Condominiums and Apartments Market Report 2025

The condominiums and apartments market size has grown strongly in recent years. It will grow from $1.21 trillion in 2024 to $1.27 trillion in 2025 at a compound annual growth rate (CAGR) of 5.3%. The growth during the historic period can be attributed to increasing urbanization, rising population density, growing demand for affordable housing, expansion of metropolitan areas, and government housing initiatives.

The condominiums and apartments market size is expected to see steady growth in the next few years. It will grow to $1.55 trillion in 2029 at a compound annual growth rate (CAGR) of 4.9%. The growth projected in the forecast period can be attributed to rising investments in smart home technology, increasing demand for sustainable buildings, growing preference for mixed-use developments, expansion of rental housing markets, and higher disposable incomes among millennials. Key trends during this period include technological advancements in building automation, innovations in green construction materials, progress in energy-efficient design, research and development in modular construction, and the integration of artificial intelligence in property management.

The rise in disposable income is expected to drive the growth of the condominiums and apartments market going forward. Disposable income refers to the amount of money an individual or household has available to spend or save after paying taxes and mandatory charges. This increase is driven by individuals seeking greater financial freedom to invest in lifestyle upgrades, leisure activities, and enhanced experiences that improve their quality of life. Higher disposable income boosts the condominiums and apartments market by increasing purchasing power, enabling people to afford homeownership or rent modern, well-located residential units that fit their lifestyle and budget. For example, in November 2024, the European Commission, a Belgium-based government agency, reported that gross household adjusted disposable income (GDP) in the EU reached $14.81 trillion (€12,630 billion) in 2023, equivalent to 73.5% of GDP and representing 36.8% of GDP - a slight increase from 36.6% in 2022. Therefore, rising disposable income is propelling the condominiums and apartments market growth.

Leading companies in the condominiums and apartments market are focusing on lifestyle-driven innovations to enhance comfort and convenience for modern urban residents. One such innovation is the multi-functional glass rooftop club - a spacious, enclosed rooftop area designed to offer residents a combination of co-working, social, and recreational spaces within a bright, panoramic environment. For instance, in October 2024, New Empire Corp., a US-based real estate development and construction management firm, launched Radiant, a luxury condominium at 24-01 Queens Plaza North in Long Island City. This 19-story residential tower features 117 upscale units along with amenities such as a Finnish sauna, rooftop lounge, basketball court, co-working spaces, and pet-friendly accommodations, providing residents with a premium urban lifestyle in one of New York City’s fastest-growing neighborhoods.

In January 2025, Cityview, a US-based real estate investment and development company, acquired the Candela residential property from Raintree Partners for $0.036 billion. With this acquisition, Cityview plans to enhance Candela’s value through strategic renovations, leveraging its prime location and below-replacement-cost pricing. Raintree Partners Management LLC is a US-based firm specializing in multifamily residential and mixed-use properties, including apartments.

Major players in the condominiums and apartments market are China Vanke Co. Ltd., Country Garden Holdings Company Limited, China Evergrande Group, Lennar Corporation, Mitsui Fudosan Co. Ltd., Skanska AB, Greystar Real Estate Partners LLC, Mitsubishi Estate Co. Ltd., Toll Brothers Inc., Sumitomo Realty & Development Co. Ltd., Emaar Properties PJSC, The Related Companies L.P., AvalonBay Communities Inc., Ayala Land Inc., SM Prime Holdings Inc., Vornado Realty Trust, Brookfield Asset Management Inc., UDR Inc., Damac Properties LLC, and Concord Pacific Developments Inc.

North America was the largest region in the condominiums and apartments market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in condominiums and apartments report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the condominiums and apartments market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s recommendations and conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The rapid escalation of U.S. tariffs and the resulting trade tensions in spring 2025 are significantly impacting the construction sector, particularly in materials procurement and project costs. Higher duties on imported steel, aluminum, lumber, and machinery have driven up expenses for builders, contractors, and infrastructure developers, leading to increased project bids and delayed timelines. Construction equipment manufacturers face similar challenges, with tariffs on essential components and raw materials inflating production costs and squeezing margins. Additionally, retaliatory tariffs in international markets have curtailed exports of U.S.-made construction equipment and materials, further affecting profitability. The sector must now prioritize local sourcing, modular construction techniques, and supply chain diversification to control costs and ensure project viability amid ongoing trade uncertainties.

Condominiums and apartments are types of residential buildings comprising multiple individual housing units within a single structure, typically featuring shared amenities such as lobbies, gyms, and parking areas. While apartments are generally rented and managed by a single owner or company, condominiums consist of individually owned units where residents collectively share responsibility for common areas through a homeowners association.

The primary types of condominiums and apartments include luxury condominiums, affordable condominiums, studio apartments, two-bedroom apartments, and three-bedroom apartments. Luxury condominiums are upscale residential buildings that offer premium amenities, superior design, and exclusive services targeted at affluent buyers seeking comfort and prestige. Available amenities include swimming pools, fitness centers, rooftop gardens, 24/7 security, and parking facilities. Sales channels encompass traditional direct sales, real estate agencies, and online platforms. These properties serve various applications such as urban, suburban, and rural settings and are used by several end users, including property owner-occupants, investors, and corporate buyers.

The condominiums and apartments market research report is one of a series of new reports that provides condominiums and apartments market statistics, including the condominiums and apartments industry global market size, regional shares, competitors with the condominiums and apartments market share, detailed condominiums and apartments market segments, market trends, and opportunities, and any further data you may need to thrive in the condominiums and apartments industry. This condominiums and apartments 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 condominiums and apartments market includes revenues earned by entities through the maintenance and management services, financing and legal services, community and lifestyle services, lease management and rental services, and mortgage and loan facilitation. 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 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.

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