The global real estate leasing market was valued at over USD 1 trillion in 2016 and is expected to reach almost USD 2 trillion by 2021.
Procurement market intelligence analysts have announced its latest market research report on real estate leasing for the period 2017-2021. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the real estate leasing market during the forecast period. Some of the top vendors listed in this industry analysis include CBRE, JLL, Cushman & Wakefield, Colliers International, and Newmark Grubb Knight Frank.
As per the geographical analysis, the Americas are the largest shareholder in the global market, with a market share of around 34%. The increase in the employment rates attract multiple foreign investments with an increased demand for leasing office spaces will fuel the growth in this region.
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According to Angad Singh, a procurement specialist at Technavio for research on category spend intelligence, “The high adoption of BCP among tenants will help in the growth of the global real estate leasing market. The implementation of BCP increases the property value in regions that are prone to natural or man-made disasters. Various consumers have started to focus on disaster preparation by establishing BCP that involves creating systems to prevent and recover from business interruptions.”
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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.
Setting up of new offices and facilities
The economic developments and relaxation of trade barriers across various regions worldwide will lead to a geographic expansion of MNCs and increase in the number of start-ups. The growth in businesses and industries will increase the demand for the number of office facilities and will boost the requirement for rented office spaces. The market analysts estimated that in 2015, more than 500,000 new businesses started in the US, which will foster the growth of the global real estate leasing market.
Emergence of destination-based retail development
The emergence of destination-based retailing is promoted by several retailers that are downsizing their footprints due to increase in competition from e-commerce retailers. The online retailers have increased the leasing demand for warehouse spaces, as they focus on increasing their warehouse locations to support short time delivery of products. In destination-based retailing, brands are focusing on experiential marketing and providing service options to customers.
Strong demand from tenants of banking and IT industries
The development and economic growth in emerging economies such as India have increased the geographic expansion of the top financial and IT firms in the region, increasing the demand for quality office spaces. Buyers from these two sectors perform some of the top leasing transactions worldwide, which will augment the growth of the real estate leasing market.
A more detailed analysis is available in the procurement market intelligence report titled, ‘Global Real Estate Leasing Market – Procurement Market Intelligence Report 2017-2021.’
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