The total value of global real estate reached $393.3 trillion at the start of 2025, according to new research from Savills, cementing property’s role as the world’s most significant store of wealth.
The international real estate advisor notes that real estate—spanning residential, commercial, and agricultural land—continues to outpace other major asset classes in scale, surpassing the combined value of global equities, debt, and gold. By comparison, the total value of all the gold ever mined is estimated at $20.2 trillion, equal to just over 5% of global real estate’s worth.
Since 2019, the aggregate value of global real estate has risen by 21.3%, broadly mirroring global GDP growth of 25.6% over the same period. However, the sector recorded a marginal decline of 0.5% year-on-year in 2024, largely due to falling values in China’s housing market, which represents a quarter of global residential real estate.
Residential property remains the dominant segment, valued at $286.9 trillion, despite a 2.7% annual fall. By contrast, commercial real estate recorded 4.1% growth to $58.5 trillion, underpinned by new developments and stabilising values. The U.S. market benefited from increased investment into manufacturing as part of the ongoing onshoring trend. Agricultural land also saw robust performance, with its total value rising 7.9% to $47.9 trillion, supported by tight supply and rising global food demand.
Paul Tostevin, head of Savills World Research, said: “While the pace of growth may vary across sectors and geographies, real estate’s long-term fundamentals remain strong: it is a store of wealth, a driver of economic growth and development, and its ability to reflect global economic shifts ensures its continued relevance in an evolving investment landscape. While shorter-term factors, such as elevated interest rates and market cycles, can affect the values of certain types of property, long-term real estate’s position as the world’s most valuable asset class looks set to remain.”
China and the United States remain the dominant markets, together accounting for 44.2% of global real estate value. China leads with a 23.5% share, while the U.S. represents 20.7%. Along with Japan, Germany, the UK, France, Canada, Australia, South Korea, and Italy, the top ten markets comprise 71% of the world’s total property value.
