The multi-family residential green buildings market consists of sales of multi-family residential green buildings and related services for occupation or rentals by households. Green construction refers to the practice of using sustainable building materials and construction processes to create energy-efficient buildings with minimal environmental impact, throughout a building`s life-cycle from siting to design, construction, operation, maintenance, renovation, and deconstruction.
The global multi-family residential green buildings market is expected to decline from $47.5 billion in 2019 and to $45.01 billion in 2020 at a compound annual growth rate (CAGR) of -5.2%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and reach $53.8 billion in 2023 at a CAGR of 6.1%.