Report Code: A15131 | Pages: NA | Mar 2023 | 1081 Views | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Property Loan Market
Request Now !The term "property loan" refers to a loan taken by a buyer of real estate or an existing property owner to raise funds for any purpose while putting a lien on the property being mortgaged. Property loans eliminate the need for the company to rely on the financial sector to provide funds to complete a transaction. Many retailers offer property loans to make the buying process easier for their customers. Furthermore, to service a loan for a customer, retailers must either have an established lending business within their company or partner with a single third-party credit provider. Moreover, consumers benefit from property loans because they can usually get a loan through a company that they would not have been able to get through traditional financing methods like a bank. Therefore, the surge in demand for the property loan is expected to boost the growth of the property loan market during the forecasted period.
The global property loan market is segmented on the basis of type, interest rate, service provider, distribution channel, end-user and region. Based on type, the market is divided into land-purchase loan, home-purchase loan, home-construction loan, nri-home loans and others. In terms of interest rate, the market is categorized into fixed rate and floating rate. On the basis of service provider, the market is divided into public banks and private banks. On the basis of distribution channel the market is divided into online and offline. On the basis of end-user the market is divided into individual and businesses. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).
COVID-19 Scenario Analysis
Top Impacting Factors
Increase in the preference of individuals to purchase property loans and the rise in technological advancements to be implemented in lending services are driving the growth of the market. In addition, increased awareness towards access to financial services helps to propel the growth of the market. However, lack of financial reserves in semi-developed and underdeveloped countries is the factor that might limit the growth of the market. Contrarily, the growing demand for property loan services in developing economies is said to provide a lucrative opportunity for the market.
Increase in Preference to Purchase Property Loans
Property loans, especially for home financing are becoming more popular in many developing countries. In addition, the demand for lending services has risen online in recent years. Furthermore, property loan growth has increased demand for a simple lending process in several countries. Moreover, a few economies like Hong Kong have also experienced high housing demand, which has resulted in a significantly higher rate of growth in the property loan market. Therefore, the increase in the preference of individuals to use lending services for property loans is expected to drive the growth of the property loans market during the forecasted period.
Rise in Technological Advancements to be Implemented in Lending Services
With the advancement in technology with each passing day, many sectors have started adopting technology to deliver services more effectively and efficiently. Furthermore, to efficiently address their customers' needs, many lending platforms and banking firms are implementing new technologies such as artificial intelligence (AI), chatbots, and big data. In addition, some banks use customer service chatbots on their websites to answer questions, respond to common questions, and schedule appointments. Moreover, it is expected that more such services will be adopted soon. Therefore, the surge in demand for technological advancements in brokerage services is expected to drive the growth of the global property loan market during the forecast period.
Key Benefits of the Report
Questions Answered in the Property Loan Market Research Report
Property Loan Market Report Highlights
Aspects | Details |
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By Type |
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By Interest Rate |
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By Service Provider |
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By Distribution Channel |
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By End-User |
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By Enterprise Size |
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By Region |
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Key Market Players | Larsen & Toubro Infotech Limited, HDFC Bank Ltd, HSBC Bank USA, State Bank of India, JP Morgan Chase & Co, Bank of America Corporation, MetLife Services and Solutions LLC, Citigroup Inc., Morgan Stanley, Wells Fargo |
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