Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "Global Affordable Housing Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global affordable housing sector is witnessing an upward trajectory, according to the latest industry report now available for review. The comprehensive analysis projects the market to grow from $51.05 billion in 2022 to $54.26 billion in 2023, with a noteworthy compound annual growth rate (CAGR) of 6.3%. Despite the challenges posed by the Russia-Ukraine conflict, the affordable housing market remains resilient, expected to attain $67.17 billion by 2027, progressing at a CAGR of 5.5%. The impetus for this growth is attributed to the increasing accessibility of home loans, which bolster homeownership and address housing affordability concerns. Recent data reflects in the first quarter of 2023, there has been a significant elevation in total household debt, corroborating the trend of growing home loan availability fueling market expansion.
Technological Innovations Pave the Way in Affordable Housing
Rapid advancements in technology are shaping the landscape of affordable housing. Pioneers in the industry are developing groundbreaking, tech-forward solutions to consolidate their presence in the market. Noteworthy is the breakthrough in AI-based capabilities tailored for affordable housing by leading software companies. These enhancements promise to elevate property management and resident experiences while offering integrated platforms that streamline compliance, procedures, and financial operations.
Navigating Through Regional Dominance and Competitive Playgrounds
North America has emerged as the market leader within the affordable housing sector. However, significant activities in the Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa illustrate a dynamic global presence. The report covers pivotal nations involved in the affordable housing market, providing a granular outlook on the industry's reach. The report also shines a light on prominent market players that are driving innovation and expansion in affordable housing. It highlights the strategic moves like acquisitions by major firms to bolster their positions and contribute to solving housing inadequacies around the world.
Mapping the Affordable Housing Market's Facets
- Private builders, government initiatives, and public-private partnerships are identified as the primary providers in the market.
- The report scrutinizes varied unit sizes and locations tailored to diverse income categories, catering to both urban and rural populations.
- Comprehensive insights into the revenue streams within the affordable housing sector are presented, encompassing sales of microunits, accessory dwelling units, mobile homes, and single-resident occupancy (SRO).
A selection of companies mentioned in this report includes
- Skanska AB
- The Related Group
- KEC International Limited
- L&T Construction
- Volunteers of America
- Shapoorji Pallonji & Company Private Limited
- The Beacon Communities LLC
- McCormack Baron Salazar
- Prestige Group
- The Michaels Organization
- Amrapali Group
- Pinnacle Housing Group
- National Church Residences
- BRIDGE Housing Corporation
- Shriram Properties Ltd.
- Dominium
- Herman & Kittle Properties Inc.
- Jonathan Rose Companies LLC
- Provident Housing Limited
- The Community Builders Inc.
- AHC Inc.
- TWG Development
- Tata Realty And Infrastructure Limited
- The Richman Group
- LDG Development LLC
- Signature Global Limited
- NRP Group
- Dantes Partners
- XRBIA Developers Limited
- Mercy Housing Inc.
For more information about this report visit https://www.researchandmarkets.com/r/ubvygc
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