Global Housing Finance Marketto Register 22.3% CAGR by 2031 Allied Market Research

Global Housing Finance Marketto Register 22.3% CAGR by 2031 Allied Market Research

As per the report published by Allied Market Research, the global housing finance market accounted for$4,520.67billion in 2021, and is expected to reach $33,298.79billion by 2031, growing at a CAGR of 22.3% from 2022 to 2031.

Housing finance is a form of lending service that provides financial aid to purchase new real estate properties to customers without giving entire buying price upfront. The borrower repays the loan amount in designated period along with interest up to specified number of years.

Increase in demand for streamline housing lending service and rise in need for money among business and individuals to buy house have boosted the growth of the global housing finance market. However, strong rules enforced by banks and financial institutions hinder the market growth. On the contrary, penetration of metropolitan cities and increase in prices of housing properties in developing countries would open new opportunities in the future.

The Covid-19 pandemic hampered the market tremendously. The strict regulations of lockdown imposed by governments in major countries and shutdown of business across the globe hampered the market. This led to job loss and unemployment across the globe. People were unable to fulfil their basic daily needs, as they were quarantined. This negatively affected the market. most of the tenants were forced to move out of their hometown due to unemployment, which made it difficult for property owners to repay their home loans.

The global housing finance marketis classified on the basis of application, providers, and region. Based on application, the market is classified into home purchase, refinance, home improvement, other purpose. The home purchase segment held the largest share in 2021, accounting for nearly one-third of the market. However, the home improvement segment is expected to register the highest CAGR of 24.1% during the forecast period.

On the basis of providers, the market is segmented into banks, housing finance companies, real estate agents, others. The banks segment held the largest share in 2021, contributing to more than one-third of the market. However, the real estate agents segment is projected to portray the highest CAGR of 24.8% during the forecast period.

The global housing finance marketis studiedacross several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America dominated the market in 2021, accounting for nearly two-fifths of the market. However, the market across Asia-Pacific is expected to register the highest CAGR of 25.1% during the forecast period.

The global housing finance marketreport includes an in-depth analysis of the major market players such as Bank of America Corporation, Charles Schwab & Co., Citigroup, Inc., CREDIT SUISSE, Dewan Housing Finance Corporation Limited, Goldman Sachs, HSBC Group, JPMorgan Chase & Co., LIC Housing Finance Limited, Lloyd’s Banking Group, Morgan Stanley, Royal Bank of Canada, The Royal Bank of Scotland Plc, UBS, Wells Fargo

Key findings of the report:

  • Based on application, the home purchase segment held the lion’s share of the market in 2021, and is expected to maintain its leading position during the forecast period.
  • Based on provider, the real estate agents segment is projected to register a CAGR of 24.8% during the forecast period.
  • Region-wise, Asia-Pacific is anticipated to register the highest CAGR of 25.1% during the forecast period.

 

 

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