Urbanization and population growth which is driving the demand for residential, commercial and industrial properties in developing countries and government initiatives to open up the sector to foreign direct investment are driving the growth of the global real estate market.
PORTLAND, Oregon., December 6, 2022 /PRNewswire/ — Allied Market Research released a report titled “real estate market By Property (Residential, Commercial, Industrial), By Business (Sale, Rental), By Type (Land, Building): Global Opportunities Analysis and Industry Forecast, 2021-2031.” According to the report, the global real estate sector is estimated to generate $28,917.7 billion in 2021 and $4,923.3 billion by 2031, growing at a CAGR of 5.3% from 2022 to 2031. The report offers a detailed analysis of changing market trends, major segments, major investment pockets, value chain, regional landscape and competitive scenario.
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Drivers, constraints and opportunities
Urbanization and population growth driving the demand for residential, commercial and industrial properties in developing countries and government initiatives to open up the sector to foreign direct investment are fueling the growth of the global real estate market. However, the growth rate of the residential real estate market in developed countries has been very slow as major cities have reached saturation due to expansion. This factor is hampering the growth of the market. On the other hand, the governments of many developing countries such as India planned new cities such as Dream City in Gujarat and New Kanpur, which would have commercial, industrial and residential areas. This presents new opportunities in the market in the coming years.
Covid-19 scenario
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The real estate market has been negatively impacted by the outbreak of the COVID-19 pandemic. The construction, manufacturing, hospitality and tourism sectors have been hit hard.
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With governments around the world imposing shutdowns, manufacturing plants around the world have been closed due to the crisis and unavailability of labour. This resulted in the reduction of construction activities.
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However, real estate companies have now started operating at full capacity, which is helping the market recover quickly.
Buildings segment will dominate the market in terms of revenue over the forecast period
Based on type, the buildings segment contributed the largest share of more than two-thirds of the global real estate market in 2021, and is expected to lead the way during the forecast period. Moreover, the same segment is expected to see the fastest CAGR of 5.7% from 2022 to 2031, as it saves construction time and helps reduce costs.
The residential segment will retain its lion’s share during the forecast period
Based on real estate, the residential segment held the largest share of more than two-fifths of the global real estate market in 2021 and is expected to maintain significant growth during the forecast period. Moreover, the same segment is expected to show the highest CAGR of 5.7% in 2031. This is because it offers diversification, improved liquidity and greater rental income resilience during market downturns.
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The sales segment that will generate the most revenue by 2031
Based on activities, the sales segment was the largest market in 2021, accounting for nearly two-thirds of the global real estate market, and is expected to lead the way throughout the forecast period. Moreover, the same segment is expected to show the fastest CAGR of 5.7% during the forecast period. The segment’s growth is attributed to the benefits it offers, such as greater privacy, better customization, and more tax advantages.
Asia Pacific generate the highest revenue by 2031
Based on the region, Asia Pacific was the largest market in 2021, accounting for more than two-fifths of the global real estate market, and is expected to experience the highest revenue growth over the forecast period. This is due to the increasing acquisitions by different companies to expand their businesses in the region. However, the LAMEA market is expected to grow at the fastest CAGR of 6.4% during the forecast period, owing to increasing government investments for infrastructure development in the region.
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Main market players
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American Tower Society
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AvalonBay, Inc. Communities
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Land of AyalaInc.
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Gecina Inc.
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REIT Link
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Prologis
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Segro plc
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Simon Realty Group, Inc.
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Land of Sinar Mas
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WellTower Inc.
The report analyzes these key players in the global real estate market. These players have adopted various strategies such as expansion, new product launches, partnerships and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments of each market player.
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