Report Code: A12779 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Residential Construction Market
Request Now !The residential construction market consists of constructing building and selling it to the buyers. This process can be done in two ways. One in which, the architect constructs the entire building with material based on his own choices and preferences and then sells it to the buyers with a profit margin. Other involves significant contribution of buyers for the material choice and designs. Depending on the size and cost of construction project, service provider could be a large company or any independent contractor. Usually, big projects such as a township or residential society are constructed by large companies, while individual houses or small building project is constructed by individual contractors. Residential construction could be a type of housing estate or apartments. Even after effective construction of residential building, it requires time to time maintenance and renovation sometime, which creates and after market for residential construction business. The residential construction market is expected to grow significantly due to increasing population and lack of new residential areas especially in tier 1 cities.
COVID-19 Impact analysis
Top Impacting Factors
Increase in population is demanding more space for accommodation, especially in tier 1 cities. To fulfill the demand, construction activities are increased by both government bodies and private sector companies. Governments in many countries such as India are also emphasizing on the development of rural areas. These are the key factors that have been fueling the growth of the residential construction market. In addition, younger generation is dominating the population in age segment in emerging economies such as India, Japan, and China. Younger generation is easily attracted toward the newly designed houses in comparison to old buildings. This is another factor which drives the growth of the residential construction market. Scarcity of building material raises the cost of overall construction, which is projected to hamper the growth of the residential construction market at a global level.
Market Trends
Key Benefits of the Report
Residential Construction Market Report Highlights
Aspects | Details |
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By Budget |
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By Sales Type |
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Key Market Players | GI Homes., Century Communities,, Meritage Homes Corp.,, NVR,, Toll Brothers,, Taylor Morrison,, D.R. Horton,, Lennar Corp.,, KB Home,, PulteGroup, |
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