The global real estate market is expected to generate a revenue of USD 4,263.7 billion by 2025, according to a new report by Grand View Research, Inc. Factors such as the increasing demand for housing real estate space, rapid urbanization through migration in search of better amenities. Rapid economic development in the developing regions and countries like India, China, and many African countries has enhanced income levels and helped in the real estate market.
The real estate market involves buying, selling, and renting leasing of property, and condominiums for commercial and personal household usage. Commercial real estate business had grown exponentially in the last decade owing to an increased number of key players entering the regional market as well. Government reforms, lower rentals, mortgage rates in the developing countries is likely to boost the market over the forecast period
According to United Nations, approximately 50% of the population lives in urban areas and this figure is set to reach up to 65% in the forecast period owing to the migration into cities that turn into megacities with bustling urban amenities and lifestyle.
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Further key findings from the report suggest:
The market is driven by rapid urbanization through migration to find better amenities thus increasing the demand for urban home spaces
Real estate spaces for commercial, retail, industrial and healthcare infrastructure are in high demand with increasing urbanization
Political uncertainty is hampering the market growth to an extent due to hesitation from the investors due to unsure returns and initiation of the projects
Asia Pacific and Middle East are the hotspots for real estate development and investment supported by a large population and favorable regulations by the governments
North America, Asia Pacific, and Middle East Asia are set to witness considerable growth in demand for personal real estate spaces over the forecast period driven by the increasing population and favorable reforms from the government bodies
Some of the leading real estate companies are Central General Development CO., Ltd., Equity Residential, Grainger Plc, Dalian Wanda Group, LeadingRE, Aston Pearl Real Estate, and others
Grand View Research has segmented the real estate market into regions & countries on both revenue and volume fronts:
Regional Outlook (Revenue, USD Billion; 2014 - 2025)
Regional Outlook (by million units sold, 2014 - 2025)
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