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Base Year
Historical Year
Forecast Year
The global residential real estate market reached around USD 9.97 trillion in 2023. The market is projected to grow at a CAGR of 5.8% between 2024 and 2032, reaching almost USD 16.8 trillion by 2032.
Global Residential Real Estate Market Report Summary | Description | Value |
Base Year | USD Trillion | 2023 |
Historical Period | USD Trillion | 2018-2023 |
Forecast Period | USD Trillion | 2024-2032 |
Market Size 2023 | USD Trillion | 9.97 |
Market Size 2032 | USD Trillion | 16.80 |
CAGR 2018-2023 | Percentage | XX% |
CAGR 2024-2032 | Percentage | 5.8% |
CAGR 2024-2032 - Market by Region | Asia Pacific | 6.5% |
CAGR 2024-2032 - Market by Country | India | 6.8% |
CAGR 2024-2032 - Market by Country | Brazil | 6.6% |
CAGR 2024-2032 - Market by Type | Apartments and Condominiums | 6.7% |
CAGR 2024-2032 - Market by Mode of Booking | Sales | 6.4% |
Market Share by Country 2023 | Brazil | 3.1% |
The Middle East and Africa is witnessing a surge in sales of housing apartments and villas, driven by the expansion of existing housing complexes in countries like the UAE, Bahrain, and Saudi Arabia. In 2023, the total number of residential real estate transactions in key Saudi Arabian cities like Riyadh, Dammam Metropolitan Area, and Jeddah reached 67,233.
In Riyadh, the average value of nearly 80% of all apartment sales was $66,000-$266,000, indicating increasing demand for adequate housing among the low- and middle-income consumers in the region. While apartment sales have increased significantly in South Riyadh, North Riyadh remains a prominent residential hub in Saudi Arabia. The average value of most of the apartment/villa sales in these key cities is nearly $248,000, with Jeddah witnessing an increasing demand for high-end residences.
The real estate market in Latin America is witnessing significant growth as its GDP growth rate is expected to reach 2.3% in 2024. Brazil is expected to emerge as a key regional market, where surging construction activities and rising demand for housing properties are expected to propel the market growth. Property sales are outpacing launches, which has led to a year-on-year reduction of 6.1% in inventory. The introduction of urban renewal projects like the Minha Casa Vida is expected to propel the development of affordable housing across the country in the forecast period.
Global Residential Real Estate Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Mode of Booking
Market Breakup by Region
CAGR 2024-2032 - Market by | Country |
India | 6.8% |
Brazil | 6.6% |
Saudi Arabia | 6.3% |
China | 6.2% |
Canada | 6.0% |
USA | XX% |
UK | 5.7% |
Germany | XX% |
France | XX% |
Italy | XX% |
Japan | XX% |
Australia | XX% |
Mexico | XX% |
Based on type, the market is divided into apartments and condominiums, and landed houses and villas, among others. Over the forecast period, apartments and condominiums are expected to account for a major market share as rapid industrialisation and urbanisation are driving the development of vertical housing projects with luxurious facilities for affluent consumers.
The report provides a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers and acquisitions, investments, and capacity expansion.
Major market players are focusing on using sustainable raw materials for constructing energy-efficient and comfortable living spaces for people.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Mode of Booking |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market was valued at nearly USD 9.97 trillion in 2023.
The market is projected to grow at a CAGR of 5.8% between 2024 and 2032.
The market is assessed to witness a healthy growth in the forecast period to reach around USD 16.8 trillion in 2032.
The different types of residential real estate include apartments and condominiums, and landed houses and villas, among others.
The major modes of booking residential real estate include sales and rental/lease.
The different regions covered in the market report are North America, Europe, the Asia Pacific, Latin America and the Middle East and Africa.
The key market players are DLF Ltd., Savills Plc, DR Horton Inc., Lennar Corp., Christie International Real Estate, Al Habtoor Group LLC, Engel & Volkers GmbH, Sun Hung Kai Properties Limited, Coldwell Banker Real Estate LLC, and Keller Williams Realty, Inc., among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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