The global property management service market is anticipated to grow at a CAGR of 10.5% during the forecast period. According to the United Nations, the global human population reached 8.0 billion in mid-November 2022 from an estimated 2.5 billion people in 1950, adding 1 billion people since 2010 and 2 billion since 1998. The world’s population is expected to increase by nearly 2 billion persons in the next 30 years, from the current 8 billion to 9.7 billion in 2050, and could peak at nearly 10.4 billion in the mid-2080s. As the population grows, the demand for housing also increases. Population growth often demands the development of infrastructure to support the expanding population’s needs. This includes the construction of transportation networks, schools, healthcare facilities, shopping centers, and other facilities. Also, there is a lot of paper works involved in the process of buying and renting a house or to construct any of the above facilities and with their busy lives people opt for property management services. Companies and the government are taking necessary steps toward maintaining the real estate business and making people’s life easier. For instance, in January 2022, Greystar Real Estate Partners, LLC, a global leader in the investment, development, and management of real estate properties, completed the acquisition of 5 properties worth $400 million.
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Another factor supporting the market growth includes various market key players’ growing adoption of strategic initiatives. For instance, in December 2021, Aurum Proptech will invest $5million to acquire a majority share in B2B SaaS firm TheHouseMonk. The startup is in the real estate business. It intends to use the fund raised for expansion in Europe and the United States, as well as entry into Asia, which is now its main market.
Global Property Management Service Market Report Segment
By Application
- Residential
- Commercial
By Services
- Mortgage & Utility Payment
- Rent Collection
- Legal & Accounting Service
- Legal
- Repair & maintenance
By End User
- Housing Associations
- Property Managers
- Property Investors
- others
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Company Profiles
- PMX Dynamics
- Avison Young
- BH Management Services, LLC
- CBRE Group, Inc.
- Prologis, Inc.
- Lincoln Property Management
- The RMR Group LLC
- Vacasa LLC
- WinnCompanies
- Tishman Speyer
- Skyline Property Management
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