Real Estate Market Characteristics
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.
Competitive Landscape of the Real Estate Market
Major players in the global real estate market include CBRE Group, Jones Lang LaSalle Inc., New World Development Company Limited, Colliers International, New mark Grubb Knight Frank, Camden Property Trust, Deutsche Wohnen AG, Marcus and Millichap, HFF Inc., Real Estate Maximums, LLC.
Real Estate Market Size
The real estate market size is expected to reach $4.2 trillion by 2022, significantly growing at a CAGR of around 4.7% during the forecast period. The growth in the real estate market is due to increased demand for residential and non-residential buildings, rapidly growing urban population and economy in emerging countries such as China and India, rising per capita income, setting up of new industries and other commercial establishments, rapidly increasing property prices in some areas, decreasing interest rates and development of new cities in regions such as Asia, Africa and the Middle East.
Growth in education and healthcare industry also fuelled the demand for real estate. However, the market for real estate is expected to face certain restraints from several factors such as lack of skills, workforce issues.
Real Estate Market Segmentation
The global real estate market is further segmented based on type and geography.
By Type - The real estate market is segmented into rental activities and brokerage services, among these segments, the rental activities market accounts for the largest share in the global real estate market.
By Geography - The global real estate is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North America real estate market accounts the largest share in the global real estate market.
Trends in the Real Estate Market
Block chain for real estate industry, crowdfunding investments in real estate and technology to improve agent services are the major trends witnessed in the global real estate market.
Potential Opportunities in the Real Estate Market
With growing population, rapid urbanization, rising per capita income, demographic shift, and easing real estate regulations to facilitate affordable housing in emerging countries, the scope and potential for the global real estate market is expected to significantly rise in the forecast period.