The Real Estate by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Real Estate, The real estate market size has grown strongly in recent years. It will grow from $4016.66 billion in 2023 to $4314.99 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to strong economic growth in emerging markets, increased demand for affordable housing, government initiatives and rise in disposable incomes.
The real estate market size is expected to see strong growth in the next few years. It will grow to $5667.94 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to increasing investments in infrastructure, an increasing population, increasing urbanization and fall in interest rates. Major trends in the forecast period include focus on use of blockchain for easy transferability and greater customer control over property, use of data analytics to gain insights into market trends, pricing, and customer preferences, integration of ar (augmented reality) and vr (virtual reality) in real estate, use of artificial intelligence (ai) technology that assists in developing projections for rental prices and determining house prices, and alternative payment methods to offer customers the ability to pay their rent on credit.
The real estate market's growth will be aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global real GDP growth will be 3.6% from 2021 to 2023. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast period. For instance, according to official data from the World Bank, the GDP of India increased to reach $3173.40 billion in 2021, compared to $2667.69 billion in 2020.
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The real estate market covered in this report is segmented –
1) By Type: Real Estate Rental, Real Estate Agency and Brokerage
2) By Mode: Online, Offline
3) By Property Type: Fully Furnished, Semi Furnished, Unfurnished
Sub segments: Residential Buildings And Dwellings Rental Services, Non-Residential Buildings Rental Services, Mini Warehouses And Self-Storage Units Rental Services, Other Rental Services, Residential Buildings And Dwellings Brokers, Non-Residential Buildings Brokers, Mini warehouses And Self-Storage Units Brokers, Other Brokers
Gen Z (born between the mid-1990s and early 2000s) is the next generation of renters after the millennials and they are predicted to spend more than any other generation on rental services in their lifetime. Gen Z is highly dependent on technology and relies more on the internet and social media to make purchasing and lifestyle decisions. Since Gen Z has experienced technology their entire lives, leasing and marketing campaigns for real estate rental services should incorporate the use of technology to reach this generation where they are most active such as on apps, on social media, or any other internet source. Gen Z makes up almost one-quarter of the U.S. population therefore; the real estate market is expected to witness growth from this generation in the five years from 2019 to 2023
The real estate market report table of contents includes:
- Executive Summary
- Rail Transport Market Characteristics
- Rail Transport Market Trends And Strategies
- Rail Transport Market - Macro Economic Scenario
- Global Rail Transport Market Size and Growth
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- Global Rail Transport Market Competitive Benchmarking
- Global Rail Transport Market Competitive Dashboard
- Key Mergers And Acquisitions In Rail Transport Market
- Rail Transport Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- Real Estate Maximums
- Sotheby’s International Realty,
- CBRE Group Inc.
- Keller Williams Realty Inc.
- Colliers International
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