Real Estate Industry Overview
The global real estate market size is expected to reach USD 5.85 trillion by 2030, registering a CAGR of 5.2% from 2022 to 2030, according to a new report by Grand View Research, Inc. Rapid economic expansion in developing countries such as India, China, and several African countries has increased income levels and favored the real estate industry.
Property and condominiums are purchased, sold, rented, and leased in the market for business and personal household usage. Due to an expanded number of significant companies joining the area regional market, the commercial real estate business has risen dramatically in the recent decade. Government reforms, reduced rentals, and lower mortgage rates in developing countries are expected to increase industry growth in the foreseeable future.
Real Estate Market Segmentation
Grand View Research has segmented the global real estate market based on property, type, and region:
Based on the Property Insights, the market is segmented into Residential, Commercial, Industrial, Land, and Others
- Residential property dominated the market with a revenue share of 35.5% in 2021. The growth is majorly driven by the millennials as they are more inclined toward homeownership in recent years.
- Commercial property is projected to register a CAGR of 5.1% from 2022 to 2030. The market is booming at an exceptional pace as a result of the growth of the tourism sector.
- Moreover, the growing number of hotels and resorts is expected to drive the demand for bathroom furniture.
Based on the Type Insights, the market is segmented into Sales, Rental, and Lease
- In terms of revenue, the rental type dominated the market with a share of 52.1% in 2021. This is attributable to rising home prices in developed countries, owing to which there is a rise in the number of renters, favoring the segment growth.
- Sales type is estimated to expand at a CAGR of 6.1% over the forecast period. The COVID-19 pandemic has changed consumer perception towards owning a property, as result, there has been a rise in demand for luxury homes, villas, and second homes.
Real Estate Regional Outlook
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The market is characterized by the presence of a few established players and new entrants. Many big players are increasing their focus on the growing trend of real estate. Players in the market are diversifying the service offering to maintain their market share.
Some prominent players in the global Real Estate market include:
- Brookfield Asset Management Inc.
- ATC IP LLC.
- Prologis, Inc.
- SIMON PROPERTY GROUP, L.P.
- Coldwell Banker
- RE/MAX, LLC.
- Keller Williams Realty, Inc.
- CBRE Group, Inc.
- Sotheby’s International Realty Affiliates LLC.
- Colliers
Order a free sample PDF of the Real Estate Market Intelligence Study, published by Grand View Research.
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