Real Estate Market to Reach US$ 8,654 Billion 2024-2032, Driven by 1.9% CAGR

According to IMARC Group latest report titled “Real Estate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on real estate market. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

The global real estate market size reached US$ 7,239 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 8,654 Billion by 2032, exhibiting a growth rate (CAGR) of 1.9% during 2024-2032.

Real estate refers to tangible property consisting of land, buildings, and natural resources, often purchased or invested in for residential, commercial, or industrial purposes.

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Factors Affecting the Growth of the Real Estate Industry:

• Low Interest Rates:

Low interest rates in the real estate industry mean lower monthly mortgage payments for homebuyers. It assists in making homeownership more affordable to individuals. It allows buyers to qualify for larger mortgage loans with lower interest rates. Moreover, existing homeowners can refinance their mortgages at lower rates, which benefits in reducing their monthly payments or accessing equity for other investments or home improvements. Apart from this, it is beneficial for real estate investors to finance and acquire properties, which is offering a positive market outlook.

• Rising Infrastructure Projects:

The rising development of infrastructure projects across the globe is contributing to the growth of the market. Additionally, governing agencies of numerous countries are focusing on smart city projects to enhance the quality of life of individuals. Improved transportation infrastructure assists in reducing commute times and increases convenience for residents. Besides this, organizations are seeking to establish a presence in well-connected areas, which is bolstering the market growth.

• Smart Home Technologies:

The introduction of smart home technologies and energy-efficient features in real estate is supporting the market growth. In addition, smart home systems offer convenience, security, and energy savings, making houses more attractive for buyers. Moreover, energy-efficient features, such as solar panels and insulation, reduce utility costs and appeal to eco-conscious individuals. Furthermore, these innovations align with sustainability goals by lowering carbon emissions in the environment. In addition, people are increasingly preferring houses that assist in reducing their electricity bills and promote a greener environment. 

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Real Estate Market Report Segmentation:

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.)

B Property:

• Residential
• Commercial
• Industrial
• Land

Residential represents the largest segment due to the rising demand for more spacious and aesthetically appealing houses among people.  

By Business:

• Sales
• Rental

Sales hold the biggest market share as there is an increase in the need for efficient supply chain logistics.                 

By Mode:

• Online
• Offline

On the basis of mode, the market has been bifurcated into online and offline.

Regional Insights:

• 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)

Asia Pacific enjoys the leading position in the real estate market on account of rapid urbanization.     

Global Real Estate Market Trends:

Governing agencies of various countries are undertaking several initiatives in the real estate sector by providing affordable housing programs, rent control regulations, and incentives for property developers. 

In line with this, the growing adoption of real estate due to the rising frequency of natural disasters is offering a positive market outlook. Furthermore, there is an increase in the demand for more resilient properties that withstand harsh environmental conditions. Apart from this, the rising number of shopping malls, supermarkets, and other retail spaces across the globe is propelling the market growth.

Key highlights of the report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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