Major companies in the property rental market include Daito Trust Construction Co. Ltd., Brookfield Asset Management, American Tower Corporation, Sun Hung Kai Properties Limited, CapitaLand Limited, Mitsui Fudosan Co.
New York, 15 Feb. 2022 (GLOBE NEWSWIRE) — Reportlinker.com Announces Release of “Real Estate Rental Global Market Report 2022” – https://www.reportlinker.com/p06229744/?utm_source=GNW
Ltd., Xiamen C&D, Simon Property Group Inc, Digital Realty Trust Inc and Leopalace21 Corporation.
The global real estate rental market is expected to grow from $2,164.29 billion in 2021 to $2,396.61 billion in 2022 at a compound annual growth rate (CAGR) of 10.7%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which had previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities that resulted in operational challenges. The market is expected to reach $3,476.58 billion in 2026 with a CAGR of 9.7%.
The real estate rental market consists of sales of real estate rental services by entities (organizations, sole proprietorships and partnerships) that rent, lease and enable the use of buildings and/or land. Rental of goods or services is governed by a rental agreement or contract between an owner of a product and an end user where payment is made by the end user for temporary use of the product.
The rental agreement is a document used for the occupation of a space (commercial or residential) for a period of time in exchange for a monthly rent.
The main types of real estate rental are residential and housing rental services, non-residential rental services, rental services of mini-warehouses and self-storage units and other services rent. A residential rental property is defined as a dwelling purchased by an investor and occupied by tenants under a lease or other type of rental agreement.
The different modes include online, offline and involve different types of property such as fully furnished, semi-furnished, unfurnished.
Real estate agents are increasingly using new technologies such as online listing, video and virtual reality (VR), to provide better services to clients and strengthen the buyer-agent relationship. With advances in technology, the role of real estate agents is changing from simply an arbiter of information to a local market expert and service provider.
Online real estate listing services such as Zillow and realtor.com provide a housing database and tax and purchase history information. Technologies such as video, virtual tours and electronic signature services are also streamlining real estate transactions. For example, in June 2021, Cartus Corporation, a US-based real estate services company, launched a new technology-based global workforce management solution as part of its Language and Intercultural Solutions business line. The new digital learning environment, along with language and cross-cultural solutions, helps employees travel and relocate to new locations, as well as support them through some of the most critical transitions in their professional and personal lives.
Asia-Pacific was the largest region in the real estate rental market in 2021. North America was the second largest region in the real estate rental market.
Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered by the real estate rental market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru , Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, United Arab Emirates, United Kingdom, United States, Venezuela and Vietnam.
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