Global Real Estate Market to Experience Accelerating Demand to Reach USD 6.19 Trillion by 2032 Propelled by Millennial Homeownership Trend, Claims Extrapolate

DUBAI, UAE, April 26, 2023 /PRNewswire/ — According to the recent report published by Extrapolate, the global Real Estate Market size is anticipated to reach USD 6.19 trillion by 2032 at a compound annual growth rate (CAGR) of nearly 5.4% in the foreseeable future, owing to the population explosion and investments in personal household space. The estimation is based on the market sizing of USD 4.06 trillion in 2022.

The expansion of the real estate sector will benefit from the steady economic development anticipated in many developed and developing nations. The International Monetary Fund (IMF) projects that between 2021 to 2023, the actual global GDP will expand by 3.6%. It is also anticipated that recovering commodity prices, which experienced a considerable drop recently, will support the real estate market expansion. Moreover, consistent growth is anticipated in developed economies over the predicted period.

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Trending Now: Europe’s Only Semi-Open-Ended Real Estate Credit Vehicles Fiera European Real Estate Debt Launches

Six months after launching a real estate credit platform focusing on the region, Fiera Real Estate established its first European debt fund, Fiera European Real Estate Debt, on April 25, 2023.

The Canadian investment manager Fiera Capital’s real estate division will create senior-secured, investment-grade real estate loans through the vehicle. In the range of €20 million ($24.95 million; €22.60 million) to ESO million, FERED will focus on core-plus to value-add investments in various industries, including residential, logistics, Grade A office, hotels, and leisure. Before entering some European markets, the vehicle will initially concentrate on the UK market.

The platform currently has £IOO million from two Fiera Capital funds of funds, and it is looking to raise more than €500 million for the fund, which has no hard cap.

Competitive Landscape

A limited fraction of well-established businesses and new entrants define the market. In order to provide clients with better products and services and support the development of the real estate market, major companies in the sector have embraced business expansion, partnerships, and acquisition as their primary growth strategies.

Prominent players in the real estate industry include Brookfield Asset Management, China Poly Group Corporation, China Vanke Co. Ltd, ATC IP LLC, Prologis, Inc., Crown Castle, Mitsui Fudosan Co., Ltd., CK Asset Holdings Limited, Sun Hung Kai Properties Limited, Vonovia SE, Emaar Properties amongst others.

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Market Segmentation by Property:

  • Residential
  • Commercial
  • Industrial

Growing Homeownership Trend Amongst Millennials to Drive Segmental Development

Residential real estate led the global market size in 2022 with a 36.24% share, and it is expected to hold that position going forward. For instance, the homeownership rate for Millennials in the US is 48.6 percent, which is about 30 percentage points lower than the rate for Baby Boomers and more than 20 points lower than the rate for Gen X as per the census.

Market Segmentation by Revenue:

  • Sales
  • Rental
  • Lease

The proliferation of Renting Segment to Dominate Owing to High Property Pricing

In 2022, the rental sector contributed more than 53.86% of market income, and it is expected to continue to dominate in the years to come. This results from growing housing costs in industrialized nations, which has increased renters and favored segment development. For instance, a blog by Mansion Global claims that in 2021, around 60% of the residences in Germany were rented.

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Digital Real Estate Services to Streamline Demand Supply Chain Across Globe

The exposure of consumers to online real estate services has expanded due to the internet’s growing influence. Major players provide a range of services to increase their market share, including live-streaming facilities. For instance, according to Alibaba, more than 5,000 real estate agencies in China have embraced live-streaming the house, enabling buyers to browse properties and close purchases from the comfort of their homes.

Also, the real estate market has experienced significant growth over the past 10 years as a result of an increase in the number of land-related real estate transactions occurring in commercial, industrial, and residential developments around the world.

Additionally, governments in a number of other countries, such as Poland, the United States of America, and Canada, provide incentives to buyers through initiatives like the Golden Visa and programs for affordable housing, propelling the real estate market growth directly.

Favorable Governmental Policies to Encourage Homeownership in Asia Pacific

Asia Pacific held the largest real estate market share in 2022. The increasing commercial construction activity in emerging countries is primarily accountable for this large market share. In addition, India has experienced positive residential sector growth due to encouraging subsidies and favorable government policies for purchasing new homes.

Growing Popularity of Crowdfunding Platforms to Accelerate Real Estate Consumption

Throughout the anticipated period, North America is also anticipated to grow significantly. This is a consequence of crowdfunding platforms becoming more well-known and popular in the region. Additionally, it is anticipated that the growing interest among non-institutional investors in crowdfunding platforms would contribute to the market’s expansion in the US due to the industry’s favorable legal framework and high expected returns. Furthermore, it is projected that the presence of major, top-tier institutional investors in North America will fuel the real estate market expansion.

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Table of Content

Chapter 1. Executive Summary

Chapter 2. Research Methodology

Chapter 3. Market Outlook

Chapter 4. COVID-19 Impact on Real Estate Market

Chapter 5. Global Real Estate Market Overview, By Property, 2018 – 2032 (USD Million)

Chapter 6. Global Real Estate Market Overview, By Revenue, 2018 – 2032 (USD Million)

Chapter 7. Global Real Estate Market Overview, By Type, 2018 – 2032 (USD Million)

Chapter 8. Global Real Estate Market Overview, By Geography, 2018 – 2032 (USD Million)

Chapter 9. North America Real Estate Market Overview, By Countries, 2018 – 2032 (USD Million)

Chapter 14. Competitive Landscape

Chapter 15. Key Vendor Analysis

Chapter 16. Sourcing Strategy and Downstream Buyers

Chapter 17. Marketing Strategy Analysis, Distributors/Traders

…TOC Continued

About Us:

Extrapolate is a Global Market Research, Advisory, and Consulting firm that works closely with industry experts from various industries to bring the latest and most accurate research reports.

In an era of breakneck change and a low tolerance for missed or misread opportunities, businesses need astute guidance to shape markets – not merely respond to them. Extrapolate helps clients develop market perspectives that drive success.

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