Residential Real Estate Market Growth Enabled by Urban Renewal Projects and Tier-2 City Expansion

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Residential Real Estate Market- (By Type (Apartments And Condominiums, Landed Houses And Villas), By Region, Trends, Industry Competition Analysis, Revenue and Forecast To 2034."

According to the latest research by InsightAce Analytic, the Global Residential Real Estate Market is valued at USD 10.9 trillion in 2024, and it is expected to reach USD 22.2 trillion by the year 2034, with a CAGR of 7.8%  during the forecast period of 2025-2034.

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The residential real estate sector involves the purchase, sale, lease, and rental of properties designated for private occupancy. It encompasses a wide spectrum of housing types, including townhouses, apartments, condominiums, single-family residences, and multifamily complexes. The market caters to a diverse clientele, ranging from families and individual homeowners to investors acquiring properties for personal use or rental income.

Growth in this sector is fueled by the expansion of the middle class with rising disposable incomes, supportive government policies promoting affordable housing, and sustained urbanization driving demand in major metropolitan areas. Additionally, infrastructure development initiatives and affordable housing programs in tier-2 and tier-3 cities are further accelerating market expansion. Nonetheless, the sector remains susceptible to variables such as interest rate fluctuations, regulatory developments, and land acquisition challenges. Moreover, increasing consumer emphasis on environmental sustainability is fostering demand for eco-friendly and energy-efficient residential solutions.

List of Prominent Players in the Residential Real Estate Market:

·      Christie International Real Estate

·      Coldwell Banker Real Estate Company

·      Al Habtoor Group

·      DLF Ltd

·      Keller Williams Realty

·      Brookfield Asset Management

·      CBRE Group, Inc.

·      AvalonBay Communities, Inc.

·      Equity Residential

·      Greystar Real Estate Partners

·      Emaar Properties

·      Greenland Holdings

·      Frasers Property

·      Harcourts International

·      Engel & Völkers

·      Vonovia SE

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Market Dynamics

Drivers:

The residential real estate market is positioned for sustained growth, largely driven by rising demand for housing that accommodates the evolving needs of individuals and families. This demand spans a variety of residential formats, including single-family homes, high-rise developments, and mixed-use projects, as well as opportunities within urban renewal and redevelopment initiatives. According to data from the United States Census Bureau, building permits for privately owned housing units reached a seasonally adjusted annual rate of 1,524,000 in February 2023—an increase from the revised January figure of 1,339,000. This upward trajectory highlights the strong market appetite that continues to stimulate expansion within the sector.

Challenges:

A consistent and transparent regulatory framework is critical to the efficient operation of the residential real estate industry. However, inconsistencies across federal, state, and local regulations often create uncertainty for developers and asset managers, driving up costs, risks, and operational complexity. The introduction of Environmental, Social, and Governance (ESG) compliance requirements—mandating the evaluation and disclosure of real estate assets—further compounds these challenges by adding new layers of compliance and reporting obligations.

Regional Trends:

North America is projected to retain a leading share of global market revenues, supported by high per capita income levels in the United States and Canada, which continue to favor homeownership over rental options. The region also benefits from sustained investor interest in real estate as an asset class, driven by opportunities for both capital appreciation and rental income growth. Advancements in home automation, evolving consumer expectations, progressive regulatory changes, and the emergence of innovative business models are further shaping the regional market landscape.

In contrast, the Asia-Pacific region is expected to record the highest growth rate over the forecast period. This acceleration is fueled by rapid population growth, rising disposable incomes, and accelerated urbanization, particularly in China and India. Economic factors such as GDP per capita expansion and large-scale urban development are boosting new housing construction. Additionally, a surplus of inventory—generated through both domestic demand and foreign investment in pre-construction properties—is creating compelling market opportunities across the region.

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Recent Development:

·      April 2024: The US-based real estate technology startup Alpha Tech Corp. introduced Claire, an AI-powered smart buyer's agent that offers a free substitute for traditional agents and helps homeowners from the beginning of the property search to the closing. Using more than 400 data attributes and a conversational interface that is available around the clock, Claire matches buyers with houses and assists with negotiations, offers, and tours. With this launch, the residential real estate sector is making a big change toward a zero-commission model, which could save purchasers billions of dollars in realtor costs.

·      March 2023: Lincoln Residential was purchased by the Canadian real estate firm Cadillac Fairview Corporation Limited for an unknown sum. Through this transaction, Cadillac Fairview Corporation is able to improve its client offers, grow its market share, and establish a stronger footprint in residential real estate. Multifamily residential property development, acquisition, and management are the areas of expertise for Lincoln Residential, a US-based real estate development and management firm.

·      September 2022: The MLS Suite for Multiple Listing Services for AI in real estate was introduced by Restb.ai, a Spanish computer vision company. The AI-powered solutions were developed to increase the value of MLS data, automate the listing entry process, and safeguard IDX and VOW website users. AI tagging, compliance, MLS match, and property descriptions are the primary solutions provided to MLS.

Segmentation of Residential Real Estate Market-

By Type-

• Condominiums and Apartments
• Villas and Landed House

By Region-

North America-

·      The US

·      Canada

·      Mexico

Europe-

·      Germany

·      The UK

·      France

·      Italy

·      Spain

·      Rest of Europe

Asia-Pacific-

·      China

·      Japan

·      India

·      South Korea

·      South East Asia

·      Rest of Asia Pacific

Latin America-

·      Brazil

·      Argentina

·      Rest of Latin America

 Middle East & Africa-

·      GCC Countries

·      South Africa

·      Rest of the Middle East and Africa

About Us:

InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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