.

The affordable housing market is anticipated to witness significant and rapid growth, driven by the demand spurred by rapid urbanization in emerging markets like Brazil, China, India, and Eastern European countries. However, the saturation point in major cities in developed countries, where economic growth and urban areas have either stalled or grown slowly, poses challenges. For instance, the U.S. residential real estate market has seen a decline in affordable home sales due to rising prices and reduced investments by foreign investors.

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The outbreak of COVID-19 disrupted global logistic and manufacturing activities, leading to supply chain interruptions and hindering the growth of the affordable housing market. However, as governments worldwide relax norms to resume business activities, a recovery is expected.

State programs for affordable housing expansion and collaboration among key market players present attractive opportunities. Initiatives like the SHAPE-EU launched by the European Affordable Housing Consortium for Sustainable Housing and Social Impact in March 2022 indicate a promising future for the affordable housing market in the region.

The global affordable housing industry is segmented based on providers (government and public-private partnership), size of unit (up to 400 square feet, 400-800 square feet, and above 800 square feet), and location (urban and rural).

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Key Findings of the Study:

The public-private partnership segment was the largest revenue generator in 2021.

The above 800 square feet segment generated the highest revenue in 2021.

The urban segment dominated the market in 2021.

Asia-Pacific dominated the market in 2021, with LAMEA anticipated to dominate the global market throughout the study period.

The report provides an extensive analysis of global affordable housing market trends, dynamics, and opportunities. The forecast analysis from 2022 to 2031 is included in the report

https://www.alliedmarketresearch.com/affordable-housing-market-A31842

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