New York, June 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Multifamily Housing Construction (Apartments) Global Market Report 2023" - https://www.reportlinker.com/p06464069/?utm_source=GNW
The global multifamily housing construction (apartments) market is expected to grow from $747.48 billion in 2022 to $821.07 billion in 2023 at a compound annual growth rate (CAGR) of 9.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The multifamily housing construction (apartments) market is expected to reach $1,141.85 billion in 2027 at a CAGR of 8.6%.
The multifamily housing construction market(apartments) consists of sales of new duplexes, triplexes, quadplexes.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Multi-family housing is the subcategory of housing that consists of many dwelling units inside the same building or in a complex.It is divided to accommodate more than one family living separately.
They can range from a duplex to small homes or apartment buildings.
North America was the largest region in the multifamily housing construction (apartments) market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in multifamily housing construction market(apartments) report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main construction activities of multifamily housing construction (apartments) are new construction, repair and maintenance, refurbishment and demolition.New construction describes buildings that are completely new and have never been occupied.
The cost for constructing apartments including construction materials, construction equipment, and construction services. This are for owned and rental applications.
The population growth is expected to propel the growth of the multi-family housing construction(apartments) market.Population growth is the annual average rate of change in population size for a certain nation, territory, or geographic area over a given time period.
As there is an increase in population many number of people have to be accommodated which increases the multi-family housing construction as well. For instance, according to UN an intergovernmental organization the global human population reached 8.0 billion in mid-November 2022 from 7.79 billion in 2020. Therefore, the population growth is driving the growth of multi-family housing construction market.
Sustainability is a key trend gaining popularity in the multi-family housing construction market.Companies operating in the multi-family housing construction market are adopting new technologies to sustain their position in the market.
For instance, in December 2021, Dahlin Group, a US-based engineering and construction company developed a tiny home prototype, Mod Hive, to help address the affordable housing shortage in Salt Lake City.The prototype can be used as a little cluster on a single lot or a tiny, well-planned development made up of several lots.
This sustainable idea is to establish a little town with a community garden, outdoor gathering area, and firepit by using an inward-looking site plan.By using a lower-density arrangement at the front of the lot and a larger density at the back, it mimics the sense of a classic neighbourhood of two-story, single-family detached homes.
This is an example of how sustainable living can be achieved.
In January 2023, Habyt, a Germany-based technologically-empowered co-living operator company, merged with Common for an undisclosed amount.This merger will establish the top global co-living company, Almost 30,000 units, including co-living, studios, and standard rental apartments, will be run by the united company.
Common is a US-based coliving company operating in the multi-family housing construction market.
The countries covered in the multifamily housing construction market (apartments) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The multifamily housing construction (apartments) market research report is one of a series of new reports that provides multifamily housing construction (apartments) market statistics, including multifamily housing construction (apartments) industry global market size, regional shares, competitors with a multifamily housing construction (apartments) market share, detailed multifamily housing construction (apartments) market segments, market trends, and opportunities, and any further data you may need to thrive in the multifamily housing construction (apartments) industry. This multifamily housing construction (apartments) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06464069/?utm_source=GNW
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