Real Estate Market to Reach $4,923.3 Billion, Globally, by 2031 at 5.3% CAGR: Allied Market Research

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Dec 06, 2022, 07:29 ET

PORTLAND, Ore., Dec. 6, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Real Estate Market By Property (Residential, Commercial, Industrial), By Business (Sales, Rental), By Type (Land, Buildings): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global real estate industry is estimated to generate $28,917.7 billion in 2021 and $4,923.3 billion by 2031, witnessing a CAGR of 5.3% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

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Drivers, Restraints, and Opportunities

Growth in urbanization and population which is driving the demand for residential, commercial, and industrial properties in developing countries and government initiatives to open the sector for foreign direct investment fuel the growth of the global real estate market. However, there has been a very slow rate of growth in the residential real estate market in developed nations, as major cities have reached saturation due to expansion. This factor hinders the market growth. On the other hand, governments in many developing nations such as India have planned new cities such as Dream City in Gujarat and New Kanpur, which would have commercial, industrial, and residential zones. This presents new opportunities in the market in the coming years.

Covid-19 Scenario

The real estate market was negatively impacted by the outbreak of the COVID-19 pandemic. The construction, manufacturing, hotel, and tourism industries were highly affected.
With governments all over the world imposing lockdowns, manufacturing facilities across the globe were shut down, owing to the crisis and unavailability of workforce. This resulted in the reduction of construction activities.
However, real estate companies have now started operating at their full-scale capacities that is helping the market to recover at a swift pace.

The buildings segment to dominate the market in terms of revenue during the forecast period

Based on type, the buildings segment contributed to the largest share of more than two-thirds of the global real estate market in 2021, and is expected to lead the trail during the forecast period. Moreover, the same segment is projected to witness the fastest CAGR of 5.7% from 2022 to 2031, as it saves the time required for construction and helps in saving the cost.

The residential segment to maintain its lion's share during the forecast period

Based on property, the residential segment held the largest share of more than two-fifths of the global real estate market in 2021, and is expected to maintain a prominent growth during the forecast period. Moreover, the same segment is likely to exhibit the highest CAGR of 5.7% in 2031. This is because it provides diversification, improved liquidity, and greater resilience of rental income during the time of market downturns.

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The sales segment to garner the largest revenue by 2031

Based on business, the sales segment was the largest market in 2021, accounting for nearly two-thirds of the global real estate market, and is likely to lead the trail throughout the forecast period. Moreover, the same segment is anticipated to manifest the fastest CAGR of 5.7% during the forecast period. The growth of the segment is attributed to the benefits it provides such as greater privacy, better customization and more tax benefits.

Asia Pacific to garner the largest revenue by 2031

Based on region, Asia-Pacific was the largest market in 2021, accounting for more than two-fifths of the global real estate market, and is anticipated to manifest the largest revenue growth during the forecast period. This is due to growing acquisitions by different companies to expand business in the region. However, the market in LAMEA is likely to grow at the fastest CAGR of 6.4% during the forecast period, owing to growing investment by the government for infrastructural development in the region.

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Leading Market Players

American Tower Corporation
AvalonBay Communities, Inc.
Ayala Land, Inc.
Gecina Inc.
Link REIT
Prologis
Segro plc
Simon Property Group, Inc.
Sinar Mas Land
Welltower Inc.

The report analyzes these key players of the global real estate market. These players have adopted various strategies such as expansion, new product launches, partnerships and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.

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