PHOTO: Global real estate values dropped by 2.8 per cent to just under three hundred and eighty trillion dollars. Image: Canva.
- China,
- United States of America,
- Japan,
- Germany,
- United Kingdom,
- France,
- Canada,
- South Korea,
- Brazil, and
- Australia.
The People’s Republic of China made up just over a quarter (26%) of the world’s real estate value, as of 2022. This comprises both residential and commercial real estate.
The United States of America accounted for 19% of the total global real estate value.
Top 10 countries by real estate value
Despite only being home to 17% of the world’s population, Europe and North America accounted for nearly half (47%) of the world’s total property value. Starkly contrasting this is the Asia Pacific, excluding China, which comprised 37% of the world’s population and only 17% of global real estate value.
Distribution of global real estate values
Ranking ahead of more populous nations, Canada and Australia were notably in the top ten, recording incredible levels of real estate price growth in recent years.
Australia’s residential market hit A$10 trillion in value in June 2022, before values dipped due to inflation and soaring interest rates. The Australian property market quickly recovered, seeing values turn around and reprise its A$10 trillion value in June this year.
Total value of dwelling stock, Australia
The drivers behind Australian house prices and the market’s value included a floor under prices, and indeed significant growth, due to a lack of supply, and a growth in the number of Australian homes.
SOURCE: THE PROPERTY TRIBUNE
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