Real Estate Appraisal Market Report

Market Insights

The Global Real Estate Appraisal Market is estimated to grow from USD xx billion in 2020 to USD xx billion by 2026 at a healthy CAGR of xx % during the forecast period. The U.S. Real Estate Appraisal Market was valued at USD 7.6 billion in 2020.

Figure: Global Real Estate Appraisal Market Size, 2020-2026 (USD Billion)

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What are Real Estate Appraisals?

Real estate appraisal, also known as land or property valuation is the process of developing an opinion of value or valuation of real property. Real estate transactions generally require appraisals as they occur infrequently and every property is unique. The financial crisis has played a vital role in shaping the relevant regulations of the appraisal process. The appraisal of a property plays an important role in shaping the relevant regulations of the appraisal process. The appraisal of a property could be done either through a third-party or in-house known as Appraisal Management Company (AMC).

Market Players

Key players operating in the global real estate appraisal market are-

• CoreLogic, Inc. (The U.S.),
• Real Matters, Inc. (Canada),
• Wells Fargo & Company (The U.S.),
• JP Morgan Chase & Co. (The U.S.),
• CBRE (The U.S.),
• The Accurate Group (The U.S.),
• Clarocity (The U.S.), and
• Flatworld Solutions Pvt. Ltd. (India). 

Market Dynamics

The housing sector is flourishing in both developed and developing countries across the globe.

• The rising trend of residential societies in the developing economies to provide shelter to the ever-growing population is the key driver.
• Also, substantial growth in the commercial building sector such as hotels, resorts, and related hospitality buildings further propels the demand for real estate appraisal services.
• However, the valuation of the house at a lower cost than the actual market size can pose a loss to the consumer, resulting in trust challenges, thus affecting the market growth.

Market Segmentation

Type Trends

The global real estate appraisal market has been categorized into residential, commercial, and industrial.

• The residential segment garnered the largest share in 2020 and is projected to register a healthy CAGR by the end of 2026.
• This is mainly attributed to increasing purchasing power, rising construction of housing complexes in urban cities, as well as formation of nuclear families.
• The consumers demand for real estate appraisal services is increasing as the market is facing fluctuations and these services can enable to offer a right valuation of the property.

Regional Trends

By region, Asia Pacific witnessed the largest market share in 2020.

• This is mainly attributed to the booming construction activities in the developing economies of China, India, and South Asian countries of Hong Kong, Singapore, and Indonesia among others.
• Moreover, increasing standards or living as well growth in nuclear family results in the sales of old apartments to shift to a new house, thus drives the market growth in the region.

COVID-19 Impact on Global Real Estate Appraisal Market

The companies are rearranging their operations and recovering from the unprecedented COVID-19 impact, which earlier has led to restrictive containment measures involving remote working, social distancing, and the closure of commercial activities that led to operational challenges, affecting the market growth. The pandemic has severely hit both residential and non-residential construction markets, thus negatively influencing the real estate appraisal market.

Critical Questions Answered in the Report

• What are the key trends in the global real estate appraisal market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
• What is the impact of COVID-19 on global real estate appraisal market?
• What are the key strategies adopted by the major vendors to lead in the global real estate appraisal market?
• What is the market share of the top vendors?

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Target Audience

The following is a list of the customers that the Real Estate Appraisals market aims to convert the most:

• Real estate appraisal companies
• Real estate companies
• Real estate agencies
• Construction companies
• Housing societies

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