Overview and Scope
The houses and housing estate developments refer to a planned residential development that involves acquiring land, obtaining necessary approvals and permits, designing, constructing, marketing, and selling housing estate properties. It is used for constructing buildings and other structures and dividing land into sections in order to develop real estate for sale.
Sizing and Forecast
The houses and housing estate developments market size has grown strongly in recent years. It will grow from $72.76 billion in 2023 to $78.82 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to urbanization and population growth, economic growth and consumer confidence, government policies and incentives, interest rates and mortgage affordability, infrastructure development and accessibility..
The houses and housing estate developments market size is expected to see strong growth in the next few years. It will grow to $108.56 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to changing demographics and lifestyle preferences, sustainability and green building practices, technological integration in smart homes, affordable housing initiatives, urban planning and mixed-use developments.. Major trends in the forecast period include implementation of virtual reality (vr) for property viewing, adoption of modular and prefabricated construction, rise of co-living and co-housing concepts, integration of 5g technology..
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Segmentation & Regional Insights
The houses and housing estate developments market covered in this report is segmented –
1) By Types: Condominiums, Villas, Other Types
2) By Property: Residential, Commercial, Industrial, Land, Other Properties
3) By Building Type: Smart Buildings, Traditional Buildings
4) By Construction Type: New Construction, Renovation
5) By End User: Private, Public
Asia-Pacific was the largest region in the houses and housing estate developments market in 2023. The regions covered in the houses and housing estate developments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Rising urbanization is expected to propel the growth of the houses and housing estate developments market going forward. Urbanization is the process of people moving from rural areas to cities or urban areas in search of better economic opportunities, social amenities, and quality of life. The progress of the urbanization is creating huge demand for infrastructure development including real estate development, leading to the growth of houses and housing estate developments market. For instance, in October 2022, according to The World Bank, a US-based international financial institution, around 4.4 billion people, or 56% of the world’s population, presently reside in cities. By 2030, the world is predicted to have 1.2 million km² more of urban built-up area because urban land consumption is expected to continue to expand at a rate that is up to 50% faster than population growth. Therefore, rising urbanization is anticipated to fuel the houses and housing estate developments market.
Key Industry Players
Major companies operating in the houses and housing estate developments market are focused on digital transformation to strengthen their position in the market. Digital transformation in the real estate industry refers to the integration of technology and digital solutions to streamline processes, enhance customer experiences, and improve efficiency across various aspects of real estate operations. For example, in September 2022, Ernst & Young Transactions Limited (EY), a UK based professional services company, and the Urban Land Institute (ULI), an US-based nonprofit research and education organization, have co-developed the “GBA prop-tech white paper” (the white paper) around the theme of technology innovation and digital transformation of the real estate industry in the Guangdong-Hong Kong-Macau Greater Bay Area (GBA). This white paper addresses the current status and future opportunities of the prop-tech industry in the GBA. With a hope to inform traditional real estate participants in their efforts to meet the needs of the inventory era by undergoing digital transformation.
The houses and housing estate developments market report table of contents includes:
1. Executive Summary
2. Houses And Housing Estate Developments Market Characteristics
3. Houses And Housing Estate Developments Market Trends And Strategies
4. Houses And Housing Estate Developments Market – Macro Economic Scenario
5. Global Houses And Housing Estate Developments Market Size and Growth
….
31. Global Houses And Housing Estate Developments Market Competitive Benchmarking
32. Global Houses And Housing Estate Developments Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Houses And Housing Estate Developments Market
34. Houses And Housing Estate Developments Market Future Outlook and Potential Analysis
35. Appendix
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