One of the expected impacts of the coronavirus (COVID-19) that brought the world to a halt in the first quarter of 2020 is the disruption to normal business activities and supply chains. The effect spreads through various industries and with the assumption of a ********* delay in construction activities, the forecast suggests property completions planned for 2020 in cities in the United Kingdom (UK) could decrease by more than *********, leading up to more completions in 2021 than originally planned. For more information on the Statista coverage of the coronavirus in the UK, see our report.

In a follow-up to his September article, “Commercial Banks Aid Canada’s Housing Market,” Lead Analyst Samuel Kanda explores deeper issues with Canada’s real estate market.

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 (** percent). However, Hispanic respondents were more likely to have changed their plans (** percent) compared to white respondents (** percent). In the United States, the 2020 homeownership rate reached **** percent.

We’ve examined how pandemic-related to disruption to office working, retail operations and the hospitality sector has affected the real estate market.

According to Cognitive Market Research, the global Real Estate Sector market size was USD 3625.5 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 1450.20 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 1087.65 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 833.87 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 181.28 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 72.51 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.
The Commercial real estate is the fastest-growing segment, driven by economic development, urbanization, and a shift toward modern, multi-use spaces

Market Dynamics of Real Estate Sector Market

Key Drivers Real Estate Sector Market

Urbanization and Population Growth Fueling Demand: The increase in urban migration is driving the need for residential, commercial, and industrial properties. The development of megacities, improved infrastructure, and rising disposable incomes are contributing to the growth of the real estate sector. For instance, the Reserve Bank of India’s low interest rates in 2021 significantly boosted housing demand by 35–40% during the festive period.

Economic Growth and Rising Incomes Facilitating Market Expansion: A robust economy and increasing income levels are allowing for more substantial investments in real estate. The development of infrastructure, enhanced investor confidence, and capital inflows are further driving demand across the residential, commercial, and industrial property sectors.

Key Restraint Real Estate Sector Market

High Construction Costs Impeding Market Growth: The escalating costs of raw materials and labor shortages are raising project expenses and causing delays. Global supply chain disruptions and inflation are also impacting profit margins and making housing less affordable, which in turn is hindering real estate activity.

Key Trends for Real Estate Sector Market

Smart Cities and Sustainable Infrastructure Development: Governments and developers are focusing on smart city initiatives that include green buildings, energy-efficient designs, and technology-integrated infrastructure, thereby improving livability and long-term value in urban real estate markets.

Increasing Demand for Mixed-Use Developments: There is a growing consumer preference for integrated spaces that combine residential, retail, and office units. This trend is transforming urban planning and generating demand for multi-functional real estate projects that cater to convenience and contemporary lifestyles.

Impact of Covid-19 on the Real Estate Sector Market

Covid-19 pandemic significantly impacted the real estate sector, leading to shifts in both demand and operational dynamics. During the early phases of the pandemic, lockdowns and economic uncertainties caused a slowdown in construction activities, delays in project completions, and a decline in property transactions. The residential market experienced a surge in demand for larger homes and properties in suburban areas as people sought more space due to remote work trends. On the other hand, the commercial real estate market, especially office spaces, faced challenges with businesses adopting remote work models, resulting in a reduced demand for office buildings. Introduction of the Real Estate Sector Market

The real estate sector encompasses the development, buying, selling, leasing, and management of land, residential, commercial, and industrial properties. It is a dynamic market driven by a complex mix of factors, including economic conditions, urbanization, demographic shifts, and government policies. Market growth in the real estate sector is primarily influenced by factors such as population growth, increasing urbanization...

In a September 2020 survey among adults in the United States, many respondents said that the COVID-19 pandemic did not change their interest in buying a home. Millennials were most likely to have changed their homeownership plans: ** percent of Millennials were more interested in buying a home due to the COVID-19 pandemic compared with **** percent of Baby Boomers.In the United States, the 2020 homeownership rate reached **** percent.

The Scandinavian residential real estate market size is anticipated to expand at significant CAGR during forecast period 2021–2028. Growth of the market is attributed to rapid urbanization, rapid development in Scandinavian countries, strict regulation by government on zoning, and rising immigration.

For groups of people, individuals, and families the houses are built under residential real estate. The residential type contains townhouses, single-family homes, condominiums, apartments, and other types of living arrangements. The permanent improvements such as bridges, water, fences, trees, homes, minerals, and buildings attached to the land, made by naturally & humans including real estate. Raw land, commercial, residential, industrial, and special uses are five main categories of real estate.



The covid-19 pandemic impacted the Scandinavian residential real estate market. Decreasing supply of raw materials, lockdown across the globe, and supply chain disorders forced companies to close down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.

Scandinavian Residential Real Estate Market Trends, Drivers, Restraints, and Opportunities

• Increasing number of household development project is estimated to boost the market.


• Rapid innovations in construction sector are the major factor fueling the market.


• Lack of awareness about residential real estate is projected to restrict the market expansion during the forecast period.


• High price of services is anti

Residential real estate transactions saw both a decline as well as an increase during the coronavirus pandemic in 2020, depending on the country. In Denmark, for example, property sales increased by over ***** percent year-on-year in the second quarter of 2020. This was in stark contrast to the United Kingdom, where provisional and non-seasonal data suggested the country saw one of its largest drops in housing transactions since 2009. Some countries, on the other hand, already witnessed a decrease in their transactions before COVID-19 hit Europe. The housing trade inFrance, for example, suffered a large decrease in the first quarter of 2020, right before quarantine measures were enforced. Data for Germany, on the other hand, suggested that its housing market was still growing before the lockdown. Whether this was still the case in 2020 remains to be seen.

The Spain residential real estate market size was USD 145.18 Billion in 2022 and is likely to reach USD 264.67 Billion by 2031, expanding at a CAGR of 6.9% during 2023–2031. The growth of the market is attributed to the increase in construction as well as population.

Spain’s real estate market is posting a positive trend, especially in terms of demand. The revival in house sales was high in 2021. For instance, 468,000 transactions were completed by October 2021, a growth of 35.9% compared to 2020 and up by 8.3% on 2019. The activity in the residential sector was highest since 2008. A large part of this revival in demand has come from a reduction in pent-up demand and the forced savings accumulated during the months of lockdown and severely restricted travel, combined with highly favorable financing conditions, which make it more attractive to buy and invest in real estate assets. The residential sector is therefore on track to close 2021 with 545,000 sales in the year as a whole.

Before the pandemic began, the residential real estate market in Spain was growing at a healthy pace, which was then dented by Covid-19 as the construction of housing units came down. However, in 2021, the market was back on track with increase in construction.



As per the latest data from the Appraisal Society, it indicates that the price of new housing has remained stable, in a context of increased sales and improvement in economic indicators. The average price of new homes has grown 0.4% in Spain over the last 12 months to Euro 2,482 (approximately USD 2812) per square meter. This slight increase has been generalized and has been registered in 16 of the 17 autonomous communities.



The economic consequences of the Covid crisis made a dent in the real estate market, and has reflected in the 16.7% collapse of sales in Spain in 2020 to 419,898 transactions. As a result, experimental ways of life are introduced into the real estate market to compensate for the lack of social interaction between people.

Spain Residential Real Estate Market Trends, Drivers, Restraints, and Opportunities

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Indonesia Residential Real Estate Market Outlook 2031:

The Indonesia residential real estate market size was valued at USD 61.88 Billion in 2022 and is projected to reach USD 123.18 Billion by 2031, expanding at a CAGR of 7.95% during the forecast period 2023 - 2031. The growth of market is attributed to increasing young population, rapid urbanization, complimentary demographic configuration, and increasing per capital income of population.

The legal authorities of Indonesia has taken an initiatives towards the development of the country by introducing One Million Houses (OMH) programs, the program focuses on construction of at least 1 million units per year around 1.11 millions are constructed in the year 2018.

This programs main objective is to cater the lack of investment in the property market and reduce the 7.4 million shortage of housing investment to around 5.2 million. By this year they majorly aim at catering the pile-up demand of the country first.



There is a significant demand in the rise of residential property among the population in both the segments land and vertical housing, and after the government interference with the initiatives and favorable policies it is expected more to increase.



The real estate industry looks at renting and leasing of properties it is valued by the total revenue generated by landlord through renting council and private properties and is calculated using average rent multiplied by the number of rented properties.



The covid-19 pandemic impacted the residential real estate market. Decreasing supply of raw materials, lockdown across the globe, and supply chain disorders forced companies to close down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.

United Kingdom Residential Real Estate Market is Segmented by Property Type (Apartments and Condominiums, and Villas and Landed Houses), by Price Band (Affordable, Mid-Market and Luxury), by Business Model (Sales and Rental), by Mode of Sale (Primary and Secondary), and by Region (England, Scotland, Wales and Northern Ireland). The Market Forecasts are Provided in Terms of Value (USD)

Turkey Residential Real Estate Market Outlook 2031

The Turkey residential real estate market size was USD 79.92 Billion in 2022 and is projected to reach USD 212.88 Billion by 2031 expand at a CAGR of 11.5% during the forecast period, 2023–2031. The growth of the market is attributed to the increasing surge in foreign buyer, rising population, affordable financing options.



Turkey is known for its diverse set of both oriental and European elements, country is a lucrative destination due to its tourism, infrastructure, transportation facilities, and ease of living. Turkey is at a historical combination of aspects where urban transformation meets green housing which is expected to improve affordability and quality of housing and community development. According to Housing Development Administration of Turkey (TOKi) a total of 500,000 residential units were constructed between 2003-2010 in 81 provinces and 830 townships across the country.

In 2002 Turkish property market was first opened to foreign buyers under the reciprocity clause. According to this clause only countries allowing Turkish citizens reciprocal rights, such as Britain, Germany, and Netherlands. The reciprocity clause was abolished in 2012, and since then nationals from 183 countries have been allowed to buy properties in Turkey.



The residential real estate market in Turkey was impacted negatively by the onset of Covid-19 in 2020, the market has since regained some of the momentum due to ease of restrictions worldwide. According to Turkish Statistical Institute Turkish Statistical Institute (TurkStat) in the first four months of 2020, the total number of home sales in Turkey rose by 8.9% to 383,821 units.

Turkey Residential Real Estate Market Trends, Drivers, Restraints, and Opportunities

• Rising population, increasing urbanization, disposable income growth, and affordable financing are major factors driving the market growth during the forecast period.


• Increasing demand for residential real estate among the foreign buyers due to factor such as

The number of transactions in the residential real estate sector in Italy significantly decreased in the first quarter of 2020, as a result of the measures taken to prevent the spread of COVID-19. When looking at the ***** major Italian cities, it can be seen that the number of transactions decreased by almost ** percent on average in this period. It was found that the worst situation in Milan, Naples and Genoa, with each one of these cities facing a contraction around ** percent. Bologna stood up as the least affected in this group, with a relatively small decrease of *** percent in the volume of real estate transactions.

The Brazil Residential Real Estate Market Report is Segmented by Business Model (Sales and Rental), by Property Type (Villas & Landed Houses, Apartments & Condominiums), by Price Band (Affordable Housing, Mid-Market, and Luxury), by Mode of Sale (Primary (New-Build), and More), and by Key Cities (São Paulo, Brasília, and More). The Report Offers Market Size and Forecasts in Value (USD) for all the Above Segments.

Virtual Real Estate Market Outlook

According to our latest research, the global virtual real estate market size reached USD 1.3 billion in 2024, showcasing robust momentum in digital asset trading and immersive experiences. With a calculated compound annual growth rate (CAGR) of 32.8% from 2025 to 2033, the market is forecasted to attain a value of USD 14.2 billion by 2033. This impressive growth trajectory is primarily propelled by rising investments in metaverse platforms, the mainstream adoption of blockchain technology, and increasing consumer and enterprise interest in digital assets and virtual environments.

One of the most significant growth factors for the virtual real estate market is the rapid evolution and adoption of metaverse platforms. These platforms, such as Decentraland, The Sandbox, and others, are redefining how users interact, socialize, and transact in virtual spaces. The integration of blockchain technology ensures secure, transparent, and immutable ownership records, which has enhanced user confidence in purchasing and trading virtual land. Furthermore, as brands and corporations seek innovative ways to engage with digital-native audiences, they increasingly turn to virtual real estate for hosting events, launching products, and building immersive brand experiences. This trend is expected to accelerate as more industries recognize the potential of the metaverse for marketing, networking, and community building.

Another critical driver is the growing popularity of virtual events and experiences, particularly in the wake of global disruptions such as the COVID-19 pandemic. Virtual real estate offers unparalleled flexibility for hosting concerts, conferences, exhibitions, and social gatherings without the limitations of physical space. This transition to digital venues has not only reduced operational costs but has also expanded the reach to a global audience. The ability to customize, monetize, and scale these virtual spaces has attracted both individuals and enterprises, further fueling demand for virtual properties. Additionally, the gamification of real estate through play-to-earn models and NFT-based assets has introduced new revenue streams and investment opportunities, drawing the attention of crypto enthusiasts and traditional investors alike.

The expanding ecosystem of virtual real estate is also supported by advancements in hardware and software, including AR/VR headsets, 3D rendering engines, and decentralized finance (DeFi) protocols. These technological innovations enhance the user experience, making virtual environments more immersive and interactive. As interoperability between platforms improves, users can seamlessly transfer assets and identities across different virtual worlds, increasing the utility and value of virtual real estate. The convergence of social networking, gaming, and commerce within these digital spaces is creating a new paradigm for online interaction and economic activity, positioning virtual real estate as a cornerstone of the emerging digital economy.

Regionally, North America remains the dominant force in the virtual real estate market, driven by a strong technology infrastructure, high consumer awareness, and significant venture capital investments. The United States, in particular, hosts a vibrant ecosystem of metaverse startups, gaming companies, and blockchain innovators. Europe is also witnessing rapid adoption, especially in countries like the United Kingdom, Germany, and France, where enterprises are leveraging virtual spaces for marketing and collaboration. Meanwhile, the Asia Pacific region is emerging as a key growth engine, fueled by a young, tech-savvy population and increasing investment in digital transformation. As regulatory frameworks evolve and cross-border collaborations increase, these regions are expected to play pivotal roles in shaping the future of virtual real estate.

Platform Analysis

The platform segment in the virtual real estate market encompasses Metaverse, Gaming, Social Media, and Others, each playing a unique role in driving the adoption and monetization of virtual properties. Metaverse platforms, such as Decentraland, The Sandbox, and Cryptovoxels, have established themselves as foundational pillars for the virtual real estate ecosystem. These platforms offer users the ability to purchase, develop, and monetize virtual land using blockchain-based tokens, often represented as non-fungible tokens (NFTs). The immersiv

Commercial banks are expected to help the federal government deflate Canada’s housing bubble after the COVID-19 (coronavirus) pandemic.

Discover the booming global condominiums and apartments market! This in-depth analysis reveals a CAGR exceeding 3%, driven by urbanization and evolving lifestyles. Explore market size, regional trends, key players (Christie International, Lennar, Savills), and future growth projections for 2025-2033. Invest wisely with our comprehensive market insights. Recent developments include: October 2022: City Developments Ltd. (CDL), controlled by billionaire Kwek Leng Beng, is proceeding with the launch of a suburban residential condominium project in Singapore's western region, indicating its confidence that property demand will be sustained despite the government's new property curbs., June 2022: ALTIDO, a European property management company, has announced two mergers and acquisitions, including Flatty and A&A Apartments & Boats. It comes less than four months after ALTIDO was acquired by Italian living company DoveVivo, ensuring it emerged from the COVID-19 pandemic with a large injection of financing under its belt and the ability to expand its inventory by 51 properties through the combined acquisitions.. Notable trends are: Increasing Demand for Condominiums in Several Regions Driving the Market.

In this Economic Commentary , we compare characteristics of the 2000–2006 house-price boom that preceded the Great Recession to the house-price boom that began in 2020 during the COVID-19 pandemic. These two episodes of high house-price growth have important differences, including the behavior of rental rates, the dynamics of housing supply and demand, and the state of the mortgage market. The absence of changes in fundamentals during the 2000s is consistent with the literature emphasizing house-price beliefs during this prior episode. In contrast to during the 2000s boom, changes in fundamentals (including rent and demand growth) played a more dominant role in the 2020s house-price boom.

According to Cognitive Market Research, The Global Ready to Move in Luxury Homes Market size is USD 600.5 billion in 2023 and will grow at a compound annual growth rate (CAGR) of 8.0% from 2023 to 2030.

Remote work fueled demand for Ready to Move-in Luxury Homes, emphasizing dedicated offices and advanced amenities, creating synergy with the evolving work landscape.
The dominant category in the Ready to Move-in Luxury Homes market is the 1000-3000 square feet segment.
In the ready to move-in luxury homes market, luxury homes dominate.
North America will continue to lead, whereas the Europe Ready to Move in Luxury Homes Market will experience the strongest growth until 2030.

Market Dynamics of the Ready-to-Move-in Luxury Home Market

Remote Work and Low-Interest Rates Drive Surge in Demand for Ready-to-Move-in Luxury Home 

The advent of widespread remote work became a driving force for the ready-to-move-in luxury homes market. As companies embraced flexible work arrangements, professionals sought residences that catered to remote work needs. The cause-and-effect relationship unfolded as the demand for homes with dedicated office spaces, high-speed internet, and enhanced amenities surged. The market responded by prioritizing features conducive to remote work, such as spacious home offices and advanced technology infrastructure, creating a symbiotic relationship between the evolving work landscape and the flourishing luxury real estate sector.

Historic Low-Interest Rates Propel Demand for Ready to Move-in Luxury Homes

The ready to move-in luxury homes market experienced a boost driven by historically low-interest rates. As central banks implemented measures to stimulate economies amidst the pandemic, mortgage rates reached unprecedented lows. This led to increased buyer confidence and heightened affordability, catalyzing demand in the luxury real estate sector. The cause-and-effect relationship materialized as favorable financing conditions encouraged prospective buyers to invest in ready-to-move-in luxury homes, fostering a climate of increased transactions and market activity. Low-interest rates emerged as a pivotal driver shaping the positive trajectory of the luxury real estate market.

Restraints of the Ready-to-Move-in Luxury Homes

Supply Chain Disruptions and Construction Slowdown Impacting Ready-to-Move-in Luxury Homes Market

Supply chain disruptions emerged as a significant restraint in the ready to move-in luxury homes market. The cause-and-effect dynamic unfolded as the pandemic disrupted the flow of construction materials and labor, leading to a slowdown in construction activities. Delays in obtaining essential materials and the inability to secure skilled labor hindered project timelines. This restraint underscored the market's vulnerability to external factors affecting the construction industry, impacting the timely delivery of luxury homes and potentially dissuading prospective buyers who sought immediate occupancy.

Impact of COVID-19 on the Ready-to-Move-in Luxury Homes Market

The ready-to-move-in luxury homes market faced a dual impact from the COVID-19 pandemic. Lockdowns and economic uncertainties caused a slowdown in transactions and construction activities. However, as remote work gained prominence, there was a notable shift in demand toward spacious and well-equipped luxury homes. The market adapted by incorporating features like home offices and private amenities. Low interest rates further stimulated demand, leading to a rebound. Despite initial challenges, the pandemic catalyzed a transformation in the luxury real estate sector, aligning offerings with the evolving lifestyle preferences shaped by the new normal.

Opportunity for the growth of the Ready-to-Move-in Luxury Homes Market.

The increasing preference among affluent buyers for hassle-free, immediate occupancy solutions that combine convenience with high-end amenities.

One key opportunity for the growth of the ready-to-move-in luxury homes market lies in the increasing preference among affluent buyers for hassle-free, immediate occupancy solutions that combine convenience with high-end amenities. With rising disposable incomes and evolving lifestyles, especially among urban professionals, HNIs, and NRIs, there is a growing demand for premium properties that are fully constructed, elegantly designed, and equipped with smart home techno...

In response to the 2020 COVID-19 pandemic and its anticipated effects on the residential real estate market, the Cook County Assessor will adjust residential assessments. This data can be used to replicate residential COVID adjustments. Code can be located on GitLab. See data notes for link. NOTE that the 'adjusted values' in this data will not necessarily be consistent with each individual PIN's final assessment. To get the final assessment for an individual PIN, please visit www.cookcountyassessor.com.