The ready-to-move-in luxury homes market is set to grow in the next 8 years with North America continuing to lead the way
The ready-to-move-in luxury homes market is set to grow in the next 8 years with North America continuing to lead the way.
The global market will have reached a forecast market value of $550 billion in 2017 according to Persistent Market Research, which expects that the market value will reach $920 billion by the end of 2025.
North America continues to dominate the sector, valued at $180 billion in 2017; but Asia Pacific is also showing robust growth for the coming years.
The report highlights that the growth of the market is being driven by increased business travel which means more demand for serviced apartments which offer lower costs than hotels; and increased demand for luxury homes.
The homes segment of the market is by far the largest, with a forecast value of $400 billion for 2017 and growing at a compound annual growth rate of 6.5% from 2017-2025.
The largest growth in the luxury homes sector will be those sized 1000-2000 square feet, valued at $290 billion in 2017, rising to $470 billion by 2025.
Residential buyers are expected to buy $370 billion of luxury homes worldwide in 2017, rising to $670 billion in 2025.
The global market will have reached a forecast market value of $550 billion in 2017 according to Persistent Market Research, which expects that the market value will reach $920 billion by the end of 2025.
North America continues to dominate the sector, valued at $180 billion in 2017; but Asia Pacific is also showing robust growth for the coming years.
The report highlights that the growth of the market is being driven by increased business travel which means more demand for serviced apartments which offer lower costs than hotels; and increased demand for luxury homes.
The homes segment of the market is by far the largest, with a forecast value of $400 billion for 2017 and growing at a compound annual growth rate of 6.5% from 2017-2025.
The largest growth in the luxury homes sector will be those sized 1000-2000 square feet, valued at $290 billion in 2017, rising to $470 billion by 2025.
Residential buyers are expected to buy $370 billion of luxury homes worldwide in 2017, rising to $670 billion in 2025.
