The growth of the global real estate market is driven by growth in urbanization and population which is driving the demand for residential, commercial, and industrial properties in emerging economies along with government initiatives to open the sector for foreign direct investment.
Wilmington, Delaware, Nov. 14, 2023 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “Real Estate Market By Property (Residential, Commercial, Industrial), By Business (Sales, Rental), By Type (Land, Buildings): Global Opportunity Analysis and Industry Forecast, 2021-2031.” According to the report, the global real estate industry is estimated to generate $28,917.7 billion in 2021 and $4,923.3 billion by 2031, witnessing a CAGR of 5.3% from 2022 to 2031.
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Drivers, Restraints, and Opportunities
The growth of the global real estate market is driven by growth in urbanization and population which is driving the demand for residential, commercial, and industrial properties in emerging economies along with government initiatives to open the sector for foreign direct investment. However, a very slow rate of growth in the residential real estate market in developed nations hampers the market growth. On the other hand, governments initiatives in many developing nations to improve commercial, industrial, and residential zones present lucrative opportunities in the market in the coming years.
The sales segment to garner the largest revenue by 2031
By business, the sales segment held the largest market in 2021, generating nearly two-thirds of the global real estate market, and is expected to lead the trail throughout the forecast period. Moreover, the same segment is projected to witness the fastest CAGR of 5.7% during the forecast period, attributed to the advantages it offers such as better customization, greater privacy, and more tax benefits.
The residential segment to maintain its lion’s share during the forecast period
By property, the residential segment generated the largest share of more than two-fifths of the global real estate market in 2021, and is anticipated to garner a prominent growth during the forecast period. Moreover, the same segment is estimated to manifest the highest CAGR of 5.7% in 2031, as it provides diversification, improved liquidity, and greater resilience of rental income during the time of market downturns.
The buildings segment to dominate the market in terms of revenue during the forecast period
By type, the buildings segment accounted for the largest share of more than two-thirds of the global real estate market in 2021, and is registered to lead the trail during the forecast period. Moreover, the same segment is expected to exhibit the fastest CAGR of 5.7% from 2022 to 2031, as it saves the time required for construction and helps in saving the cost.
Asia Pacific to garner the largest revenue by 2031
By region, the Asia-Pacific region dominated the market with the largest share in 2021, holding more than two-fifths of the global real estate market, and is expected to register the largest revenue growth during the forecast period. This is due to growing acquisitions by different companies to expand business in the region. However, the market in LAMEA is projected to show at the fastest CAGR of 6.4% during the forecast period, owing to growing investment by the government for infrastructural development in the region.
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Leading Market Players
- Gecina Inc.
- Segro plc
- Link REIT
- Simon Property Group, Inc.
- Sinar Mas Land
- American Tower Corporation
- AvalonBay Communities, Inc.
- Ayala Land, Inc.
- Welltower Inc.
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