Global Residential Real Estate Market Report and Forecast 2024-2032

Global Residential Real Estate Market Size

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 Outlook

• Technological integration into real estate project development is one of the key market drivers.

• As the construction sector expands and global GDP rises, sales are expected to become the most popular mode of booking.

• Brazil is expected to attract $40 billion of FDI towards its real estate sector in 2024.

Global Residential Real Estate Market Growth

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 Industry Segmentation

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

• Apartments and Condominiums 

• Landed Houses and Villas

Market Breakup by Mode of Booking

• Sales

• Rental/Lease

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Global Residential Real Estate Market Share

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.

Leading Companies in the Global Residential Real Estate Market

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.

• 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

• Keller Williams Realty, Inc.

• Others

Major market players are focusing on using sustainable raw materials for constructing energy-efficient and comfortable living spaces for people.

Key Highlights of the Report