Weekly Real Estate News
The global market size for the real estate investment trust (REIT) is estimated to grow by $350.2 billion from 2024-2028 with a compound average growth rate of 2.87%, according to a new forecast from Technavio.
The North American market is expected to account for roughly half of this sector’s growth, which the new forecast predicting to be fueled by the self-storage sector and the expansion of properties associated with global e-commerce operations.
“The industrial sector led the global REIT market in 2023, driven by the rising demand for industrial space,” the report said. “The Covid-19 pandemic fueled e-commerce growth, resulting in increased warehouse requirements for companies. Supply chain disruptions necessitated additional inventory storage, leading to increased occupancy and rental rates. Furthermore, in online consumers necessitated the establishment of warehouses and fulfillment centers near metropolitan areas by e-commerce companies. These factors create substantial expansion opportunities for industrial REITs, contributing to market growth throughout the forecast period.”
