Market Size of Asia-Pacific Real Estate Brokerage Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 368.41 Billion |
| Market Size (2029) | USD 452.77 Billion |
| CAGR (2024 - 2029) | 4.21 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Real Estate Brokerage Market Analysis
The Asia Pacific Real Estate Brokerage Market size is estimated at USD 368.41 billion in 2024, and is expected to reach USD 452.77 billion by 2029, growing at a CAGR of 4.21% during the forecast period (2024-2029).
- The real estate brokerage market in Asia-Pacific is mainly driven by a surge in urbanization and foreign investment. Urbanization remains a dominant megatrend in the region. Asia hosts over half of the world's urban population, exceeding 2.2 billion people. Projections indicate that by 2050, Asia's urban populace will increase by 50%, adding another 1.2 billion residents.
- Cities across Asia and the Pacific are in charge of global economic opportunities and sustainability endeavors. While they grapple with challenges like environmental degradation, escalating disasters, persistent slums, and social exclusion, they also stand as economic powerhouses, centers of innovation, and champions of cultural heritage preservation.
- Currently, office and retail real estate make up a significant portion of the Asia-Pacific investor portfolio, accounting for a third. However, this landscape is poised for a significant shift. While service sectors, notably hotels and retail, bore the brunt of the COVID-19 pandemic, industrial real estate, especially logistics and distribution centers, recovered soon and witnessed growth, with further expansion on the horizon. Consequently, there is a notable pivot in real estate asset allocation, with a tilt from retail toward industrial properties.
- Historically, office real estate grappled with high vacancy rates, prompting some to pivot toward residential offerings. Yet, there is a glimmer of optimism for 2024, especially in major urban centers where office rentals are projected to rise.
- Investors are increasingly turning their gaze toward niche real estate segments. Data centers, in particular, have garnered significant attention. Notably, Tokyo and Shanghai are the leaders in live data center capacities in the Asia-Pacific region. Another emerging star in the real estate market is the life sciences sector, encompassing a diverse array of medical facilities and properties.
