Overview and Scope
Residential real estate refers to properties designed and used as dwellings for individuals or families. It includes various properties such as single-family homes, townhouses, and condominiums.
Sizing and Forecast
The residential real estate market size has grown strongly in recent years. It will grow from $9608.7 billion in 2023 to $10111.21 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The growth in the historic period can be attributed to economic stability and growth, interest rates and mortgage accessibility, population growth and urbanization, government policies and incentives, demographic trends..
The residential real estate market size is expected to see steady growth in the next few years. It will grow to $12168.78 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The growth in the forecast period can be attributed to low-interest rates, shifts in remote work practices, environmental sustainability, changing household structures .. Major trends in the forecast period include affordable housing initiatives, impact of generational preferences, adaptive reuse projects, focus on health and safety features, global market connectivity..
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Segmentation & Regional Insights
The residential real estate market covered in this report is segmented –
1) By Type: Apartments, Condominiums, Landed Houses, Villas
2) By Pricing: Affordable, Mid-Range, Luxury
3) By Size: Less Than 50 Square Meters, 51 To 80 Square Meters, 81 To 110 Square Meters, 111 To 200 Square Meters, More Than 200 Square Meters
4) By Business: Sales, Rental
5) By Mode: Online, Offline
Asia-Pacific was the largest region in the global residential real estate market size in 2023. The regions covered in the residential real estate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Rising demand for residential properties is expected to drive the growth of the residential real estate market going forward. A residential structure consists of one or more rooms with the necessary facilities and utilities to meet a person’s or family’s living needs. The rising demand for residential properties leads to the demand for housing, encourages the construction of high-rise and mixed-use buildings, and opens up opportunities for urban renewal and redevelopment, contributing to the expansion of residential real estate. For instance, in March 2023, according to the United States Census Bureau, a US-based principal agency of the federal statistical system, the number of privately owned housing units approved by building permits in February was 1,524,000 on a seasonally adjusted yearly basis. This is 13.8% more than the January rate, which was corrected to 1,339,000. Therefore, rising demand for residential properties drives the residential real estate market.
Key Industry Players
Major companies operating in the residential real estate market report are Real Estate Maximums, Sotheby’s International Realty, CBRE Group Inc., Keller Williams Realty Inc., Colliers International, Christie’s International Real Estate, D. R. Hortons Inc., DLF Ltd., IJM Corporation Berhad, Lennar Corporation, Pultegroup Inc., Savills PLC, American Tower Corporation, Cushman Wakefield Inc., Anywhere Real Estate Inc., Prologis Inc., Simon Property Group Inc., Coldwell Banker Real Estate LLC, The Cadillac Fairview Corporation Limited, Century 21 Real Estate LLC, ERA Real Estate, Better Homes and Gardens Real Estate, Redfin Corporation, Zillow Group Inc., Movoto Real Estate, Compass Inc., Realogy Holdings Corp, Allen Tate Companies, William Raveis Real Estate, John L. Scott Real Estate, Houlihan Lawrence, Douglas Elliman Real Estate
The residential real estate market report table of contents includes:
1. Executive Summary
2. Residential Real Estate Market Characteristics
3. Residential Real Estate Market Trends And Strategies
4. Residential Real Estate Market – Macro Economic Scenario
5. Global Residential Real Estate Market Size and Growth
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31. Global Residential Real Estate Market Competitive Benchmarking
32. Global Residential Real Estate Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Residential Real Estate Market
34. Residential Real Estate Market Future Outlook and Potential Analysis
35. Appendix
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