The Business Research Company’s report on the Residential Real Estate Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the key drivers behind the residential real estate market’s growth in recent years?
Rising demand for residential properties is expected to drive the growth of the residential real estate market going forward. A residential structure consists of one or more rooms with the necessary facilities and utilities to meet a person’s or family’s living needs. The rising demand for residential properties leads to the demand for housing, encourages the construction of high-rise and mixed-use buildings, and opens up opportunities for urban renewal and redevelopment, contributing to the expansion of residential real estate. For instance, in March 2023, according to the United States Census Bureau, a US-based principal agency of the federal statistical system, the number of privately owned housing units approved by building permits in February was 1,524,000 on a seasonally adjusted yearly basis. This is 13.8% more than the January rate, which was corrected to 1,339,000. Therefore, rising demand for residential properties drives the residential real estate market.
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How does the future projection of the residential real estate market size compare to its historical growth?
The residential real estate market size has grown strongly in recent years. It will grow from$10111.21 billion in 2024 to $10629.44 billion in 2025 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to economic stability and growth, interest rates and mortgage accessibility, population growth and urbanization, government policies and incentives, demographic trends
The residential real estate market size is expected to see steady growth in the next few years. It will grow to “$12843.32 billion in 2029 at a compound annual growth rate (CAGR) of 4.8%. The growth in the forecast period can be attributed to low-interest rates, shifts in remote work practices, environmental sustainability, changing household structures. Major trends in the forecast period include affordable housing initiatives, impact of generational preferences, adaptive reuse projects, focus on health and safety features, global market connectivity.
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Which key players are shaping the future of the residential real estate market?
Major companies operating in the residential real estate market include Real Estate Maximums, Sotheby’s International Realty, CBRE Group Inc., Keller Williams Realty Inc., Colliers International, Christie’s International Real Estate, D. R. Hortons Inc., DLF Ltd., IJM Corporation Berhad, Lennar Corporation, Pultegroup Inc., Savills plc, Cushman Wakefield Inc., Anywhere Real Estate Inc., Coldwell Banker Real Estate LLC, The Cadillac Fairview Corporation Limited, Century 21 Real Estate LLC, ERA Real Estate, Better Homes and Gardens Real Estate, Redfin Corporation, Zillow Group Inc., Movoto Real Estate, Compass Inc., Realogy Holdings Corp, Allen Tate Companies, William Raveis Real Estate, John L. Scott Real Estate, Houlihan Lawrence, Douglas Elliman Real Estate
What trends will propel the growth and evolution of the residential real estate market?
The adoption of AI technology is a key trend gaining popularity in the residential real estate market. Companies operating in the residential real estate market are adopting new technologies to sustain their position in the market. For instance, in September 2022, Restb.ai, a Spain-based computer vision provider for real estate, launched MLS Suite for Multiple Listing Services for AI in real estate. The AI-powered tools were created to automate the listing entry process, provide safety for users of IDX and VOW websites, and enrich and boost the value of MLS data. The main solutions offered to MLS are AI tagging, compliance, MLS match, and property descriptions.
Which regions are expected to become dominant players in the residential real estate market?
Asia-Pacific was the largest region in the global residential real estate market size in 2024. The regions covered in the residential real estate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What are the emerging key segments in the residential real estate market, and how are they evolving?
The residential real estate market covered in this report is segmented –
1) By Type: Apartments, Condominiums, Landed Houses, Villas
2) By Pricing: Affordable, Mid-Range, Luxury
3) By Size: Less Than 50 Square Meters, 51 To 80 Square Meters, 81 To 110 Square Meters, 111 To 200 Square Meters, More Than 200 Square Meters
4) By Business: Sales, Rental
5) By Mode: Online, Offline
Subsegments:
1) By Apartments: Studio Apartments, One-Bedroom Apartments, Two-Bedroom Apartments, Three-Bedroom Apartments, Luxury Apartments, Serviced Apartments
2) By Condominiums: High-Rise Condominiums, Mid-Rise Condominiums, Low-Rise Condominiums, Luxury Condominiums, Gated Community Condominiums
3) By Landed Houses: Single-Family Detached Homes, Townhouses, Duplexes, Bungalows, Ranch-Style Houses
4) By Villas: Luxury Villas, Beachfront Villas, Gated Community Villas, Holiday Villas, Eco-Friendly Villas
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What defines the structure and scope of the residential real estate market?
Residential real estate refers to properties intended for personal use, such as houses, apartments, and condominiums. It is used to provide living accommodations for individuals and families, serving as a primary residence.
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