Global Apartments And Other Residential Developments Market Segments 2024, Forecast To 2033

The market for apartments and other residential developments, growing rapidly, will increase from $72.39 billion in 2023 to $81.19 billion in 2024, with a CAGR of 12.1%. Historic growth is attributed to the growth of population and urbanization, economic conditions and urban job opportunities, changing demographics, government policies and incentives, and infrastructure and transportation developments. The forecast period anticipates rapid growth to $127.46 billion in 2028 (CAGR of 11.9%), driven by sustainable and green building practices, affordability and diverse housing options, smart city initiatives, rising urbanization and housing demand, and community and amenities planning. Key trends include flexible living spaces, community engagement and amenities, accessibility and inclusivity, adaptive reuse of spaces, and technology-driven property management.