Despite a year-on-year decline, most countries saw values increase, driven by rising house prices and an expanding housing stock. When it comes to the top ten markets, China, the US, Japan, Germany, the UK, France, Canada, Australia, South Korea and Italy collectively account for 71% of the total global residential value. The Czech Republic ranks 34th globally, with an estimated residential value of €1 trillion.

“An increase in total residential value indicates economic growth and market expansion; however, it can also signal squeezed housing affordability,” explains Paul Tostevin, Head of Savills World Research.

China remains the largest market, accounting for 29%. The US, the second largest market, contributes 18% to the global total, up 5.1% year-on-year. New entrants into the top 10 include Australia, which moved from 11th place in 2019 to 8th in 2024. Italy moved from 12th place in 2022 to 10th in 2024. In Europe, again driven by tight supply pushing up prices, the Netherlands rose from 19th place in 2019 to 15th in 2024, and Spain from 20th to 17th.

“Residential wealth is unevenly distributed across the globe,” adds Tostevin with more details: "Europe holds a quarter of the world’s real estate value but only 10% of its population. North America, with just 6% of the global population, holds 22% of residential value. By contrast, Africa and Asia, home to the majority of the world’s population, hold a disproportionately small share of residential wealth.”

This disparity highlights the potential for future value growth in heavily populated nations with fast-growing economies. For example, India, the world’s most populous country, currently ranks only 16th by total residential value.