Westford, USA, June 21, 2022 (GLOBE NEWSWIRE) — The real estate market is a critical part of the global economy and it has a huge impact on all aspects of life. That being said, it’s important to know how different markets work in order to make the best decisions for yourself. The residential real estate market includes homes, apartments, condos, and other structures used for residential purposes. This market is driven by interest rates, demand from buyers, and prices. The commercial real estate market is including business buildings like offices, factories, warehouses, and retail stores. Commercial real estate is also driven by interest rates, demand from buyers, and prices. However, commercial real estate also depends on the economic condition of the country. For example, when there’s a recession, more people will sell their commercial properties than during a boom period. Industrial real estate is another important sector of the real estate market. It includes plants and other industrial facilities. Industrial real estate is susceptible to economic cycles like booms and busts. This is because industrial properties are often leased rather than sold.
Residential Properties to Hold the Largest Share of Real Estate Market
The real estate market is predicted to hold the largest share of the global market. According to The National Association of Realtors® (NAR), there were an estimated 10.1 million residential transactions in 2016, more than double the number recorded in 2002 in the US. In addition, as per Urban Outfitters, 2020 emerged as the Year of the Homebuyer” as millennials reach their peak home-buying years and begin to establish families.
There are a few primary reasons for this residential real estate boom. First, more people are moving into urban areas, which is leading to an increase in demand for rental properties and condos. Second, a large number of Baby Boomers are now approaching retirement age, which is resulting in increased demand for single-family homes and townhomes. And finally, many people are investing in real estate as a way to generate supplemental income or gain exposure to different markets.
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Asia Pacific is the Largest and Fastest Growing Real Estate Market
Since the early 2000s, the Asia Pacific region has emerged as the largest and fastest-growing real estate market in the world. This growth has been driven by a number of factors, including population growth, urbanization, and rising incomes. The region is expected to continue to grow at a rapid pace over the next few decades, making it an important destination for real estate investors and developers.
The Asia Pacific region is home to some of the world’s most populous and rapidly growing cities. These cities include Beijing and Shanghai in China, Mumbai and Delhi in India, Tokyo and Seoul in Japan, and Sydney and Melbourne in Australia. Combined, these cities have a population of more than 1 billion people.
As demand for housing increases in these cities, developers are rushing to build new projects. In fact, 2015 was one of the busiest years for real estate development in Asia Pacific. In addition to new projects being built, many existing properties are being refurbished or upgraded. This trend is likely to continue over the next several years as investors seek opportunities to invest in high-growth real estate market.
Lower Interest Rate, High Population Growth and Better Economic Stability are Flourishing the Growth of Real Estate Market
Global real estate market is one of the most important factors driving growth in the economy. It has a big impact on the way people live and work, and it’s also a major source of income for developers and landlords. Here are some of the key factors driving the real estate market:
The growth of the real estate market is flourishing thanks to a number of factors, including lower interest rates, high population growth, and improved economic stability. When these conditions are present, people tend to invest in and purchase more property, which in turn leads to increased demand and prices. Furthermore, low interest rates make it easier for people to borrow money to buy a home, while high population growth means that there are more people looking to buy or lease property. Finally, improved economic stability gives people more confidence in investing in real estate, since they know that their investments will not be impacted by political changes or economic setbacks.
Real estate has always been an expensive investment, but thanks to a low interest rate environment, the global real estate market has blossomed in recent years. This is especially true for rental properties. With tenants wanting to take advantage of low rates, landlords are faced with higher demand and more opportunities to make money.
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Major Restraints in the Global Real Estate Market
- Increasing Interest rates is discouraging people from buying new property as it makes the more expensive to buy often it goes beyond their affordable limit
- Increasing number of housing projects are negatively affecting the prices
- With the increasing demand for raw material, the prices are sky rocketing. For instance, in just two years, the prices of steel increased 100% as compared to 2020
- Covid has negatively impacted supply chain and created demand and supply gap
Key Trends in Global Real Estate Market
- One of the most important trends is the growth of rentals. More and more people are choosing to rent instead of buy, and this is likely due to a number of factors. One reason is that rental prices are often much lower than buying prices, which means that end-user can get a property that’s in great condition without spending a fortune.
- Growth of condo buildings. These types of properties are perfect for people who want financial stability but don’t want to live in an apartment complex. Condo buildings typically have generous amounts of parking, which makes them popular with residents who have multiple cars
- Explosion in homebuyers who are using alternative lenders such as cash-out refinances and home equity loans. These types of loans enable you to buy a property very quickly without having to go through a long mortgage application process.
Top Players in Global Real Estate Market
- Brookfield Asset Management Inc. (Canada)
- American Tower Corporation LLC. (US)
- Prologis Inc. (US)
- Simon Property Group Inc. (US)
- Coldwell Banker Real Estate LLC (US)
- RE/MAX, LLC (US)
- Keller Williams Realty Inc. (US)
- CBRE Group Inc. (US)
- Redfin (US)
- Weichert, Realtors (US)
- Sotheby’s International Realty (US)
- necklaces (Canada)
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