The global real estate property purchasing market was valued at around USD 3 trillion in 2016 and is expected reach almost USD 4 trillion by 2021.
Procurement market intelligence analysts have announced its latest market research report on real estate property purchasing for the period 2017-2021. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the global real estate property purchasing market during the forecast period. Some of the top vendors listed in this industry analysis include Cushman & Wakefield, JLL, CBRE Group, Newmark & Company Real Estate, and Colliers International.
In terms of geographical analysis, the Americas is the dominant shareholder in the global market with a market share of around 38%. The growth of the real estate property purchasing market in the Americas is accreditable to the economic activity as the population tends to work and dwell in areas with healthy business and employment prospects.
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According to Angad Singh, a procurement specialist at Technavio for research on category spend intelligence, “Outsourcing and start-up culture is propelling the demand for office space in the global market. Organizations opt to outsource office space as this provides an opportunity to keep offices close to the client’s location and move the bulk of the operations to countries where rental prices and wages are relatively lower.”
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The new procurement market intelligence report analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Increased demand for commercial space due to growth in GDP
The GDP growth of a country has a significant impact on the business expansion especially in the industrial real estate sector, as it creates more opportunities for jobs and improved wages. Furthermore, low oil prices increase the disposable income of customers, and subsequently, fuels the economic growth of a country. Such developments result in increased pressure to have more commercial spaces such as hotels and retail stores.
Government policies/subsidies
Government policies related to tax credits, deductions, and subsidies among others have a direct impact on the demand for properties and their prices. Governments often rely on such policies to temporarily boost the demand for real estate.
Enhanced property development management
Enhanced property development management enables developers to effectively manage their building costs and have better control over projects from start to finish. It also helps reduce the overall construction time. The availability of commercial spaces in short span of time increases sales, leading to the growth of such commercial spaces.
A more detailed analysis is available in the procurement market intelligence report titled, ‘Real Estate Property Purchasing – Procurement Market Intelligence 2017’.
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