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The branded residences market is set to grow by 55% by 2026 globally

The branded residences market is set to grow by 55% by 2026 globally

The global market for branded residences, which are residential complexes managed by international hotel operators in most cases, continues to grow steadily. According to the Global Branded Residences Report 2023 by Knight Frank, there are currently 324 projects with over 26,000 residential units in 52 countries, with 186 active projects worldwide. Spain is considered a key market in this segment, along with the United States, the United Kingdom, Australia, and France, as preferred destinations for second home purchases.

North America accounts for nearly 40% of all branded residence projects, followed by the Asia-Pacific region (20%) and Europe (13%). The United States leads with 106 projects, and Mexico, the United Arab Emirates, Thailand, the United Kingdom, and China also show double-digit growth.

Ritz-Carlton and Four Seasons are the top hotel brands in terms of the number of projects, while Aman and Six Senses have the highest growth rates, with 68% and 67% of their total portfolios in the development phase, respectively.

The rise of branded residences is attributed to factors such as global wealth creation and the recovery of long-distance travel. Despite a 3.8% decline in the global population of ultra-high-net-worth individuals (UHNWIs) in 2022, trends suggest a 28.5% growth in this population between 2022 and 2027. The United States and China are expected to contribute significantly to global wealth creation, while other countries such as Canada, Australia, India, Germany, and the United Kingdom will also see substantial increases in the number of billionaires.

Sales of prime and super-prime properties have rebounded, and key markets like the United States, the United Kingdom, Australia, Spain, and France are preferred destinations for second home purchases. Hotel stays have also been steadily recovering since the pandemic, and global travel is projected to increase by 31% above pre-pandemic levels by 2027, with significant growth in Africa, the Middle East, and Asia.

Reed the original article: https://brainsre.news/el-mercado-de-branded-residences-crecera-un-55-hasta-2026-a-nivel-global/

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