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Real Estate Property Management is Driven by Rising Rental and Accommodation Demand

The Global Real Estate Property Management Market is estimated to be valued at US$ 22.56 Billion in 2024 and is expected to exhibit a CAGR of 7.6% over the forecast period 2024 to 2031.
The real estate property management market includes services such as rental, leasing, and overall maintenance of commercial and residential properties. Property management services take care of tenant screening, lease agreements, collecting rent, carrying out maintenance tasks, and other administrative responsibilities on behalf of property owners. These services help property owners conveniently manage their assets without worrying about day-to-day operations. There has been a rise in demand for rental properties especially among millennials who prefer not to commit to long-term mortgages. Additionally, growing accommodation needs of transient workforce and students pursuing education in various cities have propelled the growth of short-term rentals.
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