The Global Real Estate Market size is expected to reach USD 9,058.76 Billion in 2028 and register a revenue CAGR of 3.1% over the forecast period, according to the latest report by Reports and Data. Expanding global urban population, increasing number of individuals moving to urban areas for work, and rapid infrastructural developments globally are some key factors expected to continue to drive market revenue growth over the forecast period. In addition, increasing number of government-supported urban development programs and policies such as smart cities in various countries is expected to contribute significantly to revenue growth of the global real estate market going ahead.
Need for high-quality housing and commercial infrastructure is rising in accordance with the growing global population. Primary factors driving revenue growth of the global real estate sector are increasing number of nuclear families and high disposable income. Currently, metropolitan cities are contributing majority revenue share in the real estate market. In larger cities, difficulties and challenges such as high land and building costs, limited land resources, very high real estate values, and other infrastructural development issues are increasing along with rapidly growing construction sector. This is expected to result in shifting focus of developers and investors on Tier 2 and Tier 3 cities, which in turn is expected to boost market revenue growth. Rising need and demand for constructing superior-quality commercial infrastructure in various cities is a key factor driving real estate market revenue growth. In addition, increasing improvement of transportation infrastructure such as railways, airports, and expressways, and better road connectivity, as well as healthcare infrastructure, educational institutions, recreational facilities, retail shops, and business centers, among other set-ups, are increasing property values in residential and commercial sectors. Number of real estate projects is expected to rise as governments in both, developed and developing countries, are emphasizing on infrastructural developments. However, Covid-19 pandemic and lockdown, and rising public and private debts are factors that could hamper market revenue growth to a certain extent over the forecast period.
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Market Overview:
As a result of steady revenue growth over the past few years, the manufacturing and construction industry is expected to achieve a robust annual revenue growth rate between 2021 and 2028. In addition to the rapidly growing construction industry, rapid urbanization and industrialization, and technological advancements in manufacturing techniques, this can also be attributed to these factors. Green construction and energy efficient buildings have become increasingly popular in recent years as awareness of environmental impact and carbon emissions has increased. Over the forecast period, key factors are expected to boost global market growth, including the rapid growth of global populations, changing lifestyle preferences, the increasing demand for smart buildings, an increase in renovation and reconstruction activities, and an increase in eco-friendly construction activities. Other factors that will contribute to market growth in the future include an increase in disposable income, government schemes, and investments by private organizations.
Some of the Leading Market Players Are Listed Below:
- CBRE Group, Inc.,
- New World Development Company Limited,
- Colliers International Group Inc.,
- Newmark Group Inc.,
- Marcus Millichap, Inc.,
- Remax, Inc.,
- Keller Williams Realty, Inc.,
- Zillow Group, Inc.,
- Realogy Holdings Corp.
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Competitive Landscape:
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as license agreements, partnerships, merger and acquisitions, collaborations, RD investments, and joint ventures to gain robust footing in the market.
Market Segmentation:
By Type Outlook
- Commercial
- Residential
- Industrial
By Property Type Outlook
- Office
- Apartment
- Industrial
- Retail
- Development Site
- Hotel
- Seniors Housing
- Others
By Business Model Outlook
- Online
- Offline
The Global Real Estate Market Is Segmented Into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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