Global Real Estate Market Trends And Strategies Of Major Players In The Real Estate Market 2020
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The global real estate market is expected to grow from $2673.1 billion in 2019 to $2696.7 billion in 2020 at a compound annual growth rate (CAGR) of 0.9%. The low growth 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 grow at a CAGR of 8% from 2021 and reach $3323.3 billion in 2023.
The real estate industry’s market consists of the sales of real estate services by entities (organizations, sole traders and partnerships) that rent, lease and allow the use of buildings and/or land. The industry also includes managing real estate for others, selling, renting and buying real estate for others and appraising real estate.
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The global real estate market is further segmented based on type, mode and geography.
By Type: Real Estate Rental, Real Estate Agency And Brokerage.
By Mode: Online, Offline.
By Geography: The global real estate market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia Pacific real estate market accounts for the largest share of 39% in the global real estate market 2019.
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Trends In The Real Estate Market
Blockchain is emerging as a technology to eliminate hidden costs and inefficiencies in the housing market. Blockchain is a record-keeping technology functioning as the encrypted register of digital data. It can encode a property with a unique identifier, and is thus capable of recording the movement of asset from one owner to the next. Real estate is a document-intensive business, and a distributed blockchain ledger can consolidate mortgage, escrow and deed transfer record-keeping, and can also allow automated accommodation of contingent events in the terms of contracts. This helps in expediting real estate transactions, reducing fraud and offering total transparency.
Real Estate Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides real estate market overviews, analyzes and forecasts market size and growth for the global real estate market, real estate market share, real estate market players, real estate market segments and geographies, real estate market’s leading competitors’ revenues, profiles and market shares. The real estate market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.