The Business Research Company’s Real Estate Global Market Report 2021: COVID-19 Impact and Recovery to 2031
LONDON, GREATER LONDON, UK, January 11, 2021 /EINPresswire.com/ — New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
Gen Z (born between mid-1990s and early 2000s) is the next generation renters after the millennials, and they are predicted to spend more than any other generations on rental services in their lifetime. Gen Z is highly dependent on technology and relies more on the internet and social media to make purchasing and lifestyle decisions. Since Gen Z has experienced technology their entire lives, leasing and marketing campaigns for real estate rental services should incorporate real estate market trends such as the use of technology to reach this generation where they are most active – on apps, on social media or any other internet source. Gen Z make up almost one-quarter of the USA population, and therefore the real estate market forecast expects growth to be witnessed from this generation in the next five years.
The real estate market consists of sales of real estate services by entities (organizations, sole traders, and partnerships) that rent, lease, and allow the use of buildings and/or land. The industry also includes managing real estate for others, selling, renting and buying real estate for others and appraising real estate. The real estate housing market is segmented into real estate rental and real estate agency and brokerage.
The global real estate market is expected to grow from $2.68 trillion in 2020 to $2.77 trillion in 2021 at a compound annual growth rate (CAGR) of 3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. According to TBRC’s real estate market report, the market is expected to reach $3.71 trillion in 2025 at a CAGR of 8%.
Here Is A List Of Similar Reports By The Business Research Company:
Real Estate Rental Global Market Report 2021: COVID-19 Impact and Recovery to 2031
Leasing Global Market Report 2021: COVID-19 Impact and Recovery to 2031
Real Estate Agency and Brokerage Global Market Report 2021: COVID-19 Impact and Recovery to 2031
Services Global Market Report 2021: COVID-19 Impact and Recovery to 2031
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