Projected Revenue Growth:
The Online Home Rental Market size was valued at US$ 15.9 Bn. in 2021 and the total revenue is expected to grow at 13.8 % through 2021 to 2029, reaching nearly US$ 44.72 Bn.
What is Online Home Rental Market scope?
The scope of the Online Home Rental Market encompasses the digital platform-based rental services for residential properties, including flats, detached houses, and semi-attached homes. This market caters to diverse end-users such as residents and tourists, with properties available across various price ranges—economy, midrange, and premium. Rental durations are categorized into daily, weekly, monthly, and yearly options. Geographically, the market spans regions including North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. This broad scope reflects the market’s adaptability to various consumer needs and regional characteristics, driven by technological advancements and shifts in living preferences.
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Online Home Rental Market Trends:
The Online Home Rental Market is experiencing robust growth, driven by increasing demand for rental properties in urban areas where living costs have surpassed average incomes. The surge in online rental services can be attributed to the rising migration to metropolitan cities and the growing trend of renting over purchasing properties. E-commerce expansion and governmental initiatives to boost residential development are further fueling this growth. However, market expansion faces challenges such as inconsistent regulations and a shortage of affordable rental options. Technological innovations are expected to offer new opportunities, enhancing the market’s ability to meet evolving consumer demands.
What are Online Home Rental Market Dynamics?
Over the course of the projection period, the online home renting industry is anticipated to increase at a high rate. The demand for rented properties in metropolitan areas where the cost of living has risen above average income is the reason behind the industry’s phenomenal surge in online home rental services. The concentration of sources of economic growth in cities has led to a global increase in the population of metropolitan areas due to migration. The growing number of migrants to metropolitan areas is driving up demand for rented residences. In a number of global megacities, the number of migrants rose by 6% to 8% in the past ten years.
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How is the Asia-Pacific Online Home Rental Market Expected to grow?
The Asia-Pacific region is anticipated to witness substantial growth in the Online Home Rental Market. This growth is largely driven by the escalating cost of living in major metropolitan areas, which has heightened the demand for rental solutions. The economic pressures and job market uncertainties are pushing individuals towards renting rather than purchasing property. The region’s burgeoning middle class and urbanization trends further contribute to the market’s expansion. As cities in Asia-Pacific become increasingly expensive, the preference for flexible and online rental options is expected to rise, bolstering the market’s growth trajectory.
What is the expected growth of Online Home Rental by Product Type segmentation?
In the Online Home Rental Market, flats are projected to dominate the product type segmentation. This preference is driven by the high demand for affordable housing solutions in metropolitan areas where owning a home is increasingly challenging. Detached and semi-attached houses are expected to see slower growth compared to flats, reflecting their higher costs and less frequent use in high-density urban settings. The trend towards renting flats aligns with the broader market dynamics of affordability and accessibility, highlighting the significant role of flat rentals in the overall market expansion.
What is Online Home Rental Market Segmentation?
by Product
•Flats
• Detached Houses
• Semi-Attached
by Price Range
• Economy
• Midrange
• Premium
by Rental Duration
• Daily
• Weekly
• Monthly
• Yearly
by End-Use
• Resident
• Tourist
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What are the key trends for Online Home Rental Market
• 9flats.com Pte (Singapore)
• Airbnb Inc (US)
• Booking Holdings Inc (US)
• CoStar Group Inc (US)
• Expedia Group Inc (US)
• Lodgis SAS (France)
• Oravel Stays (India)
• Upad Ltd (UK)
• Wyndham Destinations (US)
• Zillow Group (US)
• Redfin (US)
• Trulia (US)
• Housewise (India)
• Nestway (India)
• Squareyards (India)
Key Offerings:
- Past Market Size and Competitive Landscape
- Online Home Rental Market Size, Share, Size & Forecast by different segment
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Online Home Rental Market Segmentation – A detailed analysis by Product
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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