The real estate investment trusts (REITs) market in the United States grew slightly in 2023, after plummeting in 2022. In 2023, the market cap of all REITs, including equity, mortgage, and hybrid, reached 1.37 trillion U.S. dollars. This was a decrease from the 1.74 trillion U.S. dollars recorded in 2021 when the market peaked. REITs are companies which own and operate real estate to generate income. U.S. REIT sector The number of REITs operating in the U.S. has fluctuated over the past 45 years, and in 2023 measured 195 firms. The number in operation has slightly fallen from its record high of 233 companies in 2015. REITs often specialize in a specific property type, with industrial and retail being the most popular asset types. Global dominance of American REITs The largest ten REITs worldwide were based in the United States in 2024. Prologis, a company specializing in logistics real estate, was the largest REIT globally in terms of market capitalization in that year.

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REIT Market Size 2025-2029

The reit market size is forecast to increase by USD 372.8 billion, at a CAGR of 3% between 2024 and 2029.

The market is experiencing significant growth driven by the increasing global demand for warehousing and storage facilities. This trend is fueled by the e-commerce sector's continued expansion, leading to an increased need for efficient logistics and distribution networks. An emerging trend in the market is the rise of self-storage as a service, offering investors attractive returns and catering to the growing consumer preference for flexible and convenient storage solutions. However, the market faces challenges as well. Vertical integration by e-commerce companies poses a threat to the industry, as these companies increasingly control the entire supply chain from production to delivery, potentially reducing the need for third-party logistics and storage providers. Additionally, regulatory changes and economic uncertainties can impact REITs' profitability and investor confidence. Companies seeking to capitalize on market opportunities and navigate challenges effectively must stay informed of these trends and adapt to the evolving landscape.

What will be the Size of the REIT 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.
Request Free SampleThe market continues to evolve, with various sectors such as retail, industrial, and commercial real estate experiencing dynamic shifts. Family offices, pension funds, high-net-worth individuals, and sovereign wealth funds increasingly invest in this asset class, seeking diversification and stable returns. Market volatility, driven by economic cycles and interest rate fluctuations, influences investment strategies. Artificial intelligence and property technology are transforming the industry, with data analytics and digital platforms streamlining property management, investment, and appraisal processes. Multifamily housing and single-family homes remain popular choices due to their rental income potential and capital appreciation opportunities. Property taxes, inflation risk, and maintenance costs are essential considerations for investors, requiring effective risk management strategies. Net operating income, return on equity, and occupancy rates are critical performance metrics. Regulatory environment and property regulations also impact the market, influencing capitalization rates and shareholder value. Institutional investors explore equity and debt financing, real estate brokerage, and securities offerings to capitalize on opportunities. Property investment platforms, real estate syndications, and property management companies facilitate access to diverse offerings. Green building standards and sustainable development are gaining traction, attracting socially responsible investors. The ongoing digital transformation of the real estate sector, including smart buildings and hybrid REITs, offers new investment opportunities and challenges. Investors must stay informed of market trends and adapt their strategies accordingly.

How is this REIT Industry segmented?

The reit 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. TypeIndustrialCommercialResidentialApplicationWarehouses and communication centersSelf-storage facilities and data centersOthersProduct TypeTriple netDouble netModified gross leaseFull servicePercentageGeographyNorth AmericaUSCanadaEuropeFranceGermanyItalyUKAPACChinaIndiaJapanSingaporeRest of World (ROW).

By Type Insights

The industrial segment is estimated to witness significant growth during the forecast period.The retail and industrial real estate sectors dominate the market, with industrial real estate leading in 2024. The industrial segment's growth is driven by the increasing demand for warehousing space due to the surge in e-commerce and online sales during the COVID-19 pandemic. Supply chain disruptions have compelled companies to lease more warehouse space to store additional inventory, leading to increased occupancy and rental rates. Furthermore, the proximity of fulfillment centers to metropolitan areas caters to the growing number of online consumers. This trend will continue to fuel the expansion of industrial REITs, offering significant growth opportunities for the market. Asset management companies, pension funds, and high-net-worth individuals are increasingly investing in REITs for their attractive dividend yields and potential for capital appreciation. Private equity firms and family offices are also active players in the market, providing equity financing for REITs. Real estate agents and brokers facilitate transactions, while debt

The FTSE Nareit All Equity REITs index is a free-float adjusted, market capitalization-weighted index of equity real estate investment trusts (REITs) in the United States. As of December 2024, the market cap of the index was *** trillion U.S. dollars, up from *** trillion U.S. dollars in December 2021. To be included in the index, the 140 constituents have to have more than ** percent of total assets in qualifying real estate assets other than mortgages secured by real property. Infrastructure, residential, and retail real estate are the largest REIT segments: Retail real estate REITs had a market cap of *** billion U.S. dollars as of December 2024, while industrial had a market cap of almost ***** billion U.S. dollars. The number of REITs has remained fairly constant in recent years, but the market cap has increased notably.

The Real Estate Investment Trust (REIT) industry has witnessed significant transformation with the surge of data center REITs as a crucial asset class. Demand for hyperscale and edge computing facilities has been propelled by advancements in technologies such as artificial intelligence (AI) and 5G, supported by industry giants like Digital Realty and Equinix. Office REITs are recovering, facilitated by up-cycling in 2024 because of more significant leasing activity and return-to-office mandates. Strategically placed office spaces in urban cores are seeing increased demand, boosting property valuations and lease renewals, instilling renewed investor confidence in REITs. Through the end of 2025, industry revenue climbed at a CAGR of 0.9% to $243.7 billion, including a 4.4% gain in 2025 alone, when profit will reach 23.5%. The REIT industry has also seen marked consolidation activity. Despite elevated interest rates, publicly traded REITs raised $84.7 billion in 2024, signaling a strong appetite for acquisitions and displaying the benefits of having scope, scale and a robust operating platform. A strong PropTech adoption trend is evident, with AI, IoT and blockchain integrated into property operations to improve efficiency, reduce costs and enhance tenant experiences. This drive toward innovation helps the industry to better navigate economic challenges like elevated interest rates and inflation. Through the end of 2030, the REIT industry is expected to see favorable developments. Interest rates are expected to moderate over the next five years, easing borrowing costs for REITs and positively affecting their acquisitions and development strategies. Demand for healthcare-related properties will strengthen because of an aging US population and healthcare REIT's position as a resilient sector. The importance of data centers as a REIT asset class will gain, driven by the continuous advancements in AI and increased data operation transfers to the cloud. With an environment conducive to mergers and acquisitions, consolidation will continue, creating fewer but more substantial REITs that are better armed to navigate economic uncertainties and capitalize on sector-specific tailwinds. Industry revenue will climb at a CAGR of 1.6% to $264.0 billion through the end of 2030.

North America REIT Market size was valued at USD 282.5 Billion in 2024 and is projected to reach USD 344.2 Billion by 2031, growing at a CAGR of 2.50% from 2024 to 2031.

North America REIT Market Drivers

Strong Economic Growth: A healthy economy with low unemployment and rising consumer confidence drives demand for real estate across various sectors, benefiting REITs. Favorable Interest Rate Environment: Historically low-interest rates have made borrowing costs for REITs more affordable, enabling them to expand their portfolios and pursue acquisitions. Investor Interest: REITs offer attractive investment opportunities for investors seeking stable income streams and diversification benefits. Technological Advancements: Technological advancements in areas like property technology (PropTech) are enhancing operational efficiency, improving tenant experiences, and creating new revenue streams for REITs.

The size of the North America REIT Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 2.50% during the forecast period. The North America Real Estate Investment Trust (REIT) market comprises publicly traded companies that own, operate, or finance income-producing real estate across various property sectors, including residential, commercial, industrial, healthcare, and infrastructure. Established primarily in the United States and Canada, REITs allow individual investors to invest in large-scale, income-generating real estate assets without directly owning the property. REITs are attractive to investors due to their potential for steady income through dividends, as they are legally required to distribute a substantial percentage of their taxable income to shareholders. Additionally, they offer a way to diversify portfolios with real estate exposure while maintaining liquidity through public markets. Several factors drive the North American REIT market, including economic growth, urbanization, and shifts in demographics, which influence demand for different types of real estate assets. For instance, trends such as the rise of e-commerce have significantly increased the demand for industrial and logistics spaces, while demographic changes support the growth of residential REITs, particularly in multifamily and senior housing sectors. REITs also offer tax advantages, making them appealing in the investment landscape, as well as a hedge against inflation, given real estate’s tangible asset backing. Key drivers for this market are: Fund Inflows is Driving the ETF Market. Potential restraints include: Underlying Fluctuations and Risks are Restraining the Market. Notable trends are: REITs prominence in Senior Housing & Care Market in United States.

According to Cognitive Market Research, the Global Real Estate Investment Trusts (REIT) market size will be USD XX million in 2024. It will expand at a compound annual growth rate (CAGR) of 5.00% 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 XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD XX million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.4% 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 XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031.
The industrial segment is the fastest-growing application in the REITs market, largely due to the rapid expansion of e-commerce and the demand for distribution centers and warehouses

Market Dynamics of Real Estate Investment Trusts (REIT) Market

Key Drivers for Real Estate Investment Trusts Reits Market

Growing Demand for Stable Income-Generating Assets to Boost Market Growth

The demand for stable income-generating assets is one of the key drivers of the Real Estate Investment Trusts (REITs) market. Investors increasingly seek predictable cash flows, especially in uncertain economic climates. REITs provide access to a diversified portfolio of income-producing properties, such as office buildings, shopping centers, and residential complexes, offering consistent dividends. This appeal is particularly strong among income-focused investors like retirees or those seeking to reduce risk. Additionally, REITs allow smaller investors to gain exposure to large-scale real estate investments without the need for substantial capital, further fueling market growth. For instance, in November 2023, 1031 Crowdfunding launched the Covenant Senior Housing REIT, Inc., which aims to create new ways for senior living investors to grow their holdings. The newly formed REIT stands as its own company, and 1031 is the REIT’s sponsor. With the launch, 1031 Crowdfunding focused on “exchange-type vehicles” and working with investors interested in “non-correlating assets who want to invest in senior housing”

Rise in Investor Interest for Diversification and Liquidity to Drive Market Growth

The growing desire for diversification and liquidity among investors has contributed to the expansion of the REITs market. Unlike direct property ownership, REITs provide liquidity as they can be traded on major stock exchanges, offering an attractive alternative for those looking for easier access to real estate investments without the complexities of managing properties. This liquidity makes REITs a highly attractive investment vehicle, especially in volatile markets. Furthermore, REITs enable investors to diversify their portfolios across different types of real estate assets, helping to mitigate risks and enhance returns in a well-balanced investment strategy.

Key Restraint for the Real Estate Investment Trusts Reits Market

Impact of Fluctuating Interest Rates to Hamper Market Growth

Fluctuating interest rates represent a significant restraint for the REITs market. When interest rates rise, the cost of borrowing increases, making it more expensive for REITs to finance property acquisitions or development projects. This can limit growth opportunities and reduce profitability. Additionally, higher interest rates tend to make fixed-income investments more attractive relative to REITs, which may cause a shift in investor preferences. The sensitivity of REITs to interest rate changes can lead to price volatility, which could deter some investors from entering or staying in the market, particularly those seeking stable returns. Introduction of the Real Estate Investment Trusts (REIT) Market

Real Estate Investment Trusts (REITs) are companies that own, operate, or finance income-producing real estate across a ...

American Tower, Welltower, and Prologis were the real estate investment trusts (REITs) worldwide with the largest market caps as of April 14, 2024. All three REITs were headquartered in the United States. If fact, out of the 30 largest REITs, only *** was headquartered outside the United States — **************************

According to Cognitive Market Research, the global Real Estate Investment Trust market size will be USD xx million in 2024. It will expand at a compound annual growth rate (CAGR) of 3.60% 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 XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 1.8% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD XX million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.6% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.0% 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 XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.3% from 2024 to 2031.
The Equity REITs is the fastest growing segment of the Real Estate Investment Trust industry

Market Dynamics of Real Estate Investment Trust Market

Key Drivers for Real Estate Investment Trust Market

Increasing Stable Income Generation to Boost Market Growth

Real Estate Investment Trusts (REITs) are acknowledged for their solid earnings era, making them attractive to investors searching out regular coins to go with the flow. They derive profits frequently from rental bills on properties inclusive of industrial homes, flats, purchasing facilities, and more. REITs are required, with the aid of regulation, to distribute a minimum of 90% of their taxable income to shareholders as dividends, ensuring a dependable move of income. This regular dividend payout makes REITs mainly attractive to earnings-focused buyers, which includes retirees or those searching out passive profits, while additionally imparting potential for capital appreciation over time.

Increasing Demand for Real Estate to Drive Market Growth

The increasing demand for actual property is fueled by way of international population increase, urbanization, and monetary development. As more humans circulate to towns and economies make bigger, the want for residential, industrial, and business residences rises. This growing demand leads to higher property values and rental earnings, reaping rewards for Real Estate Investment Trusts (REITs). With an assorted portfolio across sectors like retail, office areas, and housing, REITs are nicely positioned to capitalize on those trends. As asset expenses and condominium quotes grow, REITs can generate better returns for traders via both capital appreciation and consistent dividend payouts.

Restraint Factor for the Real Estate Investment Trust Market

Interest Rate Sensitivity, will Limit Market Growth

REITs are rather touchy to interest rate fluctuations due to their reliance on borrowed capital for property acquisitions and development. When hobby quotes upward push, borrowing prices grow, lowering REITs' profitability. Higher hobby prices can also make alternative profits-producing investments, like bonds, extra attractive, probably mainly to lower the call for REIT shares. Additionally, growing costs may suppress property values, in addition to impacting REIT's overall performance. Conversely, while interest charges are low, REITs gain from cheaper borrowing charges and greater favorable situations for property investments, improving their capability to generate returns and keep robust dividend payouts for traders.

Impact of Covid-19 on the Real Estate Investment Trust Market

The COVID-19 pandemic extensively impacted the Real Estate Investment Trust (REIT) marketplace, inflicting elevated volatility and shifts in calls across sectors. While some segments, like residential and business REITs, fared well because of sustained calls for housing and e-commerce, others, in particular retail and hospitality REITs, confronted enormous declines as lockdowns and travel restrictions reduced occupancy charges and apartment earnings. The pandemic improved tendencies towards remote paintings and online purchasing, reshaping the panorama for REIT investments and techniques shifting ahead. Market Overview

As per Cognitive Market Research, the global Re...

As of October 2024, the ten leading office real estate investment trusts (REITs) in the United States had a combined market capitalization of about 49 billion U.S. dollars. All REITs in the list experienced a decrease in market capitalization in 2023. The largest office REIT, Boston Properties, Inc., saw its market cap increase from 8.4 billion U.S. dollars to 12.7 billion U.S. dollars between October 2023 and October 2024.

United States - Wilshire US Real Estate Investment Trust Total Market (Wilshire US REIT) was 13181.06000 Index in May of 2024, according to the United States Federal Reserve. Historically, United States - Wilshire US Real Estate Investment Trust Total Market (Wilshire US REIT) reached a record high of 16010.98000 in December of 2021 and a record low of 97.15000 in January of 1978. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Wilshire US Real Estate Investment Trust Total Market (Wilshire US REIT) - last updated from the United States Federal Reserve on May of 2025.

In 2025, Equinix was the largest data center real estate investment trust (REIT) in the United States by market capitalization. The market cap of Equinix measured ***** billion U.S. dollars, about ** billion U.S. dollars higher than the second largest REIT Digital Realty. Over the past years, several notable acquisitions of data center REITs took place, including Blackstone's acquisition of QTS, KKR's acquisition of CyrusOne, and American Tower's acquisition of CoreSite.

Graph and download economic data for Real Estate Investment Trusts; Corporate and Foreign Bonds; Asset, Market Value Levels (BOGZ1LM643063005A) from 1945 to 2022 about REIT, market value, foreign, bonds, corporate, assets, and USA.

United States Assets: Flow: Real Estate Investment Trusts (REIT) data was reported at 39.763 USD bn in Sep 2018. This records an increase from the previous number of -3.777 USD bn for Jun 2018. United States Assets: Flow: Real Estate Investment Trusts (REIT) data is updated quarterly, averaging 0.011 USD bn from Dec 1951 (Median) to Sep 2018, with 268 observations. The data reached an all-time high of 130.084 USD bn in Jun 2013 and a record low of -44.248 USD bn in Dec 2008. United States Assets: Flow: Real Estate Investment Trusts (REIT) data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s United States – Table US.AB030: Funds by Sector: Flows and Outstanding: Real Estate Investment Trusts.

Graph and download economic data for Mortgage Real Estate Investment Trusts; Debt Securities; Asset, Market Value Levels (BOGZ1LM644022075A) from 1945 to 2024 about REIT, market value, mortgage, debt, securities, assets, and USA.

Graph and download economic data for Mortgage Real Estate Investment Trusts; Corporate Equities; Liability, Market Value Levels (BOGZ1LM643164105Q) from Q4 1945 to Q4 2024 about REIT, market value, equity, mortgage, liabilities, corporate, and USA.

The REIT (Real Estate Investment Trust) market, valued at $2304.30 billion in 2025, exhibits a steady Compound Annual Growth Rate (CAGR) of 2.87%, projecting robust growth through 2033. This expansion is fueled by several key drivers. Increasing urbanization and population growth globally are creating higher demand for commercial, residential, and industrial real estate, boosting REIT investment opportunities. Furthermore, the rise of e-commerce necessitates larger warehousing and logistics facilities, driving significant investment in this sector. Technological advancements in property management and data analytics are improving operational efficiency and risk management within the REIT sector, attracting further investment. The diverse segmentation of the REIT market, encompassing industrial, commercial, and residential properties used for warehouses, communication centers, self-storage, data centers, and other purposes, provides significant diversification and growth opportunities for investors. While regulatory changes and economic fluctuations present potential restraints, the overall market outlook remains positive, driven by consistent demand and the long-term appeal of real estate as an asset class. The competitive landscape is characterized by a mix of established players, such as Automotive Properties REIT, CapitaLand Integrated Commercial Trust Management Ltd., and Prologis, alongside regional and specialized REITs. These companies employ various competitive strategies, including acquisitions, portfolio diversification, and technological innovation to secure market share and deliver strong returns to investors. Geographic expansion, particularly in rapidly developing economies in APAC and other regions, is a key strategic focus for many REITs. Understanding the regional nuances and market-specific regulations is crucial for success. Although specific data on market share for individual companies is absent, the provided list of leading companies indicates a dynamic and competitive market where differentiation through specialized portfolios and efficient management is critical for success.

REITs in the United States saw an annual total return of **** percent in 2023, according to the FTSE Nareit All Equity REITs index. Nevertheless, in 2022, the index had a negative total return of ** percent. Performance improved for all property types, except for diversified, free standing retail, and infrastructure. FTSE Nareit All Equity REITs index is a free-float adjusted, market capitalization-weighted index of equity REITs in the U.S. In 2023, the index included were 140 constituents, with more than 50 percent of total assets in qualifying real estate assets other than mortgages secured by real property. The number of REITs has remained fairly constant in recent years, but the market cap of the REITs sector has increased notably.

The size and share of this market is categorized based on Equity REITs (Residential, Commercial, Industrial, Healthcare, Retail) and Mortgage REITs (Residential Mortgage REITs, Commercial Mortgage REITs, Hybrid Mortgage REITs) and Specialty REITs (Data Centers, Self-Storage, Infrastructure, Timberland, Farmland) and geographical regions (North America, Europe, Asia-Pacific, South America, Middle-East and Africa).

As of October 2024, the ten leading mortgage real estate investment trusts (REITs) in the United States had a combined market capitalization of about 30 billion U.S. dollars. All REITs in the list experienced an increase in market capitalization in 2024, indicating an optimistic outlook. The home financing mortgage REIT Annaly Capital Management, Inc. saw its market cap increase from 7.7 billion U.S. dollars to 9.5 billion U.S. dollars. According to the source, mortgage REITs generate income from the interest on investments in mortgages and mortgage backed securities of income-producing residential and commercial properties. The REITs sector has grown substantially, with the market cap reaching a record high in 2021. After a difficult year of negative returns in 2022, the year-to-date total returns for all property segments returned to positive grounds in 2023.