# Global Real Estate Market

According to the latest data from Savills, the total global real estate market reached an estimated $379.7 trillion valuation in 2023, reinforcing its position as the world's largest asset class. This figure surpasses global GDP by approximately 3.5 times and significantly exceeds the combined value of global debt and equity markets.

The global real estate markets can be segmented into several categories:

* **Residential Real Estate:** $315.9 trillion (83.2% of total)
* **Commercial Real Estate:** $36.8 trillion (9.7% of total)
* **Agricultural Land:** $23.2 trillion (6.1% of total)
* **Forestry:** $3.8 trillion (1.0% of total)

Geographic distribution of global real estate value:

* **North America:** 28.9%
* **Europe:** 23.3%
* **Asia Pacific:** 41.5% (with China accounting for 26.9% of global value)
* **Rest of the World:** 6.3%

Residential real estate remains the dominant sector, comprising 83.2% of total global real estate value. The concentration of value in developed regions persists, with a strong correlation between property prices, home ownership rates, and per capita GDP.
