As per a new report by Fact.MR, a market research and competitive intelligence provider, the global property management services market is expected to achieve a valuation of US$ 15.0 billion in 2023 and grow at a CAGR of 7.3% over the next 10 years.
With the increasing number of multi-story buildings across residential, commercial, and industrial spaces, the demand for professional services to manage these properties is seeing high growth. Countries such as India, China, and South Korea are expected to register the highest market growth in comparison to other major economies of the world.
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The advancement of technology such as building information modeling (BIM), artificial intelligence, and 3D modeling has improved the offerings of service providers. The entry of new tech-enabled companies is leading to tough competition for well-established companies in this space.
Key Takeaways from Market Study
- The global property management services market is expected to reach a valuation of US$ 30.9 million by 2033.
- East Asia to register a market growth of 7.7% during the forecast period.
- North America commands the largest share with 31% of the total property management market.
- Leasing as a service accounts for 27% of the total demand.
- Demand from the commercial end is growing at the fastest rate and is expected to achieve a market valuation of US$ 13.9 billion.
“Increasing house ownership will create a new set of demands for the property management market,” says a Fact.MR analyst.
The property management market is mostly organized owing to the presence of large enterprises that own a bigger share of the market. Many property management companies have been entering into the real estate investment and development segment. There have also been some horizontal acquisitions in the recent past.
- In April 2021, Lincoln Property completed the acquisition of the multifamily property management business of Excelsior Group. This acquisition consists of 27 multifamily properties and 4,500 units across the Minneapolis/St. Paul metropolitan area.
- Apartment Management Consultants
- Avison Young
- BH Management Services
- CBRE Group Inc.
- Colliers International
- Cushman & Wakefield
- Duke Realty Corp.
- Lincoln Property Company
- Stream Realty Partners
- The RMR Group
- Tishman Speyer
- Winn Companies
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the property management services market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of Service (Rent Collection, Mortgage & Utility Payment, Leasing, Legal & Accounting Services, Repair & Maintenance, Others (Not Covered Elsewhere)) and Property Type (Residential, Commercial, Industrial, Special Purpose Properties (Schools, Colleges, Hospitals, Hotels, Others)), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
- By Service :
- Rent Collection
- Mortgage & Utility Payment
- Legal & Accounting Services
- Repair & Maintenance
- Others (Not Covered Elsewhere)
- By Property Type :
- Special Purpose Properties (Schools, Colleges, Hospitals, Hotels, Others)
- By Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa