Real Estate Rental Market 2024 | Market Size, Key Drivers, Industry Developments, Share, Future Growth Prospects and Forecast To 2033

Overview and Scope
Real estate rental refers to properties used as dwellings or provided on rent to rental occupants, or tenants, for temporary use by the property owners. The rent of goods or services is governed by a rental agreement or contract between an owner of a product and an end-user where payment is made by the end user for the temporary use of the product.

Sizing and Forecast
The real estate rental market size has grown strongly in recent years. It will grow from $2601.92 billion in 2023 to $2806.83 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%.  The  growth in the historic period can be attributed to consumer confidence, economic conditions, interest rates, consumer preferences, global events.

The real estate rental market size is expected to see strong growth in the next few years. It will grow to $3749.95 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%.  The growth in the forecast period can be attributed to growing sustainability and green practices, remote work trends, affordability challenges, government policies, global events and health factors. Major trends in the forecast period include remote work impact, technology integration, sustainability and energy efficiency, flexible lease terms, affordable housing initiatives, health and safety concerns.

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Segmentation & Regional Insights

The real estate rental market covered in this report 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

Asia-Pacific was the largest region in the real estate rental market in 2023. North America was the second-largest region in the real estate rental market. The regions covered in the real estate rental 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
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 provide an alternative accommodation option for people who cannot buy a home, increasing the demand for rental units. For example, in 2022, in India, Delhi- National Capital Region (NCR) saw the highest increase in residential prices at 10% year-on-year (YoY), followed by Ahmedabad and Hyderabad with 9% and 8% YoY increase, respectively from 2021. Therefore, the elevated home prices are expected to contribute to the demand for real estate rental market.

Key Industry Players
Major companies operating in the real estate rental market report are Brookfield Asset Management, CBRE Group Inc., Leopalace21 Corporation, Xiamen C&D, Mitsui Fudosan Co. Ltd., American Tower Corporation, Weyerhaeuser Company, Sun Hung Kai Properties Limited, Equinix Inc. (REIT), Prologis Inc., Simon Property Group Inc., Host Hotels & Resorts Inc., Digital Realty Trust Inc, Public Storage, Daito Trust Construction Co. Ltd., Americold Realty Trust, Equity Residential, SBA Communications Corporation, AvalonBay Communities Inc., Alexandria Real Estate Equities Inc., CapitaLand Limited, Healthpeak Properties Inc., UDR Inc., Camden Property Trust, Regency Centers Corporation, CyrusOne Inc., Federal Realty Investment Trust, STORE Capital Corporation, Rexford Industrial Realty Inc., Crown Castle International Corp. (REIT), Duke Realty Corporation, Essex Property Trust Inc., Highwoods Properties Inc.

The real estate rental market report table of contents includes:
1. Executive Summary
2. Real Estate Rental Market Characteristics
3. Real Estate Rental Product/Service Analysis -Product/Service Examples
4. Real Estate Rental Market Trends And Strategies
5. Real Estate Rental Market – Macro Economic Scenario
………………………
68. Global Real Estate Rental Market Competitive Benchmarking
69. Global Real Estate Rental Market Competitive Dashboard
70. Key Mergers And Acquisitions In The Real Estate Rental Market
71. Real Estate Rental Market Future Outlook and Potential Analysis
72. Appendix

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