Rapid urbanization in developing countries and several government policies & housing schemes fuel the growth of the global residential real estate market. Based on budget, the less than $300,000 segment held the largest share in 2019. On the other hand, by size, the less than 50 square meters segment appeared as the highest revenue holder in the same year.
Portland, OR, Nov. 03, 2020 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global residential real estate market was pegged at $8,567.4 billion in 2019 and is estimated to hit $12,182.1 billion by 2027, registering a CAGR of 9.0% from 2020 to 2027. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
Rapid urbanization in developing countries and several government policies & housing schemes fuel the growth of the global residential real estate market. On the other hand, saturation in developed nations hampers the growth to some extent. Nevertheless, expansion of old cities is expected to create lucrative opportunities for the key players in the industry.
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The regulations set by several government bodies across the world led to disruptions in construction activities during the prolonged lockdown, thereby affecting the transactions of residential real estate to a significant extent.
However, the regulations are gradually being eased off and the market is projected to get back to its position soon.
The global residential real estate market is analyzed across budget and size. Based on budget, the less than $300,000 segment contributed to nearly three-fourths of the total market share in 2019 and is expected to rule the roost by the end of 2027. The $700,001-$1,000,000 segment, on the other hand, would register the fastest CAGR of 10.8% throughout the forecast period.
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Based on size, the less than 50 square meters segment accounted for more than one fourth of the total market revenue in 2019 and is anticipated to lead the trail from 2020 to 2027. The same segment would also garner the fastest CAGR of 9.7% till 2027.
The leading market players analyzed in the global residential real estate market report include Christie’s International Real Estate, Coldwell Banker Real Estate LLC, DLF Limited, Engel & Völkers AG, Vinci, Arabtec Holding, Hochtief Corporation, Pultegroup, Inc., Raubex Group Limited, Savills plc, Sotheby’s International Realty Affiliates LLC, IJM Corporation Berhad, Sun Hung Kai Properties Limited, and Lennar Corporation. These market players have adopted different strategies including partnership, expansion, collaboration, joint ventures, and others to reinforce their status in the industry.
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