The real estate industry includes establishments involved in renting, leasing and allowing the use of buildings and land. It also includes managing real estate for others, selling, renting and buying real estate for others and appraising real estate.
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The global real estate market is valued at around $4 trillion in 2017. This can be attributed to the expected increase in demand for real estate due to growing population, rapid urbanization, rising per capita income, demographic shift, and easing real estate regulations to facilitate affordable housing in emerging countries such as China and India.
The real estate market in The Business Research Company’s report is segmented into two segments, namely, rental activities and brokerage services. While the first segment accounts for more than three-fifth of the market share, the remaining share is attributed to the brokerage services segment.
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China was the largest country in the real estate market in 2017, accounting for nearly, 30% of the market share. China was followed by the USA and Germany as the next largest countries in the market.
CBRE Group was the largest competitor in the real estate market, followed by Jones Lang LaSalle Inc. and New World Development Company Limited. CBRE Group, Inc. is an American commercial real estate services and investment firm. The company operates in the Americas, Europe, Middle East and Africa (EMEA) and Asia Pacific. It is headquartered in Los Angeles, California, US and employs around 75,000 people.
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