Global Property Management Market

Property Management Market Size, Share, Growth Analysis, By Deployment(Cloud, On-Premises), By Application(Residential (Multi-family Housing/ Apartments, Single-family Housing, Others), Commercial (Retail Spaces), By End-user(Housing Associations, Property Managers/ Agents, Property Investors, Others), By Region - Industry Forecast 2024-2031


Report ID: SQSG45F2032 | Region: Global | Published Date: February, 2024
Pages: 270 | Tables: 94 | Figures: 75

Property Management Market Competitive Landscape

The property management market is increasingly competitive, as the current trends in the real estate market reveal a shift of focus toward improving efficient property operation and provision of superior client service. The global property management market expands, which indicates that the businesses that respond to the trends in the property management market are likely to succeed a great deal. It is critical to predominance, though, that the property management market enters the real estate market. It seems that the property management market adds a lot of value to the real estate market, and in the best possible scenario, the global industry of real estate will not be able to proceed without the property management market.

Property Management Market Top Players Company Profiles

  • CBRE Group, Inc.
  • JLL
  • Cushman & Wakefield plc
  • Colliers International Group Inc.
  • Savills plc
  • Knight Frank LLP
  • Newmark Group, Inc.
  • BNP Paribas Real Estate
  • Hines
  • Eastdil Secured, LLC
  • Avison Young
  • Tishman Speyer
  • Brookfield Asset Management Inc.
  • Greystar Real Estate Partners
  • Prologis, Inc.
  • Lincoln Property Company
  • FirstService Corporation
  • KKR & Co. L.P.
  • Lendlease Group

Property Management Market Recent Development

  • February 2024, Wood Partners, the 4th largest real estate developer in the USA, sold its property management firm for its 38,000+ units in 17 states to Greystar. It is the largest apartment management company in the USA. 
  • November 2023, RealPage, Inc. bought On-site Managers, Inc. for roughly 250 million USD in cash. The RealPage intends to continue operating the On-site platform. 
  • July 2023, Entrata, Inc. acquired Salt Lake City, Utah-based Rent Dynamics, specializing in resident rent-reporting and financial services. The next move by Entrata has been to expand the services available and to affirm its place in property management.
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FAQs

Global Property Management Market size was valued at USD 3.04 billion in 2019 and is poised to grow from USD 3.15 billion in 2023 to USD 4.85 billion by 2031, growing at a CAGR of 5.6% in the forecast period (2024-2031).

The property management market is increasingly competitive, as the current trends in the real estate market reveal a shift of focus toward improving efficient property operation and provision of superior client service. The global property management market expands, which indicates that the businesses that respond to the trends in the property management market are likely to succeed a great deal. It is critical to predominance, though, that the property management market enters the real estate market. It seems that the property management market adds a lot of value to the real estate market, and in the best possible scenario, the global industry of real estate will not be able to proceed without the property management market. 'CBRE Group, Inc.', 'JLL', 'Cushman & Wakefield plc', 'Colliers International Group Inc.', 'Savills plc', 'Knight Frank LLP', 'Newmark Group, Inc.', 'BNP Paribas Real Estate', 'Hines', 'Eastdil Secured, LLC', 'Avison Young', 'Tishman Speyer', 'Brookfield Asset Management Inc.', 'Greystar Real Estate Partners', 'Prologis, Inc.', 'Lincoln Property Company', 'FirstService Corporation', 'KKR & Co. L.P.', 'Lendlease Group'

The real estate market in most cities of the world is growing alongside their populations. The more people there are in a city, the more residential areas it needs to provide. Therefore, the fact that the real estate market is permanently on the rise generates a favorable framework for property management services. Meanwhile, the more properties the landowners have and the more dispersed the latter are, the more challenges for coordinating their disparate parts are cast. 

Implementation of Technology: The novel technologies simplify duties, automate processes, and improve communication, encouraging property owners to select this option over other opportunities. In such a way, businesses that offer owners cloud-based solutions may ensure that they deliver a more comprehensive and up-to-date service that is also less expensive than many traditional ones.  

The market share for property management is the largest in North America, particularly the USA. In the region professional property management plays a significant role in the property market. North America has a highly developed ecosystem of service providers, technology solutions, and industry associations. Moreover, it has well-functioning operation processes and is known for being innovative. A significant force behind the rising demand for housing in North American cities where the population is increasingly mobile, and forms are increasingly urban is the growth of rented apartments. In addition, the North American market is well-regulated in general, as North America has clear legislative corridors for rules, habits and conventions, including legal guidelines for tenant rights, fair housing, and property maintenance.  

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Global Property Management Market

Report ID: SQSG45F2032

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