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 for 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.
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 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 which 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 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
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About Grand View Research:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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