China has the most valuable real estate market in the world, Spain is 15th

The real estate sector as a whole continues to hold the largest concentration of wealth in the world, despite the current context of economic uncertainty. The value of real estate worldwide - including residential, commercial and agricultural - has reached $379.7 trillion by the end of 2022.

In terms of countries, China is the most valuable market as it accounts for 26% of the total market value. It is followed by the US, Japan, Germany, the UK and France. The G7 countries and China account for more than two-thirds of the total value of the global real estate market. Spain ranks 15th with $3.66 trillion, according to the Savills World Research report. Canada ranks 7th and Australia is 10th.

The value of real estate worldwide exceeds the value of all stocks ($98.9 trillion) and bonds ($129.8 trillion) combined and is nearly four times the world's GDP ($100.6 trillion). Overall, real estate values in 2022 are down 2.8% from 2021, but remain 18.7% above 2019 levels. Growth in the value of various types of real estate slowed in 2022 compared to 2020-2021 due to higher inflation and rising interest rates.

The residential segment is' '76% of total global real estate value, with $287.6 trillion, down 1.6% from 2021 ($292.2 trillion) but up 21.1% from 2019 to 2022. Commercial real estate value accounts for 13% of total value at $50.8 trillion, down 1.8% from 2021 ($51.7 trillion) but up 14.4% from 2019, and ahead of farmland value, which accounts for 11% of total value at $41.3 trillion, down 11.4% from a year earlier ($46.6 trillion in 2021) and up 8.8% from 2019.

The value of residential real estate rose 21.1% between 2019 and 2022 - surpassed only by gold - thanks to very low interest rates during this period, as well as a focus on housing in many countries during' 'quarantines. Given the underdeveloped nature of some real estate assets in some locations on a long-term basis, growth will continue as more facilities are introduced globally.