According to the latest report by IMARC Group, titled " Real Estate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global real estate market reached a value of US$
7,063 Billion in 2022. Real estate refers to the purchasing and selling of properties that are owned by a particular individual in the form of land and buildings. It includes properties with any permanent improvements attached to the space, whether manufactured or natural, including trees and fences. Along with this, it also includes commercial offices, residential housing, trading spaces, hotels and restaurants, and retail outlets. Additionally, investments in real estate aid in tax benefit, portfolio diversification, long-term security and passive income while protecting individuals against inflation.
Global Real Estate Market Trends:
The global market is primarily driven by increasing investments by private and public agencies in infrastructural development projects. Coupled with rapid urbanization and industrialization, this is favorably impacting the market growth. In line with this, the rising global population and the inflating disposable income levels of the masses are also acting as major growth-inducing factors. Along with this, the increasing preference for good quality housing facilities with a safe and secured environment among the masses is favoring the market growth. Furthermore, the rising need for rearranging business operations due to globalization is further propelling the market growth. In addition to this, the increasing adoption of aggressive marketing strategies and advertisements on social media platforms by key players is creating a positive outlook for the market. Other factors, including continuous improvements in the construction industry, the rising trend of nuclear families and a significant shift of the population from rural to urban areas, are further contributing to the market growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$
7,954 Billion by 2028, expanding at a CAGR of
1.8% during 2023-2028.
- On the basis of the property, the market has been segmented into residential, commercial, industrial and land.
- Based on the business, the market has been bifurcated into sales and rental.
- On the basis of the mode, the market has been segregated into online and offline.
- Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of the key players are 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. and Wanda Group (Dalian Hexing Investment Co. Ltd.).
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