Real Estate Market Size 2023 To 2032

The Real Estate Rental Global Market Report 2023 by The Business Research Company, provides real estate rental market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Real Estate Rental Global Market Report 2023, the global real estate rental market size will grow from $2,375.91 billion in 2022 to $2,561.84 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of real estate rental market is expected to grow to $3,388.85 billion in 2027 at a CAGR of 7.2%.

The elevated home prices are expected to increase the demand for real estate rental market. Due to the pandemic-induced lockdown and rising interest rates, housing prices are seeing a jump. Real estate rentals provides an alternative accommodation option for people who cannot buy a home, increasing the demand for rental units.

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The real estate rental market is segmented:

1) By Type: Residential Buildings And Dwellings Rental Services, Non-Residential Buildings Rental Services, Mini warehouses And Self-Storage Units Rental Services, Other Rental Services

2) By Mode: Online, Offline

3) By Property Type: Fully Furnished, Semi-Furnished, Unfurnished

Real estate agents are increasingly using new technologies such as online listing, video, and virtual reality (VR), to provide better services to clients and strengthen the buyer-agent relationship. With advancements in technology, the role of real estate agents is shifting from just an information arbitrators to local market experts and service providers. Online real estate listing services such as Zillow and realtor.com provide housing databases and information on tax and purchase history. Technologies such as video, VR tours, and e-signing services also streamline real estate transactions. For instance, in June 2021, Cartus Corporation, a real estate services company based in the United States, launched a new technology-enabled global personnel solution under its Language and Intercultural Solutions business line. The new digital learning environment, as well as Language and Intercultural Solutions, assists employees in traveling and relocating to new locations, as well as coaching them through some of the most critical transitions in their professional and personal

The real estate rental market report table of contents includes: