Money & Finance › Markets of the world › Real estate as an investment
Global real estate: about $393 trillion, the largest store of wealth
Savills, start of 2025· Asset or instrument
Fact, law or dataA rule, statute, definition or measured number.
Savills estimates all the world's property, homes, commercial buildings and farmland, was worth about $393 trillion at the start of 2025.
See it on the Money & Finance map →How it works
The estimate splits into homes, about $287 trillion (73%); commercial property, about $59 trillion; and farmland, about $48 trillion. China (23.5%) and the US (20.7%) hold the largest shares of homes plus commercial property. Housing values fell 2.7% in 2024, mainly because of China, while commercial property and farmland rose. Real estate is worth more than all the world's stocks and bonds combined and about 3.5 times world GDP. Only a small slice is held through REITs or funds.
Why it matters
Property is the largest store of household wealth and the main collateral for bank loans, so its prices drive consumer spending, bank health and many crises.
Facts, rules and data
Savills Impacts research (October 2025), built from national statistics, central-bank data and its own valuations; the figures are modeled estimates, not market prices, and earlier editions were revised.
Debates and risks
Valuing rarely traded property is hard; totals depend on assumptions, especially for China's homes, where official prices may lag what buyers actually pay.
Connections (3)
▸Global real estate: about $393 trillion, the largest store of wealth is worth more than double World bond markets: about $160 trillion of debt (2025)Fact, law or data
The connection
Savills put global real estate at about $393 trillion at the start of 2025, more than double the world bond market, about $145–160 trillion depending on source and date. The two are linked: mortgage-backed securities, including CMBS, are bonds backed by property loans.
When and why
Savills research, October 2025; SIFMA's bond-market total for end-2025.
How we know
The Savills Impacts report and the SIFMA fact book.
Debates and risks
The comparison mixes appraised values with market prices, so the ratio is an estimate.
▸Home prices and the housing market makes up about 73% of Global real estate: about $393 trillion, the largest store of wealthFact, law or data
The connection
Homes are worth about $287 trillion of the $393 trillion total, about 73%. Most are owned by households, often with mortgages, making housing the biggest single store of household wealth worldwide.
When and why
Savills' estimate for the start of 2025.
How we know
The Savills Impacts report, built from national housing data.
Debates and risks
How accurately home values can be measured in countries with few recorded sales.
▸Global real estate: about $393 trillion, the largest store of wealth lost housing value in 2024 mainly because of China's property crisis and Evergrande's collapse (2021–)Fact, law or data
The connection
China holds nearly a quarter of the world's residential value. As Chinese home prices fell, global housing value dropped 2.7% in 2024 to about $287 trillion, even as commercial property and farmland values rose.
When and why
Savills' estimates published in October 2025.
How we know
The Savills Impacts report and China's official home-price statistics.
Debates and risks
Official Chinese price data may understate the fall, so the global loss could be larger.