Residential land development establishments service land and subdivide real property into lots, for subsequent sale to builders. Servicing of land may include excavation work for installation of roads and utility lines.
The global residential land market was valued at $70.7 billion in 2017. Asia Pacific was the largest geographic region accounting for $41.1 billion or 58.1% of the global market. China was the largest country accounting for $24.9 billion or 35.2% of the global residential land market.
Residential Land Market is expanding with the increase in the augmented reality in today’s life. Augmented Reality has enabled real estate constructors to diversify their operations and providing customer’s to experience property before committing to a transaction. A digital image can be projected or overlayed on the physical world by use of AR. It is possible for users of AR to modify the image that is projected or overlayed.. Prospective purchasers or tenants can customize the experience by visual alterations. The increase in the adaption of AR could help in the reduction of error in property operation and results in the increase in the residential land market.
Companies Covered: Barratt, Persimmon, Crest Nicholson, Miller, Wainhomes
Market Segments Included: Houses And Housing Estate Developments; Apartments And Other Residential Developments
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