Real Estate Rental Global Market Report 2024

The real estate rental market size has grown strongly in recent years. It will grow from $2601.92 billion in 2023 to $2806.83 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth observed in the historical period can be ascribed to factors such as consumer confidence, economic conditions, interest rates, consumer preferences, and global events.

The real estate rental market size is expected to see strong growth in the next few years. It will grow to $3749.95 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The anticipated growth in the forecast period can be linked to factors such as the increasing focus on sustainability and green practices, trends in remote work, challenges related to affordability, government policies, and various global events and health considerations. Noteworthy trends in the forecast period encompass the impact of remote work, integration of technology, emphasis on sustainability and energy efficiency, flexibility in lease terms, initiatives for affordable housing, and concerns related to health and safety.

The anticipated increase in home prices is expected to drive demand in the real estate rental market. The surge in housing prices, influenced by pandemic-related lockdowns and rising interest rates, is prompting a greater demand for rental units as an alternative accommodation option for those unable to purchase a home. For instance, in India in 2022, the Delhi-National Capital Region (NCR) experienced a significant 10% year-on-year (YoY) increase in residential prices, followed by Ahmedabad and Hyderabad with 9% and 8% YoY increases, respectively, from 2021. Therefore, the elevated home prices are projected to contribute to the demand for the real estate rental market.

The growing demand for construction activities is anticipated to propel the real estate market's growth in the future. Construction, involving the assembly of various elements to create structures at specific locations based on detailed designs and plans, can be supported by real estate rentals. These rentals provide essential infrastructure, equipment storage, workspace, accommodation, and logistical advantages for construction projects. For example, in June 2021, building activities in New Zealand increased by 3.7% in March 2021, with residential activities rising by 4.3% compared to 2020. Therefore, the increasing demand for construction activities is a driving force behind the growth of the real estate rentals market.

Real estate agents are increasingly adopting new technologies, such as online listings, video, and virtual reality (VR), to enhance services for clients and strengthen the buyer-agent relationship. Technological advancements are transforming the role of real estate agents from information arbitrators to local market experts and service providers. Online listing services such as Zillow and realtor.com offer housing databases and information on tax and purchase history, while video, VR tours, and e-signing services streamline real estate transactions. For example, in June 2021, Cartus Corporation, a US-based real estate services company, launched a new technology-enabled global personnel solution under its Language and Intercultural Solutions business line. This digital learning environment, combined with Language and Intercultural Solutions, supports employees in their travels and relocations, guiding them through critical transitions in their professional and personal lives.

Major companies in the real estate rental market are introducing innovative platforms, such as Airbnb-friendly buildings, to enhance revenues. Airbnb-friendly buildings cater to renters interested in earning extra income by hosting their homes on Airbnb part-time, while adhering to building rules and applicable laws. In November 2022, Airbnb, a US-based real estate company, introduced an Airbnb-friendly buildings platform that enables rentals to host apartments in collaboration with major landlords. These apartments are designed as the renter's primary residence, and each building has its own community rules for hosting, including limitations on the number of nights renters can host per year.


Major companies operating in the real estate rental market report are Brookfield Asset Management, CBRE Group Inc., Leopalace21 Corporation, Xiamen C&D, Mitsui Fudosan Co. Ltd., American Tower Corporation, Weyerhaeuser Company, Sun Hung Kai Properties Limited, Equinix Inc. (REIT), Prologis Inc., Simon Property Group Inc., Host Hotels & Resorts Inc., Digital Realty Trust Inc., Public Storage, Daito Trust Construction Co. Ltd., Americold Realty Trust, Equity Residential, SBA Communications Corporation, AvalonBay Communities Inc., Alexandria Real Estate Equities Inc., CapitaLand Limited, Healthpeak Properties Inc., UDR Inc., Camden Property Trust, Regency Centers Corporation, CyrusOne Inc., Federal Realty Investment Trust, STORE Capital Corporation, Rexford Industrial Realty Inc., Crown Castle International Corp. (REIT), Duke Realty Corporation, Essex Property Trust Inc., Highwoods Properties Inc.

Asia-Pacific was the largest region in the real estate rental market in 2023. North America was the second-largest region in the real estate rental market. The regions covered in the real estate rental market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the real estate rental market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa. The real estate rental market consists of revenues earned by entities that rent, lease, and allow the use of buildings and or land such as serviced offices and co-working spaces. The rental agreement is a document used for the occupying of space (either commercial or residential) for a period of time in exchange for monthly rent. This market also includes managing, selling, renting, buying, and appraising real estate for others. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.


The primary types of real estate rental services include residential buildings and dwellings rental services, non-residential buildings rental services, mini-warehouses, self-storage unit rental services, and other rental services. Residential rental property is a dwelling purchased by an investor and occupied by tenants under a lease or another rental arrangement. The various modes of rental services include online and offline, covering property types such as fully furnished, semi-furnished, and unfurnished.

The real estate rental market research report is one of a series of new reports that provides real estate rental market statistics, including the real estate rental industry global market size, regional shares, competitors with a real estate rental market share, detailed real estate rental market segments, market trends and opportunities, and any further data you may need to thrive in the real estate rental industry. This real estate rental market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.