Property Management Service Global Market Report 2024

Description

Property management services encompass the professional oversight of real estate properties conducted on behalf of property owners. These services typically entail various tasks such as financial planning, analysis, and tenant relations. The primary objective is to optimize the value and profitability of the property while alleviating the owner's involvement in day-to-day operations.

The primary types of property management services include rent collection, mortgage and utility payment facilitation, leasing assistance, legal and accounting services, and repair and maintenance coordination. Rent collection involves the systematic gathering of rental payments from tenants for property usage. These services cater to various property types, including residential, commercial, industrial, and special purpose properties, and are utilized by property managers, agents, and housing associations.

The property management service research report is one of a series of new reports from The Business Research Company that provides property management service market statistics, including the property management service industry's global market size, regional shares, competitors with a property management service market share, detailed property management service market segments, market trends and opportunities, and any further data you may need to thrive in the property management service industry. This property management service market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The property management service market size has grown strongly in recent years. It will grow from $14.36 billion in 2023 to $15.52 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth observed in the historic period can be attributed to various factors, including the development of transportation hubs and employment centers, the escalation of maintenance costs, the appreciation of property values, the surge in lease agreements, and the need for regulatory compliance.

The property management service market size is expected to see strong growth in the next few years. It will grow to $21.28 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The anticipated growth in the forecast period can be attributed to several factors, including the projected rise in occupancy rates, escalating operating expenses, increasing rental rates, growing emphasis on sustainability initiatives, and improving financial performance. Major trends expected in this period encompass the adoption of remote management practices, enhancement of tenant experiences, implementation of flexible leasing models, reliance on data-driven decision-making processes, integration of digital payment solutions, streamlining of transactions, and evolution of the workforce to adapt to changing demands and technologies.

The surge in demand for residential buildings is anticipated to drive substantial growth in the property management service market in the foreseeable future. Residential buildings, designed to accommodate individuals and families, serve as essential dwelling spaces, catering to various living needs and activities. This heightened demand for residential buildings is propelled by factors such as population expansion, favorable mortgage rates, and evolving lifestyle preferences. Property management services play a pivotal role in the efficient operation of residential buildings, ensuring tenant satisfaction, operational streamlining, and asset value preservation. For example, in February 2024, the United States Census Bureau reported a noteworthy uptick in privately owned housing units authorized by building permits, reaching a seasonally adjusted annual rate of 1,470,000 in January. This marked an 8.6% increase from January 2023, highlighting the growing demand for residential properties. Similarly, the rate of privately owned housing completions in January reflected a 2.8% rise compared to the same period in 2023, underlining the upward trajectory of residential construction activity. Hence, the escalating demand for residential buildings serves as a catalyst for the property management service market's expansion.

Key players in the property management service market are prioritizing the development of innovative solutions, such as end-to-end operations management services, to elevate service efficiency and enhance client experiences. End-to-end operations management services encompass a comprehensive range of property administration functions, spanning leasing, maintenance, financial management, and beyond, offering holistic support to property owners. For instance, in February 2023, Hines introduced end-to-end property management services in France, aiming to strengthen community engagement while delivering proactive operational management. This initiative is geared towards providing a superior customer experience by consolidating services and simplifying processes for occupants. The suite of services extends across various building facets, including mechanical and technical engineering, leasing management, energy performance monitoring, asset and risk management, property management accounting, and administrative support.

In January 2022, Avison Young made a strategic acquisition, acquiring Madison Marquette, a move aimed at broadening its service portfolio to encompass office and industrial property management, agency leasing, and project management services. This strategic alignment is designed to enrich the client experience and fortify Avison Young's competitive position in the real estate domain, expanding its presence across 11 states. Madison Marquette, specializing in investment management, development, specialty leasing, and property services, complements Avison Young's existing offerings, fostering synergies and strengthening the combined entity's market positioning.

Major companies operating in the property management service market are Vanke Co. Ltd., International Business Machines Corporation, Evergrande Group, SAP SE, Jones Lang LaSalle Incorporated, Poly Property Group Co. Ltd., Colliers International Group Inc., Trimble Inc., Mapletree Investments Pte Ltd, Savills Singapore Pte Ltd, Yardi Systems Inc., RealPage Inc., AppFolio Inc., Entrata Inc., Southern Management Corporation, Quintessentially Estates Limited, Abacus Group LLC, Lee & Associates Commercial Real Estate Services Inc., Marsh & Parsons Limited, Summit Management Services Inc., Blue Sky Luxury, Archibus Inc., Rhodo Property & Estate Management Services, Rently Inc., Premier Property Management Services, Elda Management Services Inc., Advantage Property Management Services, Alpha Property Management Services LLC, Rosen Management Services, Orchard Block Management Services, Preferred Property Management Services Inc.

North America was the largest region in the property management service market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the property management service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the property management service market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The property management service market includes revenues earned by entities by providing services such as tenant screening and placement, vacancy management, emergency response, and regular property inspections. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

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.

Including: 1) By Service: Rent Collection; Mortgage And Utility Payment; Leasing; Legal And Accounting Services; Repair And Maintenance
2) By Property Type: Residential; Commercial; Industrial; Special Purpose Properties
3) By End Users: Property Managers Or Agents; Housing Associations
Covering: Vanke Co. Ltd; International Business Machines Corporation; Evergrande Group; SAP SE; Jones Lang LaSalle Incorporated

Product Code: r17424

1. Executive Summary

2. Property Management Service Market Characteristics

3. Property Management Service Market Trends And Strategies

4. Property Management Service Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Property Management Service Market Size and Growth

5.1. Global Property Management Service Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Property Management Service Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Property Management Service Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Property Management Service Market Segmentation

6.1. Global Property Management Service Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Rent Collection
Mortgage And Utility Payment
Leasing
Legal And Accounting Services
Repair And Maintenance
Other Services
6.2. Global Property Management Service Market, Segmentation By Property Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Residential
Commercial
Industrial
Special Purpose Properties
6.3. Global Property Management Service Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Property Managers Or Agents
Housing Associations

7. Property Management Service Market Regional And Country Analysis

7.1. Global Property Management Service Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Property Management Service Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Property Management Service Market

8.1. Asia-Pacific Property Management Service Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Property Management Service Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Property Management Service Market, Segmentation By Property Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Property Management Service Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Property Management Service Market

9.1. China Property Management Service Market Overview
9.2. China Property Management Service Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Property Management Service Market, Segmentation By Property Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Property Management Service Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Property Management Service Market

10.1. India Property Management Service Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Property Management Service Market, Segmentation By Property Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Property Management Service Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Property Management Service Market

11.1. Japan Property Management Service Market Overview
11.2. Japan Property Management Service Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Property Management Service Market, Segmentation By Property Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Property Management Service Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Property Management Service Market

12.1. Australia Property Management Service Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Property Management Service Market, Segmentation By Property Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Property Management Service Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Property Management Service Market

13.1. Indonesia Property Management Service Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Property Management Service Market, Segmentation By Property Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Property Management Service Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Property Management Service Market

14.1. South Korea Property Management Service Market Overview
14.2. South Korea Property Management Service Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Property Management Service Market, Segmentation By Property Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Property Management Service Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Property Management Service Market

15.1. Western Europe Property Management Service Market Overview
15.2. Western Europe Property Management Service Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Property Management Service Market, Segmentation By Property Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Property Management Service Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Property Management Service Market

16.1. UK Property Management Service Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Property Management Service Market, Segmentation By Property Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Property Management Service Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Property Management Service Market

17.1. Germany Property Management Service Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Property Management Service Market, Segmentation By Property Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Property Management Service Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Property Management Service Market

18.1. France Property Management Service Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Property Management Service Market, Segmentation By Property Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Property Management Service Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Property Management Service Market

19.1. Italy Property Management Service Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Property Management Service Market, Segmentation By Property Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Property Management Service Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Property Management Service Market

20.1. Spain Property Management Service Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Property Management Service Market, Segmentation By Property Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Property Management Service Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Property Management Service Market

21.1. Eastern Europe Property Management Service Market Overview
21.2. Eastern Europe Property Management Service Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Property Management Service Market, Segmentation By Property Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Property Management Service Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Property Management Service Market

22.1. Russia Property Management Service Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Property Management Service Market, Segmentation By Property Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Property Management Service Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Property Management Service Market

23.1. North America Property Management Service Market Overview
23.2. North America Property Management Service Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Property Management Service Market, Segmentation By Property Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Property Management Service Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Property Management Service Market

24.1. USA Property Management Service Market Overview
24.2. USA Property Management Service Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Property Management Service Market, Segmentation By Property Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Property Management Service Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Property Management Service Market

25.1. Canada Property Management Service Market Overview
25.2. Canada Property Management Service Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Property Management Service Market, Segmentation By Property Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Property Management Service Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Property Management Service Market

26.1. South America Property Management Service Market Overview
26.2. South America Property Management Service Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Property Management Service Market, Segmentation By Property Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Property Management Service Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Property Management Service Market

27.1. Brazil Property Management Service Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Property Management Service Market, Segmentation By Property Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Property Management Service Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Property Management Service Market

28.1. Middle East Property Management Service Market Overview
28.2. Middle East Property Management Service Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Property Management Service Market, Segmentation By Property Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Property Management Service Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Property Management Service Market

29.1. Africa Property Management Service Market Overview
29.2. Africa Property Management Service Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Property Management Service Market, Segmentation By Property Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Property Management Service Market, Segmentation By End Users, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Property Management Service Market Competitive Landscape And Company Profiles

30.1. Property Management Service Market Competitive Landscape
30.2. Property Management Service Market Company Profiles
- 30.2.1. Vanke Co. Ltd.
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. International Business Machines Corporation
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Evergrande Group
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. SAP SE
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Jones Lang LaSalle Incorporated
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Property Management Service Market Other Major And Innovative Companies

31.1. Poly Property Group Co. Ltd.
31.2. Colliers International Group Inc.
31.3. Trimble Inc.
31.4. Mapletree Investments Pte Ltd
31.5. Savills Singapore Pte Ltd
31.6. Yardi Systems Inc.
31.7. RealPage Inc.
31.8. AppFolio Inc.
31.9. Entrata Inc.
31.10. Southern Management Corporation
31.11. Quintessentially Estates Limited
31.12. Abacus Group LLC
31.13. Lee & Associates Commercial Real Estate Services Inc.
31.14. Marsh & Parsons Limited
31.15. Summit Management Services Inc.

32. Global Property Management Service Market Competitive Benchmarking

33. Global Property Management Service Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Property Management Service Market

35. Property Management Service Market Future Outlook and Potential Analysis

35.1 Property Management Service Market In 2028 - Countries Offering Most New Opportunities
35.2 Property Management Service Market In 2028 - Segments Offering Most New Opportunities
35.3 Property Management Service Market In 2028 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer