The rise in global economy has fueled the demand for luxury and super luxury homes. The global ready-to-move-in luxury homes market was dominated by North America and Europe in 2016. However, a recent research report by Persistence Market Research suggests that the Asia Pacific ready-to-move-in luxury homes market is anticipated to witness a robust growth during the forecast period 2017-2025. This comprehensive research report is titled ‘Ready-to-move-in Luxury Homes Market: Global Industry Analysis (2012–2016) and Forecast (2017–2025).’ According to the forecast presented in this report, the ready-to-move-in luxury homes market is expected to reach a market valuation of about US$ 550 Bn in 2017 and this is projected to increase to more than US$ 920 Bn by the end of 2025. The market is anticipated to grow at a robust CAGR of 6.7% during the forecast period.
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Ready-to-move-in Luxury Homes Market: Dynamics
There are a lot of factors responsible for the fluctuations caused in the global ready-to-move-in luxury homes market. The chief factors responsible for the growth of the market are an increase in business travels and rising demand for luxury homes. In the European region, the growing awareness of consumers regarding serviced apartments is predominantly high from the consumer side. The demand for serviced apartments is growing steadily because of the insufficient availability of adequate living space for business lodgers, tourists, and students in cities. The monetary benefits of serviced apartments is attributed to the minimized serviced apartment rentals of up to 50% as compared to hotels. However the market may also face some hindrance in revenue growth during the forecast period due to the tax burden as well as the intensifying competition in the global market.
Ready-to-move-in Luxury Homes Market: Segmental Highlights
- Based on region, the segmental analysis shows that North America is expected to remain the key regional market in the global ready-to-move-in luxury homes market due to the presence of large market players. North America is projected to be valued at over US$ 180 Bn in 2017. Significant market potential exists in the regions of Europe and Asia Pacific as well.
- On the basis of type, the luxury homes segment is projected to be the most attractive, with a market value of over US$ 400 Bn in 2017, growing at a CAGR of 6.5% during the forecast period.
- On the basis of unit size, the market is expected to be dominated by the 1,000 Sq. Ft-2,000 Sq. Ft segment, which is estimated to hold a market value of over US$ 290 Bn in 2017 and is anticipated to reach a valuation in excess of US$ 470 Bn by 2025.
- On the basis of end user, the residential buyer segment is expected to lead the market with a market value of over US$ 390 Bn in 2017 and reaching a valuation of more than US$ 670 Bn in 2025.
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Ready-to-move-in Luxury Homes Market: Competitive Landscape
This exhaustive research report includes a section on the competitive analysis, profiling the key players in the ready-to-move-in luxury homes market such as Houzz Inc., HomeAdvisor Inc., The Porch Company Inc., and Livspace.