The Business Research Company’s Real Estate Global Market Report 2021: COVID-19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, May 11, 2021 /EINPresswire.com/ — Gen Z (born between mid-1990s and early 2000s) are the next generation renters after the millennials and they are predicted to spend more than any other generations on rental services in their lifetime. Gen Z is highly dependent on technology and relies more on the internet and social media to make purchasing and lifestyle decisions. Since Gen Z has experienced technology their entire lives, leasing and marketing campaigns for real estate rental services should incorporate the use of technology to reach this generation where they are most active such as on apps, on social media or any other internet source. Such real estate market trends will help drive the market. Gen Z make up almost one-quarter of the population, therefore, the real estate rental services market is expected to witness growth from this generation in the five years following 2019.
Asia Pacific is the largest region in the global real estate market, accounting for 40% of the market in 2020. Western Europe is the second largest region, accounting for 24% of the global market. Africa was the smallest region in the global real estate market.
The real estate market consists of sales of real estate services by entities (organizations, sole traders and partnerships) that rent, lease and allow the use of buildings and/or land. The industry also includes managing real estate for others, selling, renting and buying real estate for others and appraising real estate.
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The global real estate market is expected to grow from $2687.5 billion in 2020 to $2774.5 billion in 2021 at a compound annual growth rate (CAGR) of 3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $3717.3 billion in 2025 at a CAGR of 8%.
The real estate market analysis report is segmented by type into real estate rental, real estate agency and brokerage and by mode into online, offline.
Subsegments covered are residential buildings and dwellings rental services, non-residential buildings rental services, mini warehouses and self-storage units rental services, other rental services, residential buildings and dwellings brokers, non-residential buildings brokers, mini warehouses and self-storage units brokers, other brokers.
Major companies in the rental housing market and property market include CBRE Group, Jones Lang LaSalle Inc, New World Development Company Limited, Colliers International, Newmark Grubb Knight Frank.
Real Estate Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides real estate market overview, forecast real estate market size and growth for the whole market, real estate market segments, and geographies, real estate market trends, real estate market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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Here Is A List Of Similar Reports By The Business Research Company:
Real Estate Rental Global Market Report 2021: COVID-19 Impact and Recovery to 2030
Real Estate Agency and Brokerage Global Market Report 2021: COVID-19 Impact and Recovery to 2030
Leasing Global Market Report 2021: COVID-19 Impact and Recovery to 2030
Commercial Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030
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Source: EIN Presswire