The real estate industry's market comprises of the sales of real estate services by the several individuals (organizations, sole traders and partnerships) that rent, lease and enable the usage of the buildings and/or land. The industry also involves the managing real estate for others, selling, renting and purchasing real estate for others and reviewing real estate.
According to the report analysis, ‘Real Estate Global Market Report 2019’ states that in the real estate global market there are numerous companies which recently operating more actively for leading the fastest market growth and registering the handsome value of market share around the globe in the near years while delivering the better consumer satisfaction, decreasing the linked cost, advancing the applications of the related services, employing the young services, implementing the profitable strategies, and studying the government’s rules and regulations includes CBRE Group, Jones Lang LaSalle Inc, New World Development Company Limited, Colliers International, Newmark Grubb Knight Frank and several others.
In addition, the Blockchain is emerging as a technology to eradicate hidden costs and disorganizations in the housing market. Blockchain is a record-keeping technology performing as the encrypted catalogue of digital data. It can encode possessions with an exclusive identifier, and is thus proficient of recording the movement of asset from one owner to the next. In addition, the real estate is a document-intensive business, and a dispersed blockchain ledger can amalgamate the mortgage, escrow and deed transfer record-keeping, and can also enable the automated accommodation of provisional events in the terms of contracts. This supports in accelerating the real estate transactions, decreasing the fraud and bargaining the total transparency. In July 2016, Sweden became the foremost western region to explore the usage of the blockchain for real estate. The Republic of Georgia, Honduras and Brazil have also proclaimed pilot curriculums for blockchain in real estate.
Based on the region, the Asia Pacific region was the largest region in the worldwide real estate market, registering for 41% of the market in 2018. North America was the second largest region dominating for 23% of the international real estate market. For instance, the Africa was the smallest region in the worldwide real estate market.
Furthermore, prominent increase in the government investment in infrastructure development to support the real estate is anticipated to deliver the lucrative opportunities for the growth of the market during the future. Government is taking several initiatives connected to infrastructure advancements. Economic growth is one of the foremost drivers. At the same duration, advancing economies in underdeveloped countries such as India, Indonesia, and several others have resulted in large-scale foreign investments, an aspect that subsequently boosts the requirement for the construction equipment in infrastructural projects around the several segments. In addition, the foremost players operating in the worldwide real estate market have implemented the key strategies such as acquisition and business enlargement to strengthen their market outreach and endure the inflexible competition in the market. Therefore, in the near years, it is anticipated that the market of real estate will increase around the globe more significantly over the near years.
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Ankur Gupta, Head Marketing & Communications