Press release
Residential Real Estate Global Market Size, Growth, Share with Countries Data, Industry Trends, Demand, Revenue and Forecast 2028 | CBRE Group Inc., Savills PLC, Prologis Inc., Zillow Group Inc., Compass Inc.
Residential Real Estate Global Market
Residential Real Estate Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $12168.78 billion In 2028 At A CAGR Of 4.7% :
The residential real estate market size has grown strongly in recent years. It will grow from $9608.7 billion in 2023 to $10111.21 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The growth in the historic period can be attributed to economic stability and growth, interest rates and mortgage accessibility, population growth and urbanization, government policies and incentives, demographic trends..
The residential real estate market size is expected to see steady growth in the next few years. It will grow to $12168.78 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The growth in the forecast period can be attributed to low-interest rates, shifts in remote work practices, environmental sustainability, changing household structures .. Major trends in the forecast period include affordable housing initiatives, impact of generational preferences, adaptive reuse projects, focus on health and safety features, global market connectivity..
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Residential Real Estate Market Major Segments
The residential real estate market covered in this report is segmented -
1) By Type: Apartments, Condominiums, Landed Houses, Villas
2) By Pricing: Affordable, Mid-Range, Luxury
3) By Size: Less Than 50 Square Meters, 51 To 80 Square Meters, 81 To 110 Square Meters, 111 To 200 Square Meters, More Than 200 Square Meters
4) By Business: Sales, Rental
5) By Mode: Online, Offline
Key Driver - Residential Real Estate Market Surges As Demand For Housing Drives Construction And Urban Renewal
Rising demand for residential properties is expected to drive the growth of the residential real estate market going forward. A residential structure consists of one or more rooms with the necessary facilities and utilities to meet a person's or family's living needs. The rising demand for residential properties leads to the demand for housing, encourages the construction of high-rise and mixed-use buildings, and opens up opportunities for urban renewal and redevelopment, contributing to the expansion of residential real estate. For instance, in March 2023, according to the United States Census Bureau, a US-based principal agency of the federal statistical system, the number of privately owned housing units approved by building permits in February was 1,524,000 on a seasonally adjusted yearly basis. This is 13.8% more than the January rate, which was corrected to 1,339,000. Therefore, rising demand for residential properties drives the residential real estate market.
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Prominent Trend - AI Technology Revolutionizes Residential Real Estate With Restb.AI's Mls Suite For Automated Listing Entry And Enhanced Data Value
The adoption of AI technology is a key trend gaining popularity in the residential real estate market. Companies operating in the residential real estate market are adopting new technologies to sustain their position in the market. For instance, in September 2022, Restb.ai, a Spain-based computer vision provider for real estate, launched MLS Suite for Multiple Listing Services for AI in real estate. The AI-powered tools were created to automate the listing entry process, provide safety for users of IDX and VOW websites, and enrich and boost the value of MLS data. The main solutions offered to MLS are AI tagging, compliance, MLS match, and property descriptions.
Residential Real Estate Market Players
Major companies operating in the residential real estate market report are Real Estate Maximums, Sotheby's International Realty, CBRE Group Inc., Keller Williams Realty Inc., Colliers International, Christie's International Real Estate, D. R. Hortons Inc., DLF Ltd., IJM Corporation Berhad, Lennar Corporation, Pultegroup Inc., Savills plc, American Tower Corporation, Cushman Wakefield Inc., Anywhere Real Estate Inc., Prologis Inc., Simon Property Group Inc., Coldwell Banker Real Estate LLC, The Cadillac Fairview Corporation Limited, Century 21 Real Estate LLC, ERA Real Estate, Better Homes and Gardens Real Estate, Redfin Corporation, Zillow Group Inc., Movoto Real Estate, Compass Inc., Realogy Holdings Corp, Allen Tate Companies, William Raveis Real Estate, John L. Scott Real Estate, Houlihan Lawrence, Douglas Elliman Real Estate
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the global residential real estate market size in 2023. The regions covered in the residential real estate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Residential Real Estate Market Report Structure
3. Residential Real Estate Market Trends And Strategies
4. Residential Real Estate Market - Macro Economic Scenario
5. Residential Real Estate Market Size And Growth
…..
27. Residential Real Estate Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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