New York, February 17, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the release of the report “Global Real Estate Rental Market Report 2021: The Impact and Recovery of COVID 19 to 2030” – https://www.reportlinker.com/p06025310/? utm_source = GNW
$ 23 billion in 2020 to $ 1765.5 billion in 2021 at a compound annual growth rate (CAGR) of 2.2%. The growth is largely the result of companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive control measures that included social distancing, teleworking, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $ 2365.93 billion in 2025 with an 8% CAGR.
The real estate rental market consists of the sale of real estate rental services by entities (organizations, sole traders and partnerships) that rent, lease and enable the use of buildings and / or land. The rental of goods or services is regulated by a lease agreement or a contract between the owner of the product and the end user, whereby the end user pays for the temporary use of the product. A lease agreement is a document used to occupy space (either commercial or residential) for a fixed period of time in exchange for a monthly rent. The real estate rental market is segmented into rental services for residential buildings and apartments; Rental services of non-residential buildings; rental of mini warehouses and self-storage units; and other rental services.
The Asia-Pacific region was the largest region in the global real estate rental market, accounting for 33% of the market in 2020. Western Europe was the second largest region, accounting for 29% of the global real estate rental market. Africa was the smallest region in the global real estate rental market.
Real estate agents are increasingly using new technologies such as online listing, video and virtual reality (VR) to provide better services to clients and strengthen the customer-agent relationship. With advances in technology, the role of real estate agents shifts from just an information arbiter to a local market expert and service provider. Online real estate listing services such as Zillow and realtor.com provide a housing database and information on taxes and purchase history. Technologies such as video, VR tours and e-signing services also simplify real estate transactions. For example, in 2016, Sotheby’s International Realty, a luxury real estate provider, began hosting 3D home tours on its listing pages.
Read the full report: https://www.reportlinker.com/p06025310/?utm_source=GNW
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