Residential Real Estate Global Market Report 2024

The residential real estate market has grown strongly in recent years. It will grow from $9608.7 billion in 2023 to $10111.21 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. During the historical period, the expansion can be ascribed to factors such as economic stability and growth, accessibility of mortgage loans and interest rates, population growth and urbanization, government policies, and incentives, as well as demographic trends.

The residential real estate market is expected to see steady growth in the next few years. It will grow to $12168.78 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. Anticipated growth in the forecast period can be linked to several factors, including low-interest rates, the evolution of remote work practices, a heightened emphasis on environmental sustainability, and shifts in household structures. Key trends expected during this period encompass affordable housing initiatives, the influence of generational preferences, adaptive reuse projects, a heightened focus on health and safety features, and increased global market connectivity.

The anticipated growth in the residential real estate market is primarily fueled by the increasing demand for residential properties. Residential structures, designed to meet the living needs of individuals or families, are witnessing a surge in demand, prompting the construction of high-rise and mixed-use buildings. This uptick in demand not only fuels housing needs but also creates opportunities for urban renewal and redevelopment, thereby contributing to the overall expansion of the residential real estate sector. For instance, in March 2023, the United States Census Bureau reported a significant year-over-year increase of 13.8% in the number of privately owned housing units approved by building permits, reaching 1,524,000 on a seasonally adjusted basis.

The growth of the residential real estate market is the rising number of nuclear families. Characterized by both parents and their children living together in a single household, nuclear families are becoming more prevalent. This demographic shift is translating into an increased demand for residential houses, further propelling the residential real estate market. In June 2023, the Australian Bureau of Statistics noted a notable increase of 1.0 million families in the past decade, reaching a total of 7.5 million, with families comprising two working partners experiencing a 1.9% rise. This trend underscores the role of growing nuclear families in driving the expansion of the residential real estate market.

The residential real estate market is witnessing a notable trend with the increasing adoption of AI technology by companies operating in this sector. In September 2022, Restb.ai, a Spain-based computer vision provider for real estate, introduced the MLS Suite for Multiple Listing Services, incorporating AI-powered tools to automate listing entry processes, enhance user safety on IDX and VOW websites, and augment the value of MLS data. The suite offers solutions such as AI tagging, compliance, MLS match, and property descriptions.

Strategic partnerships are becoming a prevalent approach among major companies in the residential real estate market to establish new rental apartment neighborhoods. Equity Residential, a US-based company specializing in residential rental building procurement and construction, entered into a partnership with Toll Brothers, Inc. in August 2021. This collaboration focuses on the targeted acquisition and development of apartment community sites in six metro markets, with Equity Residential contributing 75% of the capital for each selected property over the next three years, and Toll Brothers investing 25%. The projects are anticipated to have a 60% leverage ratio during financing, and Equity Residential will have the option to purchase each property after stabilization.

In March 2023, The Cadillac Fairview Corporation Limited, a Canada-based real estate company, made a strategic move by acquiring Lincoln Residential, a US-based real estate development and management company specializing in multifamily residential properties. This acquisition allows Cadillac Fairview Corporation to expand its presence in residential real estate, increase market share, and enhance its customer offerings. The specific terms and amount of the acquisition remain undisclosed.

Major companies operating in the residential real estate market report are Real Estate Maximums, Sotheby’s International Realty, CBRE Group Inc., Keller Williams Realty Inc., Colliers International, Christie's International Real Estate, D. R. Hortons Inc., DLF Ltd., IJM Corporation Berhad, Lennar Corporation, Pultegroup Inc., Savills plc, American Tower Corporation, Cushman Wakefield Inc., Anywhere Real Estate Inc., Prologis Inc., Simon Property Group Inc., Coldwell Banker Real Estate LLC, The Cadillac Fairview Corporation Limited, Century 21 Real Estate LLC, ERA Real Estate, Better Homes and Gardens Real Estate, Redfin Corporation, Zillow Group Inc., Movoto Real Estate, Compass Inc., Realogy Holdings Corp, Allen Tate Companies, William Raveis Real Estate, John L. Scott Real Estate, Houlihan Lawrence, Douglas Elliman Real Estate.

Asia-Pacific was the largest region in the global residential real estate market size in 2023. The regions covered in the residential real estate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the residential real estate market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of residential real estate comprise apartments, condominiums, landed houses, and villas. Apartments represent individual units within a larger building or complex, typically owned by a single entity or a property management company. Pricing options range from affordable to mid-range and luxury, with unit sizes categorized as less than 50 square meters, 51 to 80 square meters, 81 to 110 square meters, 111 to 200 square meters, and more than 200 square meters. Sales and rental are the core business activities, facilitated through various channels, including online and offline platforms.

The residential real estate market research report provides residential real estate market statistics, including the residential real estate industry global market size, regional shares, competitors with a residential real estate market share, detailed residential real estate market segments, market trends and opportunities, and any further data you may need to thrive in the residential real estate industry. This residential real estate market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The residential real estate market includes revenues earned by entities by constructing properties, rental income, and vacation rentals. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.