Highlight:
- The Real Estate market market worldwide is expected to reach a staggering value of US$637.80tn by 2024.
- Among the various segments, Residential Real Estate dominates the market with a projected market volume of US$518.90tn in the same year.
- Looking ahead, the sector is anticipated to grow at an annual rate of 3.41% (CAGR 2024-2028), resulting in a market volume of US$729.40tn by 2028.
- In a global context, it is worth noting that China is set to generate the highest value in the Real Estate market market, with an impressive US$135.70tn projected for 2024.
- In the United States, the real estate market is experiencing a surge in demand for suburban properties due to the increasing number of people working remotely.
Market Definition
Definition:The real estate market refers to the transaction of properties, including residential properties (such as houses and apartments) and commercial properties, such as office buildings and industrial properties. Apart from property sales, this market includes leases and the value of real estate.
Structure:The real estate market comprises residential and commercial real estate. The residential real estate market covers real estate transactions and leases, and residential real estate leases are divided into apartment and house leases.
Additional information:The market contains the following KPIs: real estate value aggregated for all countries and regions, average real estate value, real estate transaction revenue, number of real estate sold, number of leased and owned real estate, average room per resident, and dwelling type shares. The dwelling type shares comprise the share of the population that lives in houses and apartments. These shares are displayed for real estate owners and real estate renters as well.
IN- Scope/ Out-Of -Scop
IN-SCOPE
- Residential real estate (houses and apartments)
- Commercial real estate (office buildings, retail spaces, warehouses, industrial properties)
OUT-OF-SCOPE
- Real estate agencies
- Construction companies
- Accommodation services, such as Airbnb
- Commercial real estate leases and transactions
- Publicly owned buildings used by the local government
- Buildings used for public health care services
Market Structure
Real Estate
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