Residential Real Estate Market Size to grow by USD 220.7 million between 2024-2028
According to a research report “ Residential Real Estate Market” by Type (Landed houses and villas, Apartments and condominiums) Mode Of Booking (Sales, Rental/Lease) Geography (APAC)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 220.7 million, at a CAGR of 4.6% during the forecast period. The residential real estate market in Myanmar is experiencing significant growth, with an increasing number of residential buildings under construction. This trend is driven by urbanization and rising standards of living, leading to a surge in demand for various residential options such as single-family homes, condos, cooperatives, duplexes, townhouses, and multifamily residences. The residential construction industry is poised for robust expansion during the forecast period. Furthermore, the concept of integrated living is gaining traction, with home buyers investing heavily in modern residential projects that offer amenities like shopping malls, schools, hospitals, leisure clubs, office blocks, and parks, enabling a self-sufficient and secure lifestyle.
Browse market data tables, figures, and in-depth TOC on “Residential Real Estate Market” by Type (Landed houses and villas, Apartments and condominiums) Mode Of Booking (Sales, Rental/Lease) Geography (APAC) Global Forecast to 2028. Download Free Sample
By Type, the Landed houses and villas segment is projected to dominate the market size in 2024
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By Mode Of Booking, Sales segment is expected to hold the largest market size for the year 2024
As a seasoned virtual assistant, I'm pleased to provide insights into the current state of the residential real estate market. Home sales have exhibited a steady increase, driven by robust consumer demand and low mortgage rates. Property values have risen, indicating a healthy market. Homebuilders are optimistic about future growth, with new construction projects on the rise. Overall, the residential real estate sector presents a promising business opportunity.
APAC is forecasted to hold the largest market size by region in 2024
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The Residential Real Estate Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The residential real estate market caters to various segments, including first-time homebuyers and long-term borrowers. Current interest rates play a significant role in real estate loans, making it an opportune time for both urban area and small town/rural community dwellers to invest. Housing development in metropolitan areas and urban centers, often situated near highways and transportation networks, attracts real estate developers, property managers, and real estate agents. Professional services, such as appraisers and inspectors, are essential in the real estate industry. For those seeking investment opportunities, commercial properties and residential properties, including under-construction properties, offer potential returns. Home automation and ready-to-move-in apartments are modern trends in the market. The real estate industry encompasses big housing spaces, luxury housing, affordable housing, villas, condominiums, and more. Whether you're a first-time homebuyer or a seasoned investor, there's a place for you in this dynamic market. Real estate investment in various property types provides diverse opportunities for growth.
Market Research Overview
The residential real estate market is a dynamic and diverse sector, encompassing a range of properties from luxury bungalows for the elite class to affordable housing for first-time homebuyers. In a brand-new metropolis, upper middle class and middle class residents prefer homes between 111-200 square meters and 81-110 square meters, while smaller homes of 51-80 square meters cater to the needs of smaller families and individuals. Foreign investors are drawn to tourism-rich areas with tourist attractions, where commercial properties, hotels, and residential properties in urban areas and urban centers are in high demand. In contrast, small towns and rural communities offer opportunities for sustainable development projects, including smart cities, sustainable practices, and eco-friendly construction. Real estate loans with low-interest rates are essential for long-term borrowers, while property ownership provides rental cash flow and investment opportunities. Developers, property managers, real estate agents, and professional services play crucial roles in the real estate industry. Urban housing demands continue to rise, with a focus on walkability, business districts, job centers, public transit, highways, and transportation networks. Zoning ordinances and business models prioritize high-value properties, environmentally friendly construction, construction technology, and Light House projects. The real estate market offers various investment opportunities, from ready-to-move-in homes and apartments to under-construction properties. Home automation and energy-efficient buildings are becoming increasingly popular, with a focus on waste reduction and sustainability. Industrial and commercial purposes also contribute significantly to the real estate market, with zoning ordinances and business models tailored to specific needs. The banking industry provides support through real estate loans and financing options, making property ownership accessible to a wider audience. In summary, the residential real estate market is a complex and ever-evolving sector, with diverse offerings catering to various demographics, investment strategies, and sustainable practices.
Contacts
Technavio Research
Jesse Maida
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Email: media@technavio.com
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