Increasing Demand For Residential Buildings Growth In Property Management Service: The Driving Engine Behind Property Management Service Market Evolution in 2025

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Property Management Service Market Size Growth Forecast: What to Expect by 2025?
There has been a substantial growth in the property management service market size over recent years. The market, which was valued at $15.57 billion in 2024, is projected to escalate to $16.79 billion in 2025 with a compound annual growth rate (CAGR) of 7.8%. Factors such as the expansion of transportation hubs, the growth of employment centers, the rise in maintenance costs and property values, an increase in lease agreements, and regulatory compliance have all contributed to the historical period's growth.

How Will the Property Management Service Market Size Evolve and Grow by 2029?
Anticipated robust expansion is being foreseen in the property management service market over the upcoming years. A 7.5% compound annual growth rate (CAGR) is projected to increase its value to $22.4 billion by 2029. This growth in the predicted period is due to factors such as high occupancy rates, escalating operational costs, cumulative rental rates, elevated sustainability efforts, and financial performance. The market is likely to see emerging trends including remote management, improvements in tenant experience, adaptable lease models, data-guided decision-making, digital payment methods, streamlined operations, and changes in the workforce during the forecast period.

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What Drivers Are Propelling the Growth of Property Management Service Market Forward?
The property management service market is expected to flourish due to the surging demand for residential buildings. Residential buildings, designed and built to provide living space for individuals and families, are seeing a rise in demand. This demand is fueled by factors such as population increase, affordable mortgage rates, and shifts in lifestyle preferences. Residential buildings use property management services to enhance operations, keep tenants satisfied, and preserve their asset value. In February 2024, the United States Census Bureau reported that in January, the number of privately owned housing units authorized by building permits had a seasonally adjusted annual rate of 1,470,000, a growth of 8.6% from January 2023's rate of 1,354,000. In January, the completion rate of privately owned houses was 1,416,000, showing a 2.8% increase from January 2023 when it was 1,377,000. Hence, the property management service market is being propelled by the increased demand for residential buildings.

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What Are the Key Trends Driving Property Management Service Market Growth?
Property management service market's key players are focusing on developing cutting-edge solutions like comprehensive operations management services to augment their service efficiency and enrich the entire experience for their respective clients. Comprehensive operations management facilities facilitate each aspect of property oversight, ranging from leasing and upkeep to financial handling. This ensures thorough support for property owners. To illustrate, a real estate investment, development, and property management service company from the US known as Hines launched its comprehensive property management facilities in France in February 2023. This move is aimed at fortifying its ties with local communities in conjunction with offering proactive operational oversight. The company is committed to providing an exceptional customer experience by simplifying services and eliminating the hassles of dealing with multiple service providers. Its support covers all aspects of buildings which include mechanical and technical engineering, leasing handling, monitoring of energy performance, asset and risk oversight, accounting for property management, and administrative facilities.

What Are the Key Segments in the Property Management Service Market?
The property management service market covered in this report is segmented -

1) By Service: Rent Collection, Mortgage And Utility Payment, Leasing, Legal And Accounting Services, Repair And Maintenance, Other Services
2) By Property Type: Residential, Commercial, Industrial, Special Purpose Properties
3) By End Users: Property Managers Or Agents, Housing Associations

Subsegments:
1) By Rent Collection: Rent Payment Collection, Late Fee Management, Tenant Billing And Payment Processing
2) By Mortgage And Utility Payment: Mortgage Payment Management, Utility Billing And Payment, Payment Reminders And Processing
3) By Leasing: Tenant Leasing And Contracts, Lease Renewals And Modifications, Tenant Screening And Application Processing
4) By Legal And Accounting Services: Legal Compliance And Documentation, Property Tax Management, Financial Reporting And Bookkeeping, Tax Filing And Audits
5) By Repair And Maintenance: Preventive Maintenance, Emergency Repairs, Routine Property Inspections, Vendor Management For Repairs
6) By Other Services: Property Inspections And Appraisals, Eviction Services, Marketing And Advertising For Vacancies, Tenant Relations And Communication

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Who Are the Key Players Shaping the Property Management Service Market's Competitive Landscape?
Major companies operating in the property management service market are Vanke Co. Ltd., International Business Machines Corporation, Evergrande Group, SAP SE, Jones Lang LaSalle Incorporated, Poly Property Group Co. Ltd., Colliers International Group Inc., Trimble Inc., Mapletree Investments Pte Ltd., Savills Singapore Pte Ltd., Yardi Systems Inc., RealPage Inc., AppFolio Inc., Entrata Inc., Southern Management Corporation, Quintessentially Estates Limited, Abacus Group LLC, Lee & Associates Commercial Real Estate Services Inc., Marsh & Parsons Limited, Summit Management Services Inc., Blue Sky Luxury, Archibus Inc., Rhodo Property & Estate Management Services, Rently Inc., Premier Property Management Services, Elda Management Services Inc., Advantage Property Management Services, Alpha Property Management Services LLC, Rosen Management Services, Orchard Block Management Services, Preferred Property Management Services Inc.

What Geographic Markets Are Powering Growth in the Property Management Service Market?
North America was the largest region in the property management service market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the property management service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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