Commercial valuation data collected and maintained by the Cook County Assessor's Office, from 2021 to present. The office uses this data primarily for valuation and reporting. This dataset consolidates the individual Excel workbooks available on the Assessor's website into a single shared format. Properties are valued using similar valuation methods within each model group, per township, per year (in the year the township is reassessed). This dataset has been cleaned minimally, only enough to fit the source Excel workbooks together - because models are updated for each township in the year it is reassessed, users should expect inconsistencies within columns across time and townships. When working with Parcel Index Numbers (PINs) make sure to zero-pad them to 14 digits. Some datasets may lose leading zeros for PINs when downloaded. This data is property-level. Each 14-digit key PIN represents one commercial property. Commercial properties can and often do encompass multiple PINs. Additional notes: Current property class codes, their levels of assessment, and descriptions can be found on the Assessor's website. Note that class codes details can change across time. Data will be updated yearly, once the Assessor has finished mailing first pass values. If users need more up-to-date information they can access it through the Assessor's website. The Assessor's Office reassesses roughly one third of the county (a triad) each year. For commercial valuations, this means each year of data only contain the triad that was reassessed that year. Which triads and their constituent townships have been reassessed recently as well the year of their reassessment can be found in the Assessor's assessment calendar. One KeyPIN is one Commercial Entity. Each KeyPIN (entity) can be comprised of one single PIN (parcel), or multiple PINs as designated in the pins column. Additionally, each KeyPIN might have multiple rows if it is associated with different class codes or model groups. This can occur because many of Cook County's parcels have multiple class codes associated with them if they have multiple uses (such as residential and commercial). Users should not expect this data to be unique by any combination of available columns. Commercial properties are calculated by first determining a property’s use (office, retail, apartments, industrial, etc.), then the property is grouped with similar or like-kind property types. Next, income generated by the property such as rent or incidental income streams like parking or advertising signage is examined. Next, market-level vacancy based on _location and property type is examined. In addition, new construction that has not yet been leased is also considered. Finally, expenses such as property taxes, insurance, repair and maintenance costs, property management fees, and service expenditures for professional services are examined. Once a snapshot of a property’s income statement is captured based on market data, a standard valuation metric called a “capitalization rate” to convert income to value is applied. This data was used to produce initial valuations mailed to property owners. It does not incorporate any subsequent changes to a property’s class, characteristics, valuation, or assessed value from appeals.Township codes can be found in the legend of this map. For more information on the sourcing of attached data and the preparation of this datase

The commercial real estate brokerage services market is anticipated to exhibit a consistent growth trajectory, with a market size of $1294.9 million and a projected CAGR of 4.6% during the forecast period of 2025-2033. The market is driven by factors such as the increasing demand for commercial real estate, the rise of e-commerce, and the growing need for specialized real estate services. Furthermore, the adoption of advanced technologies and data analytics is expected to further fuel market growth. Key trends in the commercial real estate brokerage services market include the emergence of proptech platforms, the increasing focus on sustainability, and the rise of coworking spaces. The market is segmented into various applications, including offices, industrial and logistics, retail, multifamily, and others. Major players operating in the market include CBRE Group, Christie's International Real Estate, Cushman and Wakefield, Jones Lang LaSalle, Newmark and Company Real Estate, and Colliers International Group. The market is geographically segmented into North America, South America, Europe, Middle East & Africa, and Asia Pacific. North America is expected to remain the dominant region throughout the forecast period due to the presence of a large number of commercial properties and a well-established commercial real estate industry.

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Commercial Real Estate Market Size 2025-2029

The commercial real estate market size is forecast to increase by USD 427.3 billion, at a CAGR of 4.6% between 2024 and 2029.

The market is experiencing significant growth, fueled by increasing marketing initiatives and the rising emphasis on remote work and online shopping. This trend is transforming the commercial real estate landscape, with a shift towards adaptive spaces that cater to the evolving needs of businesses and consumers. The increasing adoption of marketing strategies, such as digital marketing and experiential retail, is driving demand for commercial properties that can effectively showcase brands and create memorable customer experiences. Additionally, the shift towards remote work and online shopping is leading to a surge in demand for data centers, logistics facilities, and flexible office spaces.
However, this market is not without challenges. The rapid pace of technological advancements and changing consumer preferences pose significant obstacles for commercial real estate developers and investors. The need to adapt to these shifts and stay competitive requires a deep understanding of market trends and the ability to pivot quickly. Furthermore, regulatory changes and economic instability can also impact the market's growth trajectory. To capitalize on the opportunities and navigate the challenges effectively, companies must stay informed about the latest market trends and consumer preferences. Investing in technology and innovation, while also maintaining flexibility and adaptability, will be key to success in the evolving the market.

What will be the Size of the Commercial Real Estate Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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The market continues to evolve, with dynamic market activities unfolding across various sectors. Environmental impact assessments are increasingly crucial in property development, shaping the design and construction process. Tenant representation plays a pivotal role in securing suitable spaces for businesses, while 3D modeling facilitates effective space planning and data visualization. Due diligence is an ongoing process, ensuring compliance with legal and regulatory requirements. Property tax assessments, vacancy rates, and property management are essential components of commercial real estate investment strategies. Distressed properties present opportunities for joint ventures and strategic investments, while interior design and machine learning contribute to enhancing tenant experience and optimizing building performance.

Investment properties, industrial properties, and urban planning strategies benefit from big data analytics and virtual tours, enabling informed decision-making. Commercial mortgages and brokerage services facilitate the buying and selling of properties, while occupancy costs and building codes ensure operational efficiency and safety. The market is a complex, ever-changing landscape, with continuous market dynamics shaping its various sectors. From environmental impact assessments to tenant representation, property management, and investment strategies, the integration of various components is essential for success in this dynamic industry.

How is this Commercial Real Estate Industry segmented?

The commercial real estate industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Offices
  Retail
  Leisure
  Others


Channel

  Rental
  Lease
  Sales


Transaction Type

  Commercial Leasing
  Property Sales
  Property Management


Service Type

  Brokerage Services
  Property Development
  Valuation Consulting
  Facilities Management


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    Egypt
    KSA
    Oman
    UAE


  APAC

    China
    India
    Japan


  South America

    Argentina
    Brazil


  Rest of World (ROW)

By End-user Insights

The offices segment is estimated to witness significant growth during the forecast period.

The U.S. commercial real estate market is undergoing major shifts, particularly in the office segment, driven by flexible work models, evolving corporate needs, and technological advancements. Businesses now favor adaptable, tech-enabled spaces to attract talent, fueling demand for co-working hubs like Regus and WeWork. Industry leaders such as Google and Amazon are redefining office design to boost collaboration and satisfaction.

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The Offices segment was valued at USD 476.50 billion in 2019 and showed a gradual increase during th

 Primary Parcel file containing primary owner and land information; Addn file containing drawing vectors for dwelling records; Additional Address file containing any additional addresses that exist for a parcel; Assessment file containing assessed value-related data; Appraisal file containing appraised value-related data; Commercial file containing primary commercial data; Commercial Apt containing commercial apartment data; Commercial Interior Exterior data Dwelling file Entrance data containing data from appraisers' visits; Other Buildings and Yard Improvements Sales File Tax Rate File for the current billing cycle by taxing district authority and property class; and, Tax Payments File containing tax charges and payments for current billing cycle.In addition to the CSV files, the following are included: Data Dictionary PDF; and, St Louis County Rate Book for the current tax billing cycle.

The US office real estate market, while facing headwinds from remote work adoption, demonstrates resilience and ongoing growth. The market size, estimated at $1.5 trillion in 2025, is projected to experience a compound annual growth rate (CAGR) exceeding 4% through 2033, driven by several key factors. Increased urbanization and population growth in major metropolitan areas fuel demand for office space, especially in sectors like Information Technology (IT and ITES), Manufacturing, and BFSI (Banking, Financial Services, and Insurance). Furthermore, the ongoing expansion of consulting firms and other service-based industries continues to contribute to this demand. However, the market faces challenges from evolving work models, with hybrid and remote work arrangements impacting overall occupancy rates. Technological advancements are also transforming the office landscape, pushing for more efficient and technologically advanced spaces, driving demand for renovations and new construction. Major players like Hitt Contracting, Kiewit Corporation, and others are navigating these trends, adapting their strategies to meet the changing needs of their clients. The market segment breakdown will likely reflect the ongoing growth in tech and service sectors, while traditional industries continue to hold significant shares, albeit with potentially slower growth rates. Regional differences will persist, with major metropolitan areas such as New York, Los Angeles, Chicago, and San Francisco likely continuing to dominate the market, but secondary and tertiary markets may experience slower, yet steady growth based on local economic conditions. The long-term forecast anticipates sustained growth, albeit at a potentially moderated pace, due to the evolving work landscape. Strategic investments in building renovations, advanced technologies, and flexible lease agreements are crucial for navigating the market's dynamics. The competition among major players will remain intense, with emphasis on providing value-added services and adapting to tenant preferences. Geographic diversification will be key for companies to mitigate risk and capitalize on growth opportunities across different regions. The successful firms will leverage data analytics, sustainability initiatives, and a deep understanding of tenant needs to thrive in this dynamic and evolving market. This comprehensive report provides an in-depth analysis of the USA office real estate industry, covering the period from 2019 to 2033. It offers invaluable insights into market size, segmentation, trends, and future growth projections, encompassing key sectors like Information Technology (IT and ITES), Manufacturing, BFSI (Banking, Financial Services, and Insurance), Consulting, and Other Services. With a focus on the estimated year 2025 and a forecast period extending to 2033, this report is essential for investors, developers, and industry professionals seeking to navigate the complexities of this dynamic market. The report utilizes a base year of 2025, with a historical period spanning 2019-2024 and a forecast period of 2025-2033. This detailed analysis leverages high-search-volume keywords, like commercial real estate, office space, USA office market, real estate investment trusts (REITs), and office leasing, to ensure maximum online visibility. Key drivers for this market are: Increasing Disposable Income and Middle-Class Expansion, Increased Awareness of Roofing Solutions. Potential restraints include: The presence of counterfeit or substandard roofing materials in the market poses a significant challenge, The roofing industry faces a shortage of skilled labor. Notable trends are: Increase in Leasing Volumes.

Real Estate Services Market Outlook

The global real estate services market size is projected to reach approximately USD 15.2 trillion by 2032, growing at a compound annual growth rate (CAGR) of 5.1% from USD 9.5 trillion in 2023. This growth is driven by several factors, including increasing urbanization, rising disposable incomes, and growing demand for both residential and commercial properties. The market is benefiting significantly from technological advancements that streamline property management and investment processes, making them more accessible and efficient for a wider range of end-users.

One of the primary growth factors for the real estate services market is the rapid urbanization occurring across the globe. As more people migrate to urban centers in search of better employment opportunities and enhanced quality of life, the demand for residential as well as commercial properties is increasing. This urban shift is not only limited to developed countries but is also highly pronounced in developing nations, where burgeoning middle-class populations are driving demand for modern housing and commercial spaces. Additionally, government initiatives focused on urban development and smart cities are further propelling the growth of the real estate services market.

Rising disposable incomes and changing lifestyle preferences are also contributing to the growth of the real estate services market. As individuals and families attain higher income levels, their purchasing power increases, enabling them to invest in more luxurious and better-located properties. This trend is especially evident in emerging economies, where economic growth is opening up new opportunities for property investment. Furthermore, the increased availability of mortgage options and favorable interest rates are making it easier for people to invest in both residential and commercial real estate, thus driving market expansion.

Technological advancements are another significant growth factor in the real estate services market. The integration of advanced technologies such as artificial intelligence, big data analytics, and blockchain in real estate transactions and property management is revolutionizing the industry. These technologies are enhancing the efficiency, transparency, and accessibility of real estate services. For instance, virtual tours and augmented reality are becoming popular tools for property viewing, making it easier for buyers and investors to make informed decisions. Additionally, online platforms are simplifying the property search and transaction process, thereby expanding the market's reach to a broader audience.

The role of IT in Real Estate has become increasingly significant as the industry embraces digital transformation. IT solutions are being leveraged to enhance operational efficiency, improve customer experiences, and provide data-driven insights. For instance, property management software and customer relationship management (CRM) systems are streamlining processes and enabling real estate firms to manage their portfolios more effectively. Additionally, the use of data analytics is helping firms to better understand market trends, customer preferences, and investment opportunities. As technology continues to evolve, the integration of IT in Real Estate is expected to drive further innovation and growth in the sector.

From a regional perspective, the Asia Pacific region is expected to witness substantial growth in the real estate services market. The region's rapid economic development, coupled with increasing urbanization and industrialization, is driving demand for both residential and commercial properties. Countries such as China, India, and Southeast Asian nations are experiencing significant investments in real estate, supported by favorable government policies and a thriving construction sector. North America and Europe are also key players in the market, with steady demand for real estate services driven by economic stability and robust real estate infrastructure.

Service Type Analysis

The real estate services market is broadly segmented into various service types, including property management, brokerage services, real estate investment, valuation services, and others. Property management services are crucial for maintaining and enhancing the value of real estate assets. These services encompass a range of activities such as rent collection, maintenance, tenant management, and compliance with regulations. The demand for p

The Commercial Real Estate (CRE) industry is exhibiting significant variations across markets, with persistently high office vacancy rates juxtaposed against thriving prime office spaces. Hard hit by the widespread adoption of remote and hybrid work models, the overall office vacancy rate rose to 20.4% in Q4 2024 from the pre-pandemic rate of 16.8%. However, leasing volumes for prime office spaces are set to climb, providing opportunities for seasoned investors. On the other hand, the multifamily sector is gaining from a prominent move towards renting, primarily driven by housing affordability concerns and changing lifestyle preferences. This has increased demand for multifamily properties and opportunities to convert underutilized properties, such as offices, into residential rentals. The industrial real estate segment is also evolving, with the boom in e-commerce necessitating the development of strategically located warehouses for quick fulfillment and last-mile delivery. Industry revenue has gained at a CAGR of 0.8% to reach $1.4 trillion through the end of 2025, including a 0.4% climb in 2025 alone. The industry is grappling with multiple challenges, including high interest rates, wide buyer-seller expectation gaps and significant disparities in demand across different geographies and asset types. The Federal Reserve's persistent high-interest-rate environment creates refinancing hurdles for properties purchased during the low-rate period of 2020-2021. Because of remote working trends, office delinquency rates are predicted to climb from 11.0% in late 2024 to 14.0% by 2026, leading to a job market increasingly concentrated in certain urban centers. Through the end of 2030, the CRE industry is expected to stabilize as the construction pipeline shrinks, reducing new supply and, in turn, rebalancing supply and demand dynamics. With this adjustment, occupancy rates are likely to improve, and rents may observe gradual growth. The data center segment is set to witness accelerating demand propelled by the rapid expansion of artificial intelligence, cloud computing and the Internet of Things. Likewise, mixed-use properties are poised to gain popularity, driven by the growing appeal of flexible spaces that accommodate diverse businesses and residents. This new demand, coupled with the retiring baby boomer generation's preference for leisure-centric locales, is expected to push the transformation of traditional shopping plazas towards destination centers, offering continued opportunities for savvy CRE investors. Industry revenue will expand at a CAGR of 1.9% to reach $1.6 trillion in 2030.

The real estate services market is experiencing robust growth, driven by several key factors. A rising global population, coupled with increasing urbanization and a demand for improved housing and commercial spaces, fuels consistent market expansion. Technological advancements, such as proptech solutions enhancing efficiency and transparency in property transactions, are further accelerating growth. The market is segmented by service type (property management, brokerage, appraisal, etc.), property type (residential, commercial, industrial), and geographic region. While precise market sizing requires proprietary data, a conservative estimate based on industry reports and observed CAGR suggests a 2025 market value of approximately $5 trillion globally. This estimate considers the substantial contributions of major players like Associa, CBRE, and Zillow, and accounts for the diverse range of services offered across residential and commercial segments. Furthermore, the integration of technology across segments will continue to be a significant driver of growth in the coming years. Looking ahead to 2033, the market's continued expansion is projected, driven by factors such as evolving consumer preferences, growing investor interest in real estate, and the ongoing need for professional services in a complex market. However, economic fluctuations, regulatory changes, and potential shifts in demographic trends could introduce challenges. Despite these potential headwinds, the long-term outlook remains positive due to the fundamental need for real estate services across various sectors, coupled with ongoing technological innovation and evolving consumer expectations. The continued rise of online platforms and data-driven decision making in real estate investment and property management will shape future market dynamics, creating opportunities for both established firms and disruptive startups.

Snapshot img

Europe Commercial Real Estate Market Size 2025-2029

The europe commercial real estate market size is forecast to increase by USD 91.4 billion at a CAGR of 5.7% between 2024 and 2029.

The European commercial real estate market is experiencing significant growth, with increasing private investments fueling the expansion. This trend is driven by the region's robust economic conditions and the attractiveness of European markets to global investors. However, the market's growth trajectory is not without challenges. Rising interest rates pose a threat to potential investors, increasing the cost of borrowing and potentially reducing the appeal of commercial real estate investments. Additionally, regulatory hurdles and supply chain inconsistencies temper growth potential, necessitating careful planning and strategic navigation. Despite these challenges, opportunities abound for companies seeking to capitalize on the market's momentum. By staying informed of regulatory changes and supply chain developments, and maintaining a strong understanding of market trends, businesses can effectively navigate these challenges and seize growth opportunities in the European commercial real estate market.

What will be the size of the Europe Commercial Real Estate Market during the forecast period?

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In Europe's commercial real estate market, environmental impact assessments are increasingly important in property development, as sustainability becomes a key consideration. Real estate consulting firms provide valuable insights through property appraisals and predictive modeling, helping investors make informed decisions. Zoning regulations and planning permissions shape the landscape for asset management, while green certifications offer competitive advantages. Flexible workspaces, such as serviced and coworking spaces, are on the rise, catering to the changing needs of businesses. Energy audits and facility management ensure efficient operations, reducing costs and enhancing tenant satisfaction. Lease administration, tenant screening, and property valuations are essential components of effective asset management. Real estate analytics and property listings enable data-driven insights, driving transaction advisory services. Construction management and project management are crucial for delivering high-quality buildings, while virtual offices provide flexibility for remote teams. Property marketing and maintenance round out the essential services for successful real estate investments.

How is this market segmented?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. TypeRentalLeaseSalesEnd-userOfficesRetailLeisureOthersEnd-UserCorporateInvestmentGovernmentLocationUrbanSuburbanGeographyEuropeFranceGermanyItalyUK

By Type Insights

The rental segment is estimated to witness significant growth during the forecast period.

Commercial real estate in Europe encompasses various sectors, including rental, office buildings, industrial properties, residential, and retail spaces. Debt financing plays a crucial role in the market, with mortgage lending and equity financing facilitating property transactions. Logistics facilities are in high demand due to the growth of e-commerce, necessitating infrastructure development and urban planning. ESG factors are increasingly influencing investment decisions, with a focus on energy efficiency, green building, and property technology. Building Information Modeling (BIM) and big data analytics are transforming property management and due diligence. Occupancy rates and rental yields remain essential indicators of market health, with vacancy rates impacting property values. Urban regeneration and mixed-use developments are shaping cityscapes, while market volatility and real estate cycles pose risks. Artificial intelligence, the Internet of Things, and smart building technologies are revolutionizing property management and investment strategies. Despite the robust leasing market and rising rents, investment markets exhibit caution due to economic uncertainties and finance rates. Office rental growth, particularly in the UK, Benelux markets, and peripheral Europe, accelerated in the third quarter of 2022, increasing annual growth to over 5%. However, buyers remain hesitant to pay earlier price levels, impacting capital markets and property values. Risk management and portfolio diversification are essential strategies for navigating these evolving trends.

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The Rental segment was valued at USD billion in 2019 and showed a gradual increase during the forecast period.

Market Dynamics

Our researchers analyzed the data with 2024 as the base year, along with the key drivers, trends, and challeng

The global real estate services market is experiencing robust growth, driven by factors such as increasing urbanization, rising disposable incomes, and the growing popularity of online real estate platforms. The market, currently valued at approximately $5 trillion in 2025, is projected to expand at a compound annual growth rate (CAGR) of 7% from 2025 to 2033, reaching an estimated value of $9 trillion by 2033. This growth is fueled by both the residential and commercial sectors, with significant contributions from various service types, including trading and rental services. The increasing demand for professional real estate services, particularly in emerging markets, further contributes to this expansion. Technological advancements, such as the integration of artificial intelligence and big data analytics, are transforming the industry, leading to increased efficiency and improved customer experiences. Key players are adopting innovative strategies like virtual tours and property management software to cater to the evolving needs of clients. Segmentation analysis reveals a significant share held by the residential sector within the application segment, while trading services constitute a larger portion of the overall service type segment. North America and Asia-Pacific currently dominate the market, but emerging economies in regions like South America and Africa are showing promising growth potential. The market's growth, however, is not without its challenges. Regulatory changes, economic fluctuations, and the cyclical nature of the real estate market pose potential restraints. Despite these challenges, the overall outlook for the real estate services market remains positive, with consistent growth projected throughout the forecast period. The increasing adoption of technology and the growing demand for specialized services across diverse geographical areas continue to drive market expansion. The industry is undergoing a transformation, and companies are adapting their strategies to remain competitive in this dynamic landscape. Successful businesses are effectively leveraging data analytics, enhancing customer engagement, and building strategic partnerships to capitalize on emerging opportunities and maintain a robust market position.

The real estate and property management services market is experiencing robust growth, driven by several key factors. Increasing urbanization and population growth globally are fueling demand for residential and commercial properties, creating a need for professional management services. Technological advancements, such as property management software and online platforms, are streamlining operations and enhancing efficiency, attracting both investors and property owners. Furthermore, the rise of institutional investors in the real estate sector is contributing to market expansion, as they seek professional management expertise to maximize returns on their investments. The market is segmented by service type (residential, commercial, industrial), property type (apartments, single-family homes, office buildings), and geographic region. Competition is intense, with established players like Associa and CBRE vying for market share alongside regional firms and emerging technology-driven companies. However, the market also faces certain challenges. Economic fluctuations, particularly interest rate hikes and potential recessions, can significantly impact property values and demand for management services. Regulatory changes and compliance requirements can also increase operational costs and complexity for property management firms. Furthermore, attracting and retaining skilled professionals in a competitive labor market is crucial for sustained growth. Future market growth will likely be influenced by evolving consumer preferences, technological innovations, and macroeconomic conditions. The forecast period (2025-2033) anticipates continued expansion, albeit at a pace potentially moderated by economic factors. A likely CAGR of 5-7% is reasonable considering the projected global economic growth and continued demand for real estate services. This growth is likely to be unevenly distributed across regions, with rapidly developing economies experiencing faster expansion.

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Blaze Property is a real estate company that offers a range of services, including property management, sales, and rentals. With a focus on Amarillo and surrounding areas, the company provides expert guidance for homes, apartments, offices, and commercial properties. Their experienced team is committed to delivering personalized service, ensuring that clients receive the best possible outcomes.

From property repairs to pest control, Blaze Property is there to support the entire property management process. They also offer REO sales and management, providing a one-stop solution for all real estate needs. With a strong presence online, the company provides easy access to property listings, allowing potential buyers and renters to browse and find the perfect fit. Through their website, customers can also connect with professionals for personalized advice and support.

Real Estate Valuation Service Market Outlook

The global real estate valuation service market size was valued at approximately $6.5 billion in 2023 and is projected to reach around $12.3 billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 7.0% during the forecast period. This impressive growth is driven by the increasing need for accurate property assessments, regulatory requirements, and the rising complexity of transactions in the real estate sector.

One of the primary growth factors for the real estate valuation service market is the escalating demand for accurate property valuations due to the dynamic nature of the real estate industry. With the increasing number of property transactions, both residential and commercial, the need for precise valuation services has become critical. Accurate property valuations provide stakeholders with essential insights into property worth, which is fundamental for making informed investment decisions, securing mortgages, and ensuring fair taxation.

Furthermore, advancements in technology have significantly contributed to the growth of the real estate valuation service market. The integration of Artificial Intelligence (AI), Machine Learning (ML), and Big Data analytics into valuation processes has enhanced the accuracy, efficiency, and speed of property assessments. These technologies enable valuers to analyze vast amounts of data, including market trends, property characteristics, and economic indicators, to deliver precise and timely valuations.

Another significant growth factor is the increasing regulatory requirements in various countries that mandate periodic property assessments for taxation and compliance purposes. Governments and regulatory bodies are emphasizing transparency and accuracy in property valuations to ensure fair taxation and prevent fraudulent activities in the real estate market. This has led to a surge in demand for professional valuation services from accredited providers.

Geographically, the real estate valuation service market is witnessing substantial growth across various regions. North America holds a significant share due to the well-established real estate sector and stringent regulatory frameworks that mandate accurate property valuations. The Asia-Pacific region is expected to exhibit the highest growth rate, driven by rapid urbanization, increasing real estate investments, and the adoption of advanced valuation technologies. Europe, Latin America, and the Middle East & Africa are also anticipated to witness steady growth, supported by economic development and rising property transactions in these regions.

In the realm of real estate, the concept of Luxury Home Appraisal has gained significant traction. As the market for high-end properties continues to expand, the need for specialized appraisal services becomes increasingly important. Luxury homes often possess unique features, architectural designs, and premium locations that require a nuanced approach to valuation. Appraisers in this segment must consider factors such as custom finishes, exclusive amenities, and historical significance, which can greatly influence the property's market value. Accurate appraisals are crucial for buyers, sellers, and lenders to ensure fair transactions and informed decision-making in the luxury real estate market.

Service Type Analysis

The real estate valuation service market is segmented by service type into residential valuation, commercial valuation, industrial valuation, agricultural valuation, and others. Residential valuation services dominate the market, driven by the high volume of residential property transactions. The increasing demand for housing, coupled with the need for accurate home valuations for mortgage and lending purposes, fuels this segment's growth. Residential valuation services encompass the assessment of single-family homes, apartments, and condominiums, providing essential insights for buyers, sellers, and lenders.

Commercial valuation services constitute a significant segment within the real estate valuation market. This segment includes the valuation of office buildings, retail spaces, hotels, and other commercial properties. The demand for commercial valuation services is propelled by the need for precise property assessments for investment analysis, leasing, and sales transactions. Commercial properties often involve more complex valuation processes due to their diverse income stream

Commercial Property Management Market Outlook

The global commercial property management market size was valued at approximately $15.5 billion in 2023 and is projected to reach $30.2 billion by 2032, growing at a compound annual growth rate (CAGR) of 7.8% during the forecast period. This growth is driven by increasing urbanization, rising interest in real estate investments, and advancements in property management technologies.

One of the primary growth factors for the commercial property management market is the increasing urbanization worldwide. As more people migrate to urban areas, the demand for commercial properties such as office buildings, retail spaces, and industrial properties increases. This urban migration drives the need for effective property management services to ensure these properties are well-maintained, tenanted, and financially viable. Additionally, the surge in the development of smart cities has created a demand for advanced property management solutions that integrate IoT and AI to manage properties more efficiently.

Another significant growth driver is the rising interest in real estate investments. Investors are increasingly seeing commercial properties as a lucrative investment option due to the potential for high returns and long-term capital appreciation. This trend has led to a greater need for professional property management services to maximize the value of these investments. Property management companies provide essential services such as tenant management, lease administration, and maintenance, ensuring the properties are effectively managed to achieve the highest possible return on investment.

Advancements in property management technologies also play a crucial role in the growth of this market. The integration of technology in property management processes has revolutionized how these services are delivered. Modern property management software solutions offer features like automated rent collection, maintenance scheduling, and tenant communication, which enhance operational efficiency and improve the tenant experience. Additionally, the use of data analytics and AI enables property managers to make informed decisions, optimize property performance, and predict market trends.

Service Type Analysis

The commercial property management market can be segmented by service type into lease management, tenant management, maintenance and repair, financial management, and others. Lease management services are critical as they ensure that lease agreements are compliant with legal standards and beneficial for both property owners and tenants. These services include lease negotiation, documentation, and renewal processes. The increasing complexity of lease agreements and the need for legal compliance drive the demand for professional lease management services.

Tenant management services, another significant segment, focus on managing tenant relationships and ensuring tenant satisfaction. This includes services such as tenant screening, lease enforcement, conflict resolution, and tenant retention strategies. A good tenant management system helps property owners maintain high occupancy rates and minimize turnover, which is crucial for sustaining rental income and property value. The growing emphasis on enhancing tenant experience to retain quality tenants is a key driver for this segment.

Maintenance and repair services are essential for the upkeep of commercial properties. These services ensure that properties are in good condition, thereby preventing costly repairs and maintaining property value. Regular maintenance checks, emergency repairs, and preventive maintenance are some of the services included in this segment. As properties age, the demand for maintenance and repair services increases, making this a critical component of property management.

Financial management services are also crucial in the commercial property management market. These services include budgeting, financial reporting, rent collection, and expense management. Property managers provide detailed financial reports that help property owners make informed decisions and ensure transparency in financial transactions. The increasing complexity of financial regulations and the need for accurate financial reporting drive the demand for professional financial management services.

Report Scope

This metadata document provides details of the data used for the dissertation: “Improving Commercial Property Price Statistics”. The study explores data related and methodological challenges in the construction of price statistics for commercial real estate.

Short abstract of the dissertation

Since the financial crisis of 2008, National Statistical Institutes (NSIs) have worked to develop commercial real estate (CRE) indicators for official statistics. These indicators are considered essential in financial stability monitoring and may help contain the consequences of future crises or even prevent future crises. However, progress at NSIs to develop these indicators has been slow due to challenges like low observation numbers and high heterogeneity. This dissertation addresses these challenges by exploring data issues and suggesting methodological improvements.

The first three studies focus on data challenges regarding share deals and portfolio sales. Both are real estate trading constructions that are specific to CRE. The results show that share deals and portfolio sales significantly differ from the rest of the market. Therefore, under specific circumstances, CRE indicators could benefit from including these trading types. The final two studies focus on methodological challenges regarding index construction methods and the role of sustainability in real estate pricing. The results show that, by combining established techniques, it is possible to construct price indices that meet official statistics’ standards. Furthermore, the results uncover a complex relationship between sustainability and prices: while energy efficiency generally involves price premiums, others aspects like health and environment display a discount for low sustainable properties.

Overall, this dissertation contributes to the legislative framework that is currently being developed for EU countries to publish official statistics for commercial real estate and adds to the academic discussion by presenting innovative techniques for data analyses and index construction.

Data sources

The following data sources were used:

1. Bussiness Register (Statistics Netherlands)
2. Transactions linked to the Register of Adresses and Buildings (BAG)
3. Linking table buildings and companies (Dutch Land Registry Office)
4. Property Transfer Tax data (Dutch Tax Authorities)
5. Building sustainability scores (W/E advisors)Commercial real estate transactions (Dutch Land Registry Office)
6. Commercial real estate transactions (Dutch Land Registry Office)

Processing methodology

1. The data is originally stored in an SQL database and is processed with SQL and R code (version 4.2). In the code, the name of the table is tbl_SPE_2_ABR_Bedrijfsinfo. The data is used for deriving company transfers by comparing ownership states of various periods. The first period that an ownership differs of the same company indicates an ownership transfer.
2. The data is originally stored in an SQL database and is processed with SQL and R code (version 4.2). In the code, the name of the table is tbl_SPE_6_ABR_CompleetMicro. The data is used for calcuting the size of real estate share deals and estimating price developments by applying appropriate filters and counting the output.
3. The data is originally stored in an SQL database and is processed with R code (version 4.2). In the code, the name of the table is SPE_KADASTER. The data is used for finding real estate information that corresponds to company transfers by linking the company register (ABR) to the real estate register (BAG).
4. The data is originally stored in an SQL database and is processed with R code (version 4.2). In the code, the name of the table is tbl_SPE_3_OVB_Bedrijfsinfo. The data is used for deriving real estate share deals by linking this table (Kadaster) to the real estate register (BAG).
5. The data is originally stored in an SQL database and is processed with R code (version 4.2). In the code, the name of the table is duurzaamheid_input_regressie2. The data is used for finding the relationship between sustainabilty measures and real estate transaction prices by linking sustainabilty scores from a consultancy (WE) to transaction prices (Cadastre) and running regression analyses.
6. The data is originally stored in an SQL database and is processed with R code (version 4.2). In the code, the name of the table is tbl_OV20_pand. The data is used for 4 purposes (separate studies).

• (1) Chapter 3: Determining the price effect of portfolio sale by running regression analyses
• (2) Chapter 4: Developing methods to include portfolio sales in CPPI calcutions by using auxilary data of the real estate properties.
• (3) Chapter 5: Developing a price index method for small domains by using these data to test the outcomes
• (4) Chapter 6: Determining the relationship between sustatinability by running regression analyses

Data restrictions

As part of the CBS law, sharing micro-data outside of the CBS-environment is prohibited. Furthermore, CBS manages the data, but in some cases other parties are still formal owners of the data. The 2 other parties are The Land Registry Office and WE consultancy. Ownership and intellectual property rights are managed in contracts with both owners. It was agreed upon that the data can only be used for the purpose of the PhD study and that the microdata will never be externally disseminated. The data is still owned by them and the intellectual property rights of the analyses belong to me. An intended use of the microdata should be approved by both Statistics Netherlands and the formal data owner. Because of the above, no data can be publicly shared.

If one intends to do research on these data, an application for data use can be requested at CBS. CBS will charge costs for anonymising the data and providing a closed environment to work with the data. More information on this can be found at: https://www.cbs.nl/en-gb/our-services/customised-services-microdata/microdata-conducting-your-own-research

Contact information

Author: Farley Ishaak

Statistics Netherlands | Henri Faasdreef 312 | P.O. Box 24500 | 2490 HA The Hague

TU Delft | Delft University of Technology | Faculty of Architecture and the Built Environment

Department of Management in the Built Environment | P.O. Box 5043 | 2600 GA Delft

M +31 6 46307974 | ff.ishaak@cbs.nl | f.f.ishaak@tudelft.nl

Graph and download economic data for Producer Price Index by Commodity: Real Estate Services (Partial): Retail Properties, Gross Rents (WPU43110201) from Apr 2009 to Jun 2025 about rent, real estate, gross, retail, services, commodities, PPI, inflation, price index, indexes, price, and USA.

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