Real Estate Services Market By Type (Residential, Commercial, Other property types) , By Service (Property Management, Valuation Services, Other Services) By Application (Personal, Business, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2032
The global real estate services market was valued at $105.0 million in 2023, and is projected to reach $189.6 million by 2032, growing at a CAGR of 7% from 2024 to 2032.
The real estate industry covers a wide array of services aimed at simplifying the processes of buying, selling, renting, and overseeing properties. This sector consists of experts and firms specializing in real estate deals, property management, valuation, funding, and advisory services. Essential elements comprise real estate brokerage services, where agents aid clients in property transactions property management services, which focus on the day-to-day operations of properties; and real estate appraisal services for determining property worth.
The growth of the real estate services market is driven by rise in urbanization as it creates a surge in the need for housing, offices, and other real estate services. Urbanization brings about higher population densities, necessitating improved infrastructure and services, thereby boosting the demand for real estate services. Furthermore, rise in consumer purchasing power plays a crucial role in the global real estate services industry. As disposable incomes increase, consumers now acquire a wider range of real estate services, including renting, buying, and property investment. With greater purchasing power, consumers are inclined to opt for premium services, thereby boosting the demand for real estate services. This trend is especially noticeable in the U.S., where real wages have increased for all income groups, providing significant advantages to middle- and lower-income households.
However, economic uncertainties restrict investors from investing in real estate, thus hampering the growth of the market. On the other hand, strategic moves of the key players present them lucrative opportunities to grow in the market. For instance, in January 2022, CBRE Group has revealed its acquisition of Buildingi, a top provider of occupancy planning and technology services, in response to the increasing demand from occupiers for comprehensive occupancy management services. Buildingi is expected to be seamlessly integrated into CBRE's Occupancy Management team and begin the transition from Buildingi to CBRE. With its expertise in space utilization data management and Computer-Aided Design (CAD) services, Buildingi is anticipated to enhance CBRE's occupancy management solutions.
Segmentation OverviewThe real estate services market is segmented into service, type, application, and region. Depending on type, the market is divided into residential, commercial, and other property types. As per service, it is segregated into property management, valuation services, and other services. According to the application, the market is classified into personal, business, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsBy service, the property management segment accounted for the largest share in the market in 2023.
Depending on type, the residential segment held the highest market share in 2023.
According to the application, the personal segment was the major shareholder in the market in 2023.
Region wise, North America dominated the real estate services market in 2023.
Competitive ScenarioThe major players operating in the real estate services market include Associa, CBRE, Intero Real Estate, Pacific Real Estate Services, Vylla, Bellrock Group, Centex, Pulte Home, Lennar, Zillow, Tecnocasa, and Barnes. These players have adopted several strategies, including mergers & acquisitions, partnerships, collaborations, and product innovation & diversification to maintain their foothold in the market.
Key Market SegmentsBy TypeResidential
Commercial
Other property types
By ServiceProperty Management
Valuation Services
Other Services
By ApplicationPersonal
Business
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Thailand
Malaysia
Indonesia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
UAE
Argentina
Rest of LAMEA
Key Market Players
Associa
CBRE
Intero Real Estate
Pacific Real Estate Services
Vylla
Bellrock Group
Centex
Pulte Home
PulteGroup, Inc.
Lennar
Tecnocasa