According to IMARC Group latest report titled “Real Estate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on global real estate market share. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global real estate market size reached US$ 7,063 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7,954 Billion by 2028, exhibiting a growth rate (CAGR) of 1.8% during 2023-2028.
Real estate refers to tangible property, encompassing both land and any enhancements, such as buildings, fixtures, roads, structures, and utility systems. The legal concept of property rights confers ownership over land, improvements, and natural resources like minerals, plants, animals, and water. There are several real estate types, each with unique characteristics and purposes. Residential real estate comprises properties in which people live, such as houses, apartments, and condominiums. Commercial real estate includes properties used for business purposes, such as office buildings, retail spaces, and warehouses. Industrial real estate is a subset of commercial real estate and includes manufacturing, distribution, research, and development properties. Finally, there is vacant land, which refers to undeveloped or unoccupied land which may have the potential for development or preservation. Each type of real estate serves a distinct function and can offer various investment opportunities.
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Market Trends:
The global market is primarily driven by the increasing desire for personal household space. In line with this, the rapidly growing population and technological advancements such as smart homes, virtual reality, and online property listings are significantly contributing to the market growth. Furthermore, the key players are strongly focusing on the shifting trend of real estate worldwide and are diversifying the service offering to maintain their market share. Apart from this, rapid urbanization and the rising demand for quality housing are positively influencing the market. Moreover, the emerging trend of nuclear families and rapid infrastructural development worldwide are propelling the market. Besides, the increasing expenditure capacities of consumers and the easy availability of financing are strengthening the real estate demand. Additionally, favorable initiatives of governments across the globe, such as tax incentives, zoning laws, and building regulations, are expected to provide a boost to the market.
In addition to these trends, the real estate market is also facing some challenges. One of the biggest challenges is the shortage of affordable housing. The rising cost of homes is making it increasingly difficult for many people to afford to buy a home, especially in urban areas. This has led to a growing demand for affordable housing solutions and a push for government intervention to address the issue.
In conclusion, the real estate market is a dynamic and ever-changing industry that is shaped by a variety of factors. Despite the challenges posed by the COVID-19 pandemic, the market has remained resilient, and experts predict that it will continue to be a strong performer in the years to come. By keeping up with the latest trends and technologies, real estate agents and buyers can stay ahead of the curve and take advantage of the opportunities presented by this dynamic industry.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- American Tower Corporation
- Aston Pearl Real Estate Broker
- Ayala Land Inc. (Ayala Corporation)
- Cbre Group Inc.
- Colliers International
- Gecina
- Jones Lang Lasalle Incorporated
- Prologis Inc.
- Reliance Relocation Services
- SEGRO plc
- Simon Property Group Inc.
- Wanda Group (Dalian Hexing Investment Co. Ltd.)
Real Estate Market Segmentation:
Our report has categorized the market based on region, property, business and mode.
Breakup by Property:
- Residential
- Commercial
- Industrial
- Land
Breakup by Business:
- Sales
- Rental
Breakup by Mode:
- Online
- Offline
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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