The global affordable housing market was valued at $52,160.2 million in 2021, and is projected to reach $84,700 million by 2031, registering a CAGR of 4.9% from 2022 to 2031. Depending on the nation and the location, affordable housing may change. The term "affordable housing" refers to housing that is accessible to those in society who earn less than the median household income. Affordable housing is described as being "generally acceptable in standard and location for lower or middle income households and does not cost so much that a household is unlikely to be able to meet other basic necessities on a sustainable basis." During the projected period, the market for affordable housing is projected to grow remarkably quickly. The market for affordable homes is being driven by the rise in middle class and increase in working population.
Due to this, there has been a substantial migration of migrants, especially in Tier 1 cities. These migrants are relocating for employment and educational opportunities. This is anticipated to enhance market expansion over the anticipated time frame. During the projection period, the simplicity of obtaining mortgage financing is projected to drive market expansion. In addition, it is projected that the Indian government's initiative to provide housing for everyone by FY2023 will create lucrative opportunities for market growth. This gained traction when the union government declared in the FY2022 Budget that the option to deduct additional interest expenditures up to Rs. 1.50 lakh paid on loans for affordable housing would be extended by one year until March 31, FY2023. These governmental initiatives are what are fueling the market for affordable homes.
The demand for affordable housing is being driven by the rapid urbanization of emerging economies, where the bulk of the population is concentrated in countries like Brazil, China, India, and Eastern European countries. Developing countries create the demand for affordable housing driving the growth of the market. Moreover, all large cities in developed countries have reached a point of saturation where the growth of the urban area and the economy has either stopped or is growing at a very slow rate. For instance, the residential real estate market in the U. S. has seen a decline in the sale of affordable housing and residential properties in significant cities like Washington, D. C., as a result of an increase in property values and a decrease in investments by foreign investors. Such instances restrain the market growth during the forecast period.
The expansion of government programs for affordable housing and cooperation among major market participants is projected to offer attractive opportunities. Surge in collaborations across Europe also suggest that the region's market for affordable housing has a promising future. For instance, the European Affordable Housing Consortium for Sustainable Housing and Social Impact launched the SHAPE-EU initiative in March 2022. The global affordable housing market is segmented on the basis of providers, size of unit and location, and region. Based on providers, the market is divided into government, and public-private partnership. Based on size of unit, the market is divided into up to 400 square feet, 400-800 square feet, and above 800 square feet. Based on location, the market is divided into urban and rural. The major players profiled in the affordable housing market include Dominium, Jonathan rose cos, Larsen & Toubro Ltd., LDG Development, TATA Projects, The NRP Group, Pennrose, Prestige Group, Related Group, and Skanska. Major companies in the market have adopted acquisition, partnership and business expansion as their key developmental strategies to offer better products and services to customers in the affordable housing market.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the affordable housing market analysis from 2021 to 2031 to identify the prevailing affordable housing market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the affordable housing market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global affordable housing market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Providers
- Government
- Public-Private Partnership
By Size of Unit
- Upto 400 square feet
- 400-800 square feet
- Above 800 square feet
By Location
- Urban
- Rural
By Region
- North America
- U. S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Prestige group
- Dominium
- LDG Development
- Pennrose
- Tata projects
- Skanska AB
- Related Group
- Jonathan Rose Companies LLC
- The NRP Group
- Larsen & Toubro Ltd.
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Table of Contents
CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market
CHAPTER 4: AFFORDABLE HOUSING MARKET, BY PROVIDERS
4.1 Overview
4.1.1 Market size and forecast
4.2 Government
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market share analysis by country
4.3 Public-Private Partnership
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market share analysis by country
CHAPTER 5: AFFORDABLE HOUSING MARKET, BY SIZE OF UNIT
5.1 Overview
5.1.1 Market size and forecast
5.2 Upto 400 square feet
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market share analysis by country
5.3 400-800 square feet
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market share analysis by country
5.4 Above 800 square feet
5.4.1 Key market trends, growth factors and opportunities
5.4.2 Market size and forecast, by region
5.4.3 Market share analysis by country
CHAPTER 6: AFFORDABLE HOUSING MARKET, BY LOCATION
6.1 Overview
6.1.1 Market size and forecast
6.2 Urban
6.2.1 Key market trends, growth factors and opportunities
6.2.2 Market size and forecast, by region
6.2.3 Market share analysis by country
6.3 Rural
6.3.1 Key market trends, growth factors and opportunities
6.3.2 Market size and forecast, by region
6.3.3 Market share analysis by country
CHAPTER 7: AFFORDABLE HOUSING MARKET, BY REGION
7.1 Overview
7.1.1 Market size and forecast
7.2 North America
7.2.1 Key trends and opportunities
7.2.2 North America Market size and forecast, by Providers
7.2.3 North America Market size and forecast, by Size of Unit
7.2.4 North America Market size and forecast, by Location
7.2.5 North America Market size and forecast, by country
7.2.5.1 U.S.
7.2.5.1.1 Key market trends, growth factors and opportunities
7.2.5.1.2 Market size and forecast, by Providers
7.2.5.1.3 Market size and forecast, by Size of Unit
7.2.5.1.4 Market size and forecast, by Location
7.2.5.2 Canada
7.2.5.2.1 Key market trends, growth factors and opportunities
7.2.5.2.2 Market size and forecast, by Providers
7.2.5.2.3 Market size and forecast, by Size of Unit
7.2.5.2.4 Market size and forecast, by Location
7.2.5.3 Mexico
7.2.5.3.1 Key market trends, growth factors and opportunities
7.2.5.3.2 Market size and forecast, by Providers
7.2.5.3.3 Market size and forecast, by Size of Unit
7.2.5.3.4 Market size and forecast, by Location
7.3 Europe
7.3.1 Key trends and opportunities
7.3.2 Europe Market size and forecast, by Providers
7.3.3 Europe Market size and forecast, by Size of Unit
7.3.4 Europe Market size and forecast, by Location
7.3.5 Europe Market size and forecast, by country
7.3.5.1 Germany
7.3.5.1.1 Key market trends, growth factors and opportunities
7.3.5.1.2 Market size and forecast, by Providers
7.3.5.1.3 Market size and forecast, by Size of Unit
7.3.5.1.4 Market size and forecast, by Location
7.3.5.2 UK
7.3.5.2.1 Key market trends, growth factors and opportunities
7.3.5.2.2 Market size and forecast, by Providers
7.3.5.2.3 Market size and forecast, by Size of Unit
7.3.5.2.4 Market size and forecast, by Location
7.3.5.3 France
7.3.5.3.1 Key market trends, growth factors and opportunities
7.3.5.3.2 Market size and forecast, by Providers
7.3.5.3.3 Market size and forecast, by Size of Unit
7.3.5.3.4 Market size and forecast, by Location
7.3.5.4 Italy
7.3.5.4.1 Key market trends, growth factors and opportunities
7.3.5.4.2 Market size and forecast, by Providers
7.3.5.4.3 Market size and forecast, by Size of Unit
7.3.5.4.4 Market size and forecast, by Location
7.3.5.5 Rest of Europe
7.3.5.5.1 Key market trends, growth factors and opportunities
7.3.5.5.2 Market size and forecast, by Providers
7.3.5.5.3 Market size and forecast, by Size of Unit
7.3.5.5.4 Market size and forecast, by Location
7.4 Asia-Pacific
7.4.1 Key trends and opportunities
7.4.2 Asia-Pacific Market size and forecast, by Providers
7.4.3 Asia-Pacific Market size and forecast, by Size of Unit
7.4.4 Asia-Pacific Market size and forecast, by Location
7.4.5 Asia-Pacific Market size and forecast, by country
7.4.5.1 China
7.4.5.1.1 Key market trends, growth factors and opportunities
7.4.5.1.2 Market size and forecast, by Providers
7.4.5.1.3 Market size and forecast, by Size of Unit
7.4.5.1.4 Market size and forecast, by Location
7.4.5.2 Japan
7.4.5.2.1 Key market trends, growth factors and opportunities
7.4.5.2.2 Market size and forecast, by Providers
7.4.5.2.3 Market size and forecast, by Size of Unit
7.4.5.2.4 Market size and forecast, by Location
7.4.5.3 South Korea
7.4.5.3.1 Key market trends, growth factors and opportunities
7.4.5.3.2 Market size and forecast, by Providers
7.4.5.3.3 Market size and forecast, by Size of Unit
7.4.5.3.4 Market size and forecast, by Location
7.4.5.4 India
7.4.5.4.1 Key market trends, growth factors and opportunities
7.4.5.4.2 Market size and forecast, by Providers
7.4.5.4.3 Market size and forecast, by Size of Unit
7.4.5.4.4 Market size and forecast, by Location
7.4.5.5 Rest of Asia-Pacific
7.4.5.5.1 Key market trends, growth factors and opportunities
7.4.5.5.2 Market size and forecast, by Providers
7.4.5.5.3 Market size and forecast, by Size of Unit
7.4.5.5.4 Market size and forecast, by Location
7.5 LAMEA
7.5.1 Key trends and opportunities
7.5.2 LAMEA Market size and forecast, by Providers
7.5.3 LAMEA Market size and forecast, by Size of Unit
7.5.4 LAMEA Market size and forecast, by Location
7.5.5 LAMEA Market size and forecast, by country
7.5.5.1 Latin America
7.5.5.1.1 Key market trends, growth factors and opportunities
7.5.5.1.2 Market size and forecast, by Providers
7.5.5.1.3 Market size and forecast, by Size of Unit
7.5.5.1.4 Market size and forecast, by Location
7.5.5.2 Middle East
7.5.5.2.1 Key market trends, growth factors and opportunities
7.5.5.2.2 Market size and forecast, by Providers
7.5.5.2.3 Market size and forecast, by Size of Unit
7.5.5.2.4 Market size and forecast, by Location
7.5.5.3 Africa
7.5.5.3.1 Key market trends, growth factors and opportunities
7.5.5.3.2 Market size and forecast, by Providers
7.5.5.3.3 Market size and forecast, by Size of Unit
7.5.5.3.4 Market size and forecast, by Location
CHAPTER 8: COMPANY LANDSCAPE
8.1. Introduction
8.2. Top winning strategies
8.3. Product Mapping of Top 10 Players
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Key developments
CHAPTER 9: COMPANY PROFILES
9.1 Prestige group
9.1.1 Company overview
9.1.2 Company snapshot
9.1.3 Operating business segments
9.1.4 Product portfolio
9.1.5 Business performance
9.1.6 Key strategic moves and developments
9.2 Dominium
9.2.1 Company overview
9.2.2 Company snapshot
9.2.3 Operating business segments
9.2.4 Product portfolio
9.2.5 Business performance
9.2.6 Key strategic moves and developments
9.3 LDG Development
9.3.1 Company overview
9.3.2 Company snapshot
9.3.3 Operating business segments
9.3.4 Product portfolio
9.3.5 Business performance
9.3.6 Key strategic moves and developments
9.4 Pennrose
9.4.1 Company overview
9.4.2 Company snapshot
9.4.3 Operating business segments
9.4.4 Product portfolio
9.4.5 Business performance
9.4.6 Key strategic moves and developments
9.5 tata projects
9.5.1 Company overview
9.5.2 Company snapshot
9.5.3 Operating business segments
9.5.4 Product portfolio
9.5.5 Business performance
9.5.6 Key strategic moves and developments
9.6 The NRP Group
9.6.1 Company overview
9.6.2 Company snapshot
9.6.3 Operating business segments
9.6.4 Product portfolio
9.6.5 Business performance
9.6.6 Key strategic moves and developments
9.7 Larsen & Toubro Ltd.
9.7.1 Company overview
9.7.2 Company snapshot
9.7.3 Operating business segments
9.7.4 Product portfolio
9.7.5 Business performance
9.7.6 Key strategic moves and developments
9.8 Jonathan Rose Companies LLC
9.8.1 Company overview
9.8.2 Company snapshot
9.8.3 Operating business segments
9.8.4 Product portfolio
9.8.5 Business performance
9.8.6 Key strategic moves and developments
9.9 Skanska AB
9.9.1 Company overview
9.9.2 Company snapshot
9.9.3 Operating business segments
9.9.4 Product portfolio
9.9.5 Business performance
9.9.6 Key strategic moves and developments
9.10 Related Group
9.10.1 Company overview
9.10.2 Company snapshot
9.10.3 Operating business segments
9.10.4 Product portfolio
9.10.5 Business performance
9.10.6 Key strategic moves and developments
Executive Summary
The affordable housing market is likely to experience a significant growth rate of 5.4% from 2022-2031 owing to increasing market demand from manufacturing sector.According to this report, titled, 'Affordable Housing Market,' the affordable housing market was valued at $52.2 billion in 2021, and is estimated to reach $84.7 billion by 2031, growing at a CAGR of 4.9% from 2022 to 2031. Depending on the nation and the location, affordable housing may change. The term 'affordable housing' refers to housing that is accessible to those in society who earn less than the median household income. Affordable housing is described as being 'generally acceptable in standard and location for lower or middle income households and does not cost so much that a household is unlikely to be able to meet other basic necessities on a sustainable basis.' During the projected period, the market for affordable housing is projected to grow remarkably quickly. The market for affordable homes is being driven by the rise in middle class and increase in working population. Affordable housing is defined as housing that is sufficiently adequate in terms of standard and location for lower or middle income households and does not cost so much that a household is unlikely to be able to meet other basic necessities on a long-term basis. Affordable housing are referred to housing units that are affordable by that section of society whose income is below the median household income. The market for affordable housing is driven by a growing middle class and increasing workforce. This has led to a significant increase in migrant movements, especially in Tier 1 cities. These immigrants move in search of employment and educational opportunities. This is expected to facilitate market expansion in the expected time frame.
Due to this, there has been a substantial migration of migrants, especially in Tier 1 cities. These migrants are relocating for employment and educational opportunities. This is anticipated to enhance market expansion over the anticipated time frame. During the projection period, the simplicity of obtaining mortgage financing is projected to drive market expansion. The expansion of state programs for affordable housing and the cooperation of key market players presents an attractive opportunity. Growing cooperation across Europe also suggests that the affordable housing market has a bright future in the region.
The demand for affordable housing is being driven by the rapid urbanization of emerging economies, where the bulk of the population is concentrated in countries like Brazil, China, India, and Eastern European countries. Developing countries create the demand for affordable housing driving the growth of the market. Moreover, all large cities in developed countries have reached a point of saturation where the growth of the urban area and the economy has either stopped or is growing at a very slow rate. For instance, the residential real estate market in the U.S. has seen a decline in the sale of affordable housing and residential properties in significant cities like Washington, D.C., as a result of an increase in property values and a decrease in investments by foreign investors. Such instances restrain the market growth during the forecast period.
Key Market Insights
By provider, the public-private partnership segment was the highest revenue contributor to the market and is estimated to reach $46,844.3 million by 2031, with a CAGR of 4.5%. However, the government segment is estimated to be the fastest-growing segment with a CAGR of 5.2% during the forecast period.By size of unit, the above 800 square feet segment dominated the global market. However, the 400-800 square feet segment is expected to be the fastest-growing segment with a CAGR of 5.7% during the forecast period.
Based on location, the urban segment was the highest revenue contributor to the market with a CAGR of 4.6% during the forecast period.
Based on region, Asia-Pacific garnered the largest revenue share in the market, whereas LAMEA is anticipated to grow at the highest CAGR of 8.5% during the forecast period
Companies Mentioned
- Prestige Group
- Dominium
- LDG Development
- Pennrose
- Tata Projects
- Skanska Ab
- Related Group
- Jonathan Rose Companies LLC
- The NRP Group
- Larsen & Toubro Ltd.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 210 |
Published | November 2022 |
Forecast Period | 2021 - 2031 |
Estimated Market Value ( USD | $ 52160.2 million |
Forecasted Market Value ( USD | $ 84700 million |
Compound Annual Growth Rate | 5.0% |
Regions Covered | Global |
No. of Companies Mentioned | 10 |