Apartments and Other Residential Developments Market Report 2025

The apartments and other residential developments market size has grown rapidly in recent years. It will grow from $85.1 billion in 2024 to $94.28 billion in 2025 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to growth of population and urbanization, economic conditions and urban job opportunities, changing demographics, government policies and incentives, infrastructure and transportation developments.

The apartments and other residential developments market size is expected to see rapid growth in the next few years. It will grow to $138.2 billion in 2029 at a compound annual growth rate (CAGR) of 10%. The growth in the forecast period can be attributed to sustainable and green building practices, affordability and diverse housing options, smart city initiatives, rising urbanization and housing demand, community and amenities planning. Major trends in the forecast period include flexible living spaces, community engagement and amenities, accessibility and inclusivity, adaptive reuse of spaces, technology-driven property management.

The growth of the construction and housing industries is anticipated to drive the expansion of the apartment and other residential development markets. This surge in construction and housing is attributed to various factors, including population growth, urbanization, and economic development. These demographic changes have led to an uptick in the development of apartments and other residential buildings. For example, in December 2022, Stats NZ Tauranga Aotearoa, a government data agency in New Zealand, reported a 3.8 percent increase in overall building activity, with residential building activity rising by 3.1 percent in 2022. Furthermore, in June 2023, Construction Digital, a UK-based company connecting construction brands, indicated that the construction industry in the UK is expected to grow by 12% in 2024, followed by an additional 3% increase in 2025. Thus, the rise in the construction and housing sectors is propelling the growth of the apartment and other residential development markets.

The upward trajectory in population growth stands as a significant driver propelling the expansion of the apartments and other residential developments market. Population growth, denoting the total number of inhabitants within a defined geographical area at a given time, stimulates a heightened demand for apartments and residential developments. These accommodations offer economic prospects, improved housing accessibility, affordability, and technologically advanced infrastructures conducive to family living. For instance, as of January 2022, the United States Department of Commerce reported a population of 332,403,650 in the US, marking a 0.21% increase from 2021. This escalating population trend underpins the expanding market for apartments and other residential developments, reflecting the burgeoning need for adequate housing solutions amidst population growth.

Major companies in the apartment and other residential development markets are leveraging innovative technologies, such as 3D printing, to maintain their competitive edge. 3D printing involves using additive manufacturing techniques to create three-dimensional structures and items for construction purposes. For example, in March 2022, ICON, a US-based construction technology firm, unveiled House Zero, a 3D-printed home built using their advanced Vulcan construction system, which represents a cutting-edge 3D printing technology. This home combines mid-century modern aesthetics with sustainable design principles, emphasizing energy efficiency and resilience while incorporating advanced materials science.

Prominent companies within the apartments and residential developments sector are concentrating on technological innovations, notably Artificial Intelligence (AI)-enabled virtual apartments, to gain a competitive edge in the market. AI-enabled virtual apartments represent cutting-edge living spaces, offering unique and technologically sophisticated experiences. For instance, in February 2023, RFOX, a metaverse company based in the United Arab Emirates, unveiled AI-enabled virtual apartments. These apartments leverage AI tools to dynamically modify their virtual environment, curating personalized and distinctive surroundings for occupants. Residents have the opportunity to employ OpenAI integrations for personalized assistance and content creation, enhancing their living experiences within these technologically advanced spaces.

In July 2022, Ascott Limited, a Singapore-based real estate investment management firm, completed the acquisition of Oakwood Worldwide for an undisclosed sum. This acquisition significantly broadened Ascott's portfolio by integrating 81 properties and approximately 15,000 units. Oakwood Worldwide, a US-based entity specializing in corporate housing and serviced apartment solutions, brought an array of assets that enriched and diversified Ascott's real estate offerings. This acquisition serves as a strategic expansion, amplifying Ascott Limited's foothold in the market, fortifying its position through the integration of Oakwood's assets and expertise in corporate housing and serviced apartments.

Major companies operating in the apartments and other residential developments market include CBRE Group Inc., Brookfield Asset Management, Anywhere Real Estate Inc., Delhi Land & Finance Limited, Simon Property Group LP, New World Development Company Limited, IJM Corporation Berhad, Lennar Corporation, Pultegroup Inc., Raubex Group Limited, Sun Hung Kai Properties Limited, Mill Creek Residential Trust LLC, Trammell Crow Company, JPI Companies, Vinci SA, Greystar Real Estate Partners LLC, AvalonBay Communities Inc., Equity Residential, Bozzuto Group, Essex Property Trust Inc., UDR Inc., Camden Property Trust, Gables Residential Trust, Mid-America Apartment Communities Inc., Cortland Partners LLC, Alliance Residential Company, Lincoln Property Company, Berkshire Residential Investments, Related Companies LP, Apartment Investment and Management Company, BRE Properties Inc.

Asia-Pacific was the largest region in the apartments and other residential developments market in 2024. The regions covered in the apartments and other residential developments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the apartments and other residential developments market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Apartments and other residential developments encompass the construction and creation of diverse residential buildings designed to provide living spaces for individuals or families. This category includes various housing structures, such as single-family homes, multi-family homes, and apartments, all tailored to accommodate the housing needs of residents.

The primary types of apartments and other residential developments include houses and housing estate developments, apartments, and other housing structures. Houses and housing estate developments involve the construction of individual residences or grouped flat houses with similar designs, typically managed, sold, or leased by a single management company. These services are provided by both large chain companies and independent contractors, with offerings available through various sales channels, including new construction and renovation.

The apartments and other residential developments market research report are one of a series of new reports that provides apartments and other residential developments market statistics, including apartments and other residential developments industry global market size, regional shares, competitors with a apartments and other residential developments market share, detailed apartments and other residential developments market segments, market trends and opportunities, and any further data you may need to thrive in the apartments and other residential developments industry. These apartments and other residential developments market research report deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The apartments and other residential developments market include revenues earned by entities by developing hostels, condominiums, farmhouses, and lodging houses. 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.

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