The Affordable Housing
Global Market Report 2024 by The Business Research Company provides
market overview across 60+ geographies in the seven regions - Asia-Pacific,
Western Europe, Eastern Europe, North America, South America, the Middle East,
and Africa, encompassing 27 major global industries. The report presents a
comprehensive analysis over a ten-year historic period (2010-2021) and extends
its insights into a ten-year forecast period (2023-2033).
Learn More On The Affordable Housing
Market:
https://www.thebusinessresearchcompany.com/report/affordable-housing-global-market-report
According to The Business Research Company’s Affordable Housing Global Market Report 2024, The affordable
housing market size has grown strongly
in recent years. It will grow from $54.26 billion in 2023 to $57.62 billion in
2024 at a compound annual growth rate (CAGR) of 6.2%. The
growth in the historic period can be attributed to government subsidies
and programs, low-interest rates, population growth, urbanization, community
development initiatives.
The affordable housing market size is
expected to see strong growth in the next few years. It will grow to $71.13
billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be
attributed to policy reforms, climate resilience, flexible financing models,
focus on inclusionary zoning, employer-sponsored housing. Major trends in the
forecast period include public-private partnerships, technology and innovation,
tiny homes and micro-apartments, smart and sustainable affordable housing,
mixed-use developments.
The easy availability of home loans significantly contributes to the growth of
the affordable housing market going forward. Home loans refer to a sum that a
person borrows from a financial entity, like a housing finance business, to
build a home, renovate an existing one, or purchase a new or used home. Home
loans give financial support to people or families, allowing them to acquire or
construct homes at a low cost, boosting homeownership, and solving housing
affordability issues. For instance, in May 2023, according to the Federal
Reserve Bank of New York, a US-based bank of the Federal Reserve responsible
for implementing monetary policy, total household debt increased by $148
billion (0.9%) to $17.05 trillion in the first quarter of 2023, where its
balances are presently $2.9 trillion. Therefore, the easy availability of home
loans is driving the growth of the affordable housing market.
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The affordable housing market covered in this report is segmented –
1) By Providers: Private Builders, Government, Public-private Partnership
2) By Size of Unit: Upto 400 square feet, 400-800 square feet, Above 800 square
feet
3) By Location: Urban, Rural
4) By Income Categories: Economically Weaker Sections (EWS), Middle Income
Group (MIG), Lower Income Group (LIG)
5) By Population: Slum Population, Non-slum population
Technological advancements are the key trend gaining popularity in the
affordable housing market. Major companies operating in the affordable housing
market focus on developing innovative and technologically advanced affordable
housing solutions to strengthen their market presence. For instance, in June
2023, AppFolio Inc., a US-based software company specializing in real estate
management solutions, introduced a host of AI-powered capabilities and
affordable housing solutions. The company will integrate these innovative
artificial intelligence capabilities into affordable housing solutions to
empower property managers to enhance resident experiences. This new affordable
housing solution is designed to meet the specific requirements of clients that
manage affordable housing properties or units in their portfolio. It includes
managing compliance, expediting procedures, and integrating accounting
operations for conventional and affordable housing units on a single platform.
The affordable housing market report
table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
.
.
.
27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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