Dublin, June 01, 2023 (GLOBE NEWSWIRE) -- The "Apartments And Other Residential Developments Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the market.
The global apartments and other residential developments market is expected to grow from $64.55 billion in 2022 to $72.77 billion in 2023 at a compound annual growth rate (CAGR) of 12.7%. The apartments and other residential developments market is expected to reach $113.91 billion in 2027 at a CAGR of 11.9%.
Major players in the apartments and other residential developments market are CBRE Group Inc., Brookfield Asset Management, Anywhere Real Estate Inc., Delhi Land & Finance (DLF Limited), Simon Property Group L.P., New World Development Company Limited, IJM Corporation Berhad, Lennar Corporation, Pultegroup Inc., Raubex Group Limited, Sun Hung Kai Properties Limited, Mill Creek Residential, Trammell Crow Residential, JPI Companies, and Vinci SA.
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Apartments and other residential development are referred to as the development of various residential buildings that provide living accommodations for one or more people. Apartments are other residential buildings that typically contain separate living units for multiple families or individuals. Single-family homes, multi-family homes, and apartments are all included in this category.
The main types of apartments and other residential developments are houses and housing estate developments, apartments, and others. Houses and housing estate developments refer to a collection of individual residences or flat houses of similar design that are typically built, sold, or leased by a single management company. These services are offered by large chain companies and independent contractors. These services are sold through various sales types such as new construction, and renovation.
Technological advancements are a key trend gaining popularity in the apartment and other residential development markets. Companies operating in the apartment and other residential developments market are adopting new technologies, such as 3D printing, to sustain their position in the market. 3D printing refers to the use of additive manufacturing techniques to generate three-dimensional items and structures for building applications.
For instance, in April 2021, Tvasta Manufacturing Solutions Pvt. Ltd., an Indian-based construction company, launched India's first 3D-printed house. Tvasta's 'Concrete 3D Printing' is an automated manufacturing technique to create three-dimensional real-life structures. This method saves 30% on construction costs and has several advantages, including a reduction in overall construction costs by order of magnitude, a reduction in construction time, a reduction in associated carbon footprint, an increase in productivity, and the use of environmentally friendly materials.
In July 2022, Ascott Limited, a Singapore-based real estate investment management company, acquired Oakwood Worldwide for an undisclosed amount. This acquisition expanded, diversified, and enriched Ascott's portfolio by 81 properties and approximately 15,000 units. Oakwood Worldwide is a US-based company that provides corporate housing and serviced apartment solutions.
Asia-Pacific was the largest region in the apartments and other residential developments market in 2022. The regions covered in apartments and other residential developments report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and 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.
The rise in the construction and housing industries is expected to propel the growth of the apartment and other residential development markets. The construction and housing industries have seen a surge, owing to a combination of variables like population growth, urbanization, and economic development. This demographic shift has resulted in an increase in the development of apartments and other residential construction.
For instance, in June 2021, according to the Stats NZ Tauranga Aotearoa, a New Zealand-based government data agency, building activities increased by 3.7% in March 2021. Further, in 2021, residential activities rose by 4.3% compared to 2020. Additionally, according to US Census Bureau, the value of construction activities increased from $1,626.4 billion in 2021 to $1,792.9 billion in 2022 with a growth rate of 10.2%. Therefore, an increasing demand for the rise in the construction and housing industries is driving the growth of the apartment and other residential development market.
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.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 275 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $72.77 billion |
| Forecasted Market Value (USD) by 2027 | $113.91 billion |
| Compound Annual Growth Rate | 11.9% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Apartments And Other Residential Developments Market Characteristics
3. Apartments And Other Residential Developments Market Trends And Strategies
4. Apartments And Other Residential Developments Market - Macro Economic Scenario
4.1. COVID-19 Impact On Apartments And Other Residential Developments Market
4.2. Ukraine-Russia War Impact On Apartments And Other Residential Developments Market
4.3. Impact Of High Inflation On Apartments And Other Residential Developments Market
5. Apartments And Other Residential Developments Market Size And Growth
5.1. Global Apartments And Other Residential Developments Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Apartments And Other Residential Developments Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Apartments And Other Residential Developments Market Segmentation
6.1. Global Apartments And Other Residential Developments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Houses And Housing Estate Developments
- Apartments
- Other Residential Developments
6.2. Global Apartments And Other Residential Developments Market, Segmentation By Service, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Large Chain Companies
- Independent Contractors
6.3. Global Apartments And Other Residential Developments Market, Segmentation By Sales Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- New Construction
- Renovation
7. Apartments And Other Residential Developments Market Regional And Country Analysis
7.1. Global Apartments And Other Residential Developments Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Apartments And Other Residential Developments Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
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