Availability of a number of lucrative home loans and economic growth and development, especially in developing countries, are key factors driving market growth
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. Increasing offers of lucrative home loans and rapid economic growth and development are key factors expected to drive market revenue growth over the forecast period. In addition, rapidly growing logistics sector and rising need for infrastructural developments are factors expected to drive revenue growth of the global real estate market over the forecast period.
Rapid economic development in various developed as well as certain developing countries across the globe is expected to boost real estate market growth to a significant extent. Development of any economy is measured by economic metrics such as Gross Domestic Product (GDP), employment rates, and business investments and inflation, among others. This means when an economy is growing, the need for real estate properties rises, which in turn boosts real estate demand. Home loan rates that are attractive and interest tax reductions proposed in budgets can help to stimulate housing affordability and encourage purchases by first-time homebuyers. However, rising public and private debts and outbreak of the COVID-19 are factors that could limit buying and selling of properties as well as construction of new projects and houses due to lack of labor, and hamper market revenue growth to a certain extent in the next few years.
Some Key Highlights From the Report:
- Residential segment is expected to account for a significantly large revenue share in the global market during the forecast period, owing to increasing apartment development and lucrative house loans from financial firms.
- Apartment segment is expected to register a robust revenue CAGR over the forecast period, due to rising disposable income, and growing urban population, due to which apartment development is increasing.
- The online segment is expected to register the fastest revenue growth rate during the forecast period. Online properties promotional portals are a significant marketing tactic for companies since consumers are becoming more technically sound and are preferring to explore and try reading up on the real estate digitally before selecting one and going out for a property visit.
- Asia Pacific market is expected to register a robust revenue CAGR over the forecast period attributed to growing population and strong economic growth in countries in the region. Additionally, opportunities of investment returns and rising demand for both, residences and commercial real estate properties, are encouraging international investors to invest.
- Companies profiled in the global market report include 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., and Realogy Holdings Corp.
For the purpose of this report, Reports and Data has segmented the global real estate market based on type, property type, business model, and region:
Type Outlook (Revenue, USD Billion; 2018-2028)
Property Type Outlook (Revenue, USD Billion; 2018-2028)
- Development Site
- Seniors Housing
Business Model Outlook (Revenue, USD Billion; 2018-2028)
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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