How Is The Apartments And Other Residential Developments Market Size Expected To Change?
The apartments and other residential developments market size has witnessed significant growth in the past few years, from a market size of $85.1 billion in 2024 to an expected growth to $94.28 billion in 2025, showing a robust compound annual growth rate (CAGR) of 10.8%. This rapid expansion in the historic period is attributed to increasing population growth, urbanization, favorable economic conditions, and advancement in infrastructure and transportation developments.
The future of the apartments and other residential developments market looks promising, with a projected market size of $138.2 billion by 2029, reflecting a steady CAGR of 10.0 %. The forecast period’s growth is primarily driven by factors such as the adoption of sustainable and green building practices, increasing demand for diverse housing options, the proliferation of smart city initiatives, and continued urbanization and housing demand.
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What Is Driving The Growth Of The Apartments And Other Residential Developments Market?
The apartments and other residential developments market is significantly driven by the surge in the construction and housing industries. These industries have witnessed exponential growth due to demographic shifts triggered by population growth, urbanization, and economic development. Government data from Stats NZ Tauranga Aotearoa showed a 3.8% increase in building activity in New Zealand in 2022, with residential building activity rising by 3.1%. Moreover, the UK construction industry is expected to witness a 12% growth in 2024, followed by a further increase of 3% in 2025, according to Construction Digital.
What Are The Major Segments In The Apartments And Other Residential Developments Market?
– By Type: Houses And Housing Estate Developments, Apartments, Other Residential Developments
– By Service: Large Chain Companies, Independent Contractors
– By Sales Type: New Construction, Renovation
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Which Are The Leading Players In The Apartments And Other Residential Developments Market?
Prominent companies in the market such as CBRE Group Inc., Brookfield Asset Management, Anywhere Real Estate Inc., Delhi Land & Finance Limited, Simon Property Group LP, New World Development Company Limited, IJM Corporation Berhad, Lennar Corporation, Pultegroup Inc., Raubex Group Limited, Sun Hung Kai Properties Limited, Mill Creek Residential Trust LLC, Trammell Crow Company, JPI Companies, Vinci SA, Greystar Real Estate Partners LLC, AvalonBay Communities Inc., Equity Residential, Bozzuto Group, Essex Property Trust Inc., UDR Inc., Camden Property Trust, Gables Residential Trust, Mid-America Apartment Communities Inc., Cortland Partners LLC, Alliance Residential Company, Lincoln Property Company, Berkshire Residential Investments, Related Companies LP, Apartment Investment and Management Company, BRE Properties Inc. are incorporating strategic initiatives, enhancing their market presence.
What Are The Emerging Trends In The Apartments And Other Residential Developments Market?
A significant trend in the apartments and other residential developments market is the adoption of innovative technologies such as 3D printing by major companies. For instance, ICON, a US-based construction technology company, launched House Zero, a 3D-printed home to offer sustainable design principles, emphasizing energy efficiency, and resilience.
What Are The Regional Developments In The Apartments And Other Residential Developments Market?
Asia-Pacific was the largest region in the apartments and other residential developments market in 2024. The report includes a detailed regional analysis covering Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Apartments And Other Residential Developments Market Report 2025 Offer?
The Apartments and other residential development comprise the development of various residential buildings that provide living accommodations for one or more people. This includes single-family homes, multi-family homes, and apartments. The market research report from The Business Research Company offers the global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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