The coronavirus (COVID-19) outbreak, which was aggravated by a drastic reduction in oil prices, led to a significant devaluation of the Russian ruble in March 2020. Consequently, in the view of a possible interest rate increase on mortgage loans, a notable demand growth on real estate was recorded countrywide. The estimated average demand increase in 2020 relative to 2019 was measured between 12 and 15 percent.
For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Facts and Figures page.
High inflation rates of the Russian ruble, subsequent to the COVID-19 expansion and the cruide oil price drop, promoted a high demand on residential real estate. As a result, an increase in housing prices was recorded in most major cities of the country. After a 1.5 percent growth in March 2020, Moscow led the list with the highest average price for residential real estate, measuring at 211.5 thousand Russian rubles per square meter.
For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Facts and Figures page.
In a September 2020 survey among adults in the United States, over half of respondents said that their interest in buying a home had not changed due to the COVID-19 pandemic (56 percent). However, Hispanic respondents were more likely to have changed their plans (33 percent) compared to white respondents (16 percent). In the United States, the 2020 homeownership rate reached 65.8 percent.
In 2020, the global economy was brought to a standstill because of the coronavirus (COVID-19) pandemic. Foreign investment into commercial real estate in the United States was also affected, with 44 percent of National Association of Realtors (NAR) members reporting that travel bans having impacted their international business. Additionally, approximately 22 percent of respondents claimed that the pandemic impacted the availability of credit and lenders. The impacts of the pandemic continued to obstruct cross-border investments throughout 2021: Approximately 25 percent of respondents complained about travel bans and 14 percent - about social distancing affecting their work.
Replication code for the analysis and figures in the paper
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Chile Real Estate Market: National: Sales: Total data was reported at 3,008.000 Unit in Sep 2024. This records a decrease from the previous number of 3,153.000 Unit for Aug 2024. Chile Real Estate Market: National: Sales: Total data is updated monthly, averaging 4,748.000 Unit from Jan 2004 (Median) to Sep 2024, with 249 observations. The data reached an all-time high of 8,703.000 Unit in Aug 2015 and a record low of 2,169.000 Unit in Apr 2020. Chile Real Estate Market: National: Sales: Total data remains active status in CEIC and is reported by Chilean Construction Chamber. The data is categorized under Global Database’s Chile – Table CL.EB001: Real Estate Market: Supply and Sales. [COVID-19-IMPACT]
Codebooks for analyzing property (house, condo, flat, etc.) listing data for each of the 10 select regions in the bay area megaregion of California, USA (SAN JOSE, MODESTO, FRESNO, TURLOCK, LIVINGSTON, ATWATER, MERCED, MADERA, MARIPOSA, OAKHURST) were obtained from Zillow Inc. on a monthly basis between March 2018 and May 2019 (denoted as the period before 2020) and May 2020 and September 2021 (after 2020). Combined, the total number of observations (unique listed properties) is N = 57,414. For each month, we obtained a set of unique listing identifiers (ZPID) by manually scanning across the entire Zillow.com directory for a given region and property type (“For Sale†and “Rent†). Read the enclosed document DataDryad_DataDescription_Petersen_Zillow.pdf for a description of the data and output of provided supporting code. Contact the corresponding author for the raw property-level data files, which are anonymized [property address and property identifier (ZPID) fields]., We used the open-access Zillow Inc. GetSearchResults API to sample house data for each ZPID in accordance with daily API call limits. For more information on the API see the official documentation page: https://www.zillow.com/howto/api/GetSearchResults.htm. We anonymized the property address and ZPID fields. , Programs required: Mathematica 11 (or later version) and STATA 13 (or later version). The workflow for executing Mathematica notebooks is simply Shift+Enter to execute commands contained in any given cell; the initial cells upload the data files, and from there the notebook cells should be executed from start to end in linear order., # Zillow property-level data panel for select California cities before and after 2020
Codebooks for analyzing property (house, condo, etc.) listing data for 10 select regions were obtained from Zillow Inc. on a monthly basis between March 2018 and May 2019 (denoted as the period before 2020) and May 2020 and September 2021 (after 2020). For each month, we obtained a set of unique listing identifiers (ZPID) by manually scanning across the entire Zillow.com directory for a given region and property type ("For Sale" and "Rent"). Combined, the total number of observations (unique listed properties) is N = 57,414.
All data files are provided in CSV (comma separated value) format. See DataDryad_DataDescription_Petersen.pdf for data file structure details. Contact the corresponding author for the raw property-level data files, which are anonymized [property address and property identifier (ZPID) fields]. Â
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Sweden Business Survey: COVID-19 Effect: SO: Services: Real Estate (RE): Response Rate data was reported at 44.000 % in 11 Aug 2021. This records an increase from the previous number of 39.000 % for 15 Jul 2021. Sweden Business Survey: COVID-19 Effect: SO: Services: Real Estate (RE): Response Rate data is updated daily, averaging 44.000 % from May 2020 (Median) to 11 Aug 2021, with 19 observations. The data reached an all-time high of 67.000 % in 10 Feb 2021 and a record low of 13.000 % in 29 Jul 2020. Sweden Business Survey: COVID-19 Effect: SO: Services: Real Estate (RE): Response Rate data remains active status in CEIC and is reported by National Institute of Economic Research. The data is categorized under Global Database’s Sweden – Table SE.S009: Business Survey: COVID-19 Effect: Seizing Operations (Discontinued).
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According to Cognitive Market Research, the global Real Estate Services market size will be USD 100254.6 million in 2024. It will expand at a compound annual growth rate (CAGR) of 5.50% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 40101.84 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 30076.38 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 23058.56 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.5% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 5012.73 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 2005.09 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.
The Residential Type held the highest Real Estate Services market revenue share in 2024.
Market Dynamics of Real Estate Services Market
Key Drivers for Real Estate Services Market
Increasing focus on sustainability and environmentally-friendly buildings to Increase the Demand Globally
The increasing focus on sustainability and environmentally-friendly buildings is driving the Real Estate Services Market as businesses and consumers seek properties that reduce environmental impact and energy costs. Green buildings, which adhere to eco-friendly standards, are becoming more attractive due to their long-term cost savings, health benefits, and regulatory incentives. Real estate services must adapt to this trend by offering expertise in sustainable development, energy efficiency, and green certifications. Additionally, investors are prioritizing environmentally responsible properties to meet corporate social responsibility goals, further fueling demand for specialized real estate services. This shift is creating new opportunities and driving growth in the market as sustainability becomes a key consideration in real estate decisions.
Rising population levels to Propel Market Growth
Rising population levels are driving the Real Estate Services Market by increasing demand for housing, commercial spaces, and infrastructure. As populations grow, particularly in urban areas, the need for residential properties intensifies, leading to more real estate transactions, development projects, and property management needs. Additionally, growing populations stimulate economic activity, creating demand for offices, retail spaces, and industrial properties. This growth translates into higher demand for real estate services such as brokerage, property management, and valuation. Real estate companies also benefit from increased construction and development activity, as they provide essential services for planning, financing, and marketing new projects. Overall, population growth creates sustained demand across all segments of the real estate market, driving the need for professional services.
Restraint Factor for the Real Estate Services Market
High Initial Costs to Limit the Sales
High initial costs are restraining the Real Estate Services Market by making it difficult for potential buyers and investors to enter the market. Purchasing or developing real estate involves significant upfront expenses, including land acquisition, construction, legal fees, and financing costs. These high costs can be a barrier, especially for first-time buyers, small businesses, or developers with limited capital. Additionally, the requirement for substantial down payments and the rising costs of building materials and labor further exacerbate the financial burden. This financial strain reduces the number of transactions and developments, leading to lower demand for real estate services such as brokerage, consulting, and property management. Consequently, high initial costs limit market expansion and restrict the growth of service providers.
Impact of Covid-19 on the Real Estate Services Market
The COVID-19 pandemic significantly impacted the Real Estate Services Market, causing disruptions and accelerating shifts in industry trends. Lockdowns and economic uncertain...
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Brazil Residential Real Estate Market Report is Segmented by Type (Villas and Landed Houses and Apartments and Condominiums). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.
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According to Cognitive Market Research, the global Logistics Real Estate market size will be USD 101254.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 6.20% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 40501.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 30376.26 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 23288.47 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.2% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 5062.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.6% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 2025.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.9% from 2024 to 2031.
The Warehouses is the fastest growing segment of the Logistics Real Estate industry
Market Dynamics of Logistics Real Estate Market
Key Drivers for Logistics Real Estate Market
E-commerce Boom to Boost Market Growth
The fast upward push of e-trade has considerably extended demand for Logistics Real Estate. As online outlets increase their operations to satisfy client expectations for brief and efficient delivery, the need for added warehousing area has ended up crucial. This surge in calls drives investments in logistics centers, allowing retailers to keep larger inventories and streamline distribution tactics. Consequently, the logistics real estate area is experiencing a sturdy boom, characterized by the development of modern warehouses prepared by superior generations. This trend highlights the important function of logistics in assisting the evolving panorama of online retail and making sure of timely product shipping.
Supply Chain Optimization to Drive Market Growth
Companies are prioritizing delivery chain optimization to decrease fees and enhance operational performance. This fashion is driving investments in present-day logistics facilities, which can be strategically located to facilitate faster distribution and higher accessibility to key markets. These facilities are frequently equipped with the advanced era, inclusive of automation, actual-time monitoring structures, and facts analytics tools, allowing groups to streamline their strategies, improve inventory management, and respond rapidly to market needs. By optimizing their supply chains through those investments, groups can attain extra agility, lessen lead times, and ultimately enhance customer satisfaction in a more and more competitive landscape.
Restraint Factor for the Logistics Real Estate Market
Land Availability and Costs, will Limit Market Growth
The availability of appropriate land for logistics development, especially in urban areas, provides massive challenges. As e-commerce and supply chain needs grow, the competition for restrained land intensifies, leading to better prices, which can avoid marketplace growth. Urban locations are especially admired for their proximity to clients. However, zoning policies and current infrastructure constraints often complicate the acquisition technique. This scarcity no longer drives up expenses for builders but additionally influences the overall logistics quarter's capacity to amplify and meet rising demand successfully. Consequently, corporations have to navigate those challenges to secure strategic locations for their operations.
Impact of Covid-19 on the Logistics Real Estate Market
The COVID-19 pandemic had a profound effect on the Logistics Real Estate market. As e-trade surged due to lockdowns and social distancing measures, calls for logistics centers skyrocketed, prompting corporations to invest in warehousing and distribution facilities to satisfy multiplied online shopping needs. Conversely, some sectors confronted temporary disruptions main to an initial slowdown in new traits. Supply chain challenges, which include delays and rising fabric costs, also emerged. However, the long-term outlook stays tremendous, with companies spotting the importance of strong logistics networks, in the long run...
In April 2021, the shopper traffic volume in the U.S. physical retail sector was nearly 30 percent lower when compared to April 2019, as the retail sector was still being affected by the coronavirus (COVID-19) pandemic. In August 2021, footfall in the United States was roughly 24 percent lower compared to two years earlier.
In May 2020, 34 percent of U.S. realtors said that home buyers delayed the process for a couple of months due to the COVID-19 pandemic, and 19 percent said their clients stopped looking for a new home due to concern about job or loss of job. At the same time, more than 20 percent reported that their clients continued to meet up with them in person and look for new home despite the ongoing pandemic.
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Codebooks for analyzing property (house, condo, flat, etc.) listing data for each of the 10 select regions in the bay area megaregion of California, USA (SAN JOSE, MODESTO, FRESNO, TURLOCK, LIVINGSTON, ATWATER, MERCED, MADERA, MARIPOSA, OAKHURST) were obtained from Zillow Inc. on a monthly basis between March 2018 and May 2019 (denoted as the period before 2020) and May 2020 and September 2021 (after 2020). Combined, the total number of observations (unique listed properties) is N = 57,414. For each month, we obtained a set of unique listing identifiers (ZPID) by manually scanning across the entire Zillow.com directory for a given region and property type ("For Sale" and "Rent"). Read the enclosed document DataDryad_DataDescription_Petersen_Zillow.pdf for a description of the data and output of provided supporting code. Contact the corresponding author for the raw property-level data files, which are anonymized [property address and property identifier (ZPID) fields].
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The importance of real estate development has been widely accepted by all countries. Through early warning and avoidance of real estate financial risks, it can effectively promote the healthy and healthy development of the real estate industry, avoiding the impact of accidental factors, such as the COVID-19 pandemic, and promoting the overall economic development. Based on multiple regression analysis and grey prediction methods, this article constructs a real estate financial risk estimation model, and the real estate financial risk is estimated using the relevant data of Liaoning Province from 2001 to 2020. Analyzing the research results of financial risks in Liaoning Province, we can find that the real estate financial risks reached the peak in 2013, and then the real estate financial risks gradually showed a slow decline trend. In general, the financial risks in Liaoning Province are controllable. The study of financial risks in Liaoning Province will help to judge the development of the real estate industry and promote the continuous improvement of the overall economy. The article, through the study of real estate financial risks in Liaoning Province, can promote the development of regional real estate in Liaoning Province and promote the overall economic development of Liaoning Province, which has strong practical significance. The study of real estate financial risks, relevant risk research theories can be enriched, the identification of financial risks can be improved, and the study of real estate financial risks can be strengthened. The article uses a combination of multivariate statistics and grey fuzzy theory to complete the study of real estate financial risks. Therefore, through the exploration of multivariate statistics and grey fuzzy theory, its application value can be elevated.
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According to Cognitive Market Research, the global Real Estate Portfolio Management Software Solution market size will be USD 1684.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 5.50% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 673.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 505.26 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 387.37 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.5% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 84.21 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 33.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.
The ERP is the fastest growing segment of the Real Estate Portfolio Management Software Solution industry
Market Dynamics of Real Estate Portfolio Management Software Solution Market
Key Drivers for Real Estate Portfolio Management Software Solution Market
Growing Complexity of Real Estate Portfolios to Boost Market Growth
The increasing complexity of actual property portfolios, driven by means of the upward thrust of diverse asset sorts, regulatory necessities, and cross-border investments, is fueling the growth of the actual property portfolio control software answer marketplace. Investors and property managers are trying to find superior tools to streamline operations, manage dangers, and optimize performance. These answers provide real-time analytics, centralized information, and automation for coping with multifaceted portfolios. As real property markets evolve, the demand for classy software that complements decision-making guarantees compliance, and improves efficiency is rising, leading to a sturdy increase in this marketplace zone across numerous regions
Need for Data-Driven Decision Making to Drive Market Growth
The developing want for information-driven selection-making is driving the enlargement of the real estate portfolio management software solution marketplace. Investors and belonging managers are increasingly counting on advanced software to analyze vast amounts of statistics for optimizing funding techniques, forecasting tendencies, and improving asset performance. These structures provide real-time insights, predictive analytics, and reporting capabilities that assist extra informed choices, reducing risks and enhancing profitability. As the real property quarter turns into greater aggressive and complicated, the call for software solutions that leverage statistics to maximize returns and performance is swiftly increasing, boosting market increase.
Restraint Factor for the Real Estate Portfolio Management Software Solution Market
High Initial Cost, will Limit Market Growth
The high initial value of implementing a real property portfolio control software program is a huge barrier to the marketplace boom. Many small and mid-sized real estate firms hesitate to spend money on those solutions because of the great upfront expenses related to licensing, customization, and integration. Additionally, ongoing costs for schooling, renovation, and enhancements can stress budgets, especially for groups with restrained assets. These economic constraints discourage adoption, even though the long-term blessings of improved selection-making and operational performance are clean. As a result, the excessive value of access is slowing the general expansion of the actual estate portfolio management software marketplace.
Impact of Covid-19 on the Real Estate Portfolio Management Software Solution Market
The COVID-19 pandemic increased the adoption of actual estate portfolio management software as companies sought virtual solutions to navigate market disruptions. Remote work, fluctuating belongings values, and extended tenant needs heighten the need for actual-time facts, analytics, and automation. However, financial constraints at some stage in the pandemic slowed new investments in software programs, spec...
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According to Cognitive Market Research, The Global Property Management Service market was estimated at USD 14.5 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 7.8% from 2023 to 2030. Rising Demands for SaaS-based Property Management Software to Expand Market Penetration
Subscription-based SaaS solutions benefit companies of all sizes. Businesses increasingly use SaaS solutions to optimize operations by automating workflows and removing manual input. Businesses can also lower the cost and complexity of on-premises deployment by installing SaaS solutions. SaaS software assists large multifamily property management organizations integrate several technologies across their portfolio. In addition, the SaaS model is crucial for multi-vendor device compatibility with legacy systems.
For instance, Planon collaborated with AddOnn in March 2021 to combine AddOnn's SaaS solution with Planon's software platform for building and service digitalization to provide end-to-end solutions to end-users worldwide.
(Source:planonsoftware.com/uk/news/planon-and-addonn-launch-partnership-with-introduction-of-mobile-cleaning-solution/)
Employees in real estate organizations rely on up-to-date information to make vital decisions. SaaS systems allow users to access information from any location and device with internet connectivity. A SaaS platform can help property managers link their property solutions with sophisticated payment services for quick and easy transactions.
Evolving Trends of Workforce Mobility to Strengthen Market Share
Many employees nowadays prefer to work from home rather than in offices, corporate headquarters, or a global company branch. This contributes to the need for flexible access to office resources and data. Besides, organizations are using virtual workplaces to reduce their physical infrastructure requirements to a bare minimum, allowing them to be more flexible and use their office space better. Many businesses seek mobility, workplace, and other integrated facility management solutions. This enables property managers to retain productivity while working with a huge crew. These solutions can be used by associated real estate agents & property managers to maintain track of all the properties they manage and the routine maintenance that needs to be performed on them. As a result, the rising trend of workplace mobility is propelling the property management service industry forward.
For instance, Entrata Inc. reported the integration of Alexa with residential buildings in April 2021. This integration would enable property managers to monitor or set up Alexa-enabled devices in each unit, allowing them to create voice-controlled automated homes.
Market Dynamics of Property Management Service
Integration Complexity and Data Security Concerns to Limit Market Growth
One significant restraint property management software services face is the complexity of integrating with existing systems and databases. Many property management companies already have established tools for accounting, tenant communication, maintenance tracking, and more. Implementing new software solutions can lead to compatibility challenges and difficulties in transferring data seamlessly. Furthermore, as property management software handles sensitive information such as tenant details, financial records, and property documents, ensuring robust data security becomes critical. Any breaches or unauthorized access can lead to legal consequences, financial losses, and company reputation damage.
Impact of COVID-19 on the Property Management Service Market
The COVID-19 pandemic significantly impacted the property management service market, introducing shifts in tenant behavior, remote work trends, and economic uncertainties that prompted property managers to adapt their strategies. Lockdowns and travel restrictions decreased demand for short-term rentals, while remote work trends increased the significance of property amenities and flexible leasing options. Property managers incorporated virtual tours, contactless services, and enhanced sanitation measures to address safety concerns. Moreover, the pandemic accelerated the adoption of proptech solutions for remote property monitoring and digital communication, reshap...
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According to Cognitive Market Research, the global Property Management Software market size will be USD 22651.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 10.60% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 9060.60 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.8% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 6795.45 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 5209.85 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.6% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 1132.58 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.0% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 453.03 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.3% from 2024 to 2031.
Rental and Tenant Management is the dominant market segment
Market Dynamics of Property Management Software Market
Key Drivers for Property Management Software Market
Increasing Adoption of Technology
The rising incorporation of technology in property management software has surged the growth of the property management software market. The basic need is to make property managers realize the value of these tech solutions in smoothing operations, relating better with tenants, and using modern procedures to track financials and create newer methods for managing property. With data analytic features and mobile accessibility, these software tools automate many of the responsibilities for a property manager to execute his duties effectively. The trend is that property management software is fast becoming the simplest requirement for modern property management practices, especially in an increasingly technical environment.
Rising Real Estate Investments
Real estate investment is another driver of the Property Management Software market. The more money that investors pour into the real estate sector, the greater the demand for robust property management solutions. Owners and real estate managers are thus eyeing software tools to optimize operations, enhance tenant experiences, and maximize returns on investment. The growing real estate market creates a demand for advanced technology to manage properties effectively, track financial performance, and ensure that it comply with the regulations; all these factors drive market growth as property management software is increasingly applied to tackle intricacies involved in an increasingly large portfolio of real estate.
Restraint Factor for the Property Management Software Market
Data Security Concerns
Data Security Concerns are a significant restraint to the growing Property Management Software market. With increasing property management operations being operated on digital platforms, data breaches and cyber threats become a worrisome issue for property owners and managers. The concerns over the protection of sensitive information, such as tenant details, financial records, and property data, discourage the adoption of property management software. These security flaws need to be addressed to develop trust in software solutions, and this lack of trust in these products could impact market growth with potential users unwilling to adopt software without stringent security measures.
Impact of Covid-19 on the Property Management Software Market
The COVID-19 pandemic had a global impact, causing significant disruptions in real estate firms. Short-term issues for real estate management included keeping visitors and residents safe, maintaining property value, employing modern cleaning processes, and conforming to regulatory regulations. Furthermore, many schools and offices were closed, forcing businesses to consider various "work-from-home" possibilities. The COVID-19 outbreak prompted residential property managers to reconsider their policies. As a result, smart processes and AI-based solutions saw significant growth in popularity. Introduction of the Property Management Software Market
Property management software is a comprehensive solution for property managers, l...
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Key information about Japan Gold Production
Accelerated Russian ruble devaluation, caused by the coronavirus (COVID-19) expansion and sinking oil prices, generated an increasingly popular fear of a possible mortgage rate growth in the country. Consequently, the residential real estate demand growth led to increased prices in the secondary market. The highest increase was marked in Krasnoyarsk at two percent, while Moscow made it in the top three with a 1.5 percent increment on average.
For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Facts and Figures page.
The coronavirus (COVID-19) outbreak, which was aggravated by a drastic reduction in oil prices, led to a significant devaluation of the Russian ruble in March 2020. Consequently, in the view of a possible interest rate increase on mortgage loans, a notable demand growth on real estate was recorded countrywide. The estimated average demand increase in 2020 relative to 2019 was measured between 12 and 15 percent.
For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Facts and Figures page.