Real Estate Market Size by Country: October 2026

Investors, lenders and anyone moving abroad eventually ask how big one country's property market is next to another's. The answer turns on three choices: whether size means the yearly income property generates or the value of the buildings and land themselves, which currency conversion is used, and whether the figure covers homes owned by the people who live in them. A single ranking hides that a country's real estate output and its property wealth can sit in very different places, and that recent price swings move one faster than the other.

We compiled national accounts and price data for up to 41 economies from three public publishers: the Organisation for Economic Co-operation and Development (OECD), the Bank for International Settlements (BIS) and the Federal Reserve Board. The headline figure is OECD's measure of value added by real estate activities, which was $3,712.5 billion in the United States in 2024, the largest of the 41 economies in the OECD table. Annual data run from 2019 through 2024, balance sheet values are for the end of 2023, and price changes run through the second quarter of 2026. We converted every non-dollar OECD figure from national currency to U.S. dollars using OECD exchange rates or purchasing power parities (PPPs), and the formula appears below each table.

Real Estate Activities Value Added by Country, 2024

Value added is the industry's output minus what it buys from other industries, and in national accounts it includes the rent that owner-occupiers are treated as paying themselves (OECD, Understanding National Accounts, PDF pp. 20 and 140). Fees on individual deals are covered in our data on real estate commissions and property management fees.

Sources: OECD, Annual value added and its components by economic activity (Table 6) and OECD, Annual Purchasing Power Parities and exchange rates (Table 4) (accessed Oct. 22, 2026). Values are current prices for activity L (real estate activities). Calculated: US$ value = national currency value / 2024 average exchange rate (national currency per U.S. dollar); PPP value = national currency value / 2024 PPP for GDP; share = real estate activities value added / total gross value added, both in national currency. Example, Japan: ¥80,377.7 billion / 151.366291 = $531.0 billion. Gross value added excludes taxes less subsidies on products, so it is smaller than GDP (same source, PDF p. 140). OECD data for 2024 were not available for Canada (latest 2022), New Zealand or Saudi Arabia (latest 2023), and the table has no series for China, India or Brazil. Provisional values as flagged by OECD.

Real Estate Share of Gross Value Added, 2019 to 2024

The real estate share shows how much of each economy's output comes from property, which removes exchange rate swings from the comparison. The table covers the G20 members with a complete OECD series from 2019 through 2024.

Source: OECD, Annual value added and its components by economic activity (Table 6) (accessed Oct. 22, 2026). Calculated: share = real estate activities value added (activity L) / total gross value added, current prices, national currency. OECD flags Germany's 2023 and 2024 values, Mexico's 2023 and 2024 values and France's 2024 value as provisional.

Value of Household Dwellings and Land, End of 2023

Value added measures yearly income, while national balance sheets measure the stock of property itself. This table shows dwellings and land owned by households and the nonprofit institutions that serve them at the end of 2023.

Source: OECD, Annual balance sheets for non-financial assets (Table 9B) and OECD, Annual Purchasing Power Parities and exchange rates (Table 4) (accessed Oct. 22, 2026). Sector: households and non-profit institutions serving households. Dwellings are the net stock (asset N111N); land (asset N211N) covers all land the sector owns and is not limited to land under dwellings. Calculated: US$ value = national currency value / 2023 end-of-period exchange rate (national currency per U.S. dollar); dwellings plus land = dwellings + land. Provisional and estimated values as flagged by OECD; "Not reported" means OECD shows no value for that country, asset and year.

Valuation methods differ between sources, so these figures don't line up exactly with other national estimates. The Federal Reserve's Financial Accounts value real estate held by U.S. households and nonprofits at market value, at $48,842.7 billion at the end of 2023 and $54,073.9 billion at the end of the second quarter of 2026 (Federal Reserve Board, Financial Accounts of the United States Z.1, Q2 2026, Table S1M.b line 3).

Residential Property Price Change in G20 Countries, Latest Quarter of 2026

BIS publishes one residential price series per country, chosen to be as close to nationwide coverage as possible, and the table lists every G20 member with a BIS series. Price trends affect how quickly homes change hands, covered in our data on how long it takes to sell a house.

Source: BIS, Residential property prices, selected series (accessed Oct. 22, 2026). Change from the same quarter one year earlier, as published by BIS. BIS deflates the inflation-adjusted series by consumer prices. Japan's latest available quarter is Q4 2025. Index coverage and methods vary by country.

What the Country Data Shows

How big a country's real estate market looks depends on whether you count yearly output or the stock of homes and land, and on the conversion rate used. Recent price changes show those stock values have kept moving since the end of 2023.

Sources

• OECD (2026). "Annual value added and its components by economic activity" (Table 6). OECD Data Explorer. Accessed October 22, 2026. https://data-explorer.oecd.org/vis?df%5Bds%5D=dsDisseminateFinalDMZ&df%5Bid%5D=DSD_NAMAIN10%40DF_TABLE6&df%5Bag%5D=OECD.SDD.NAD
• OECD (2026). "Annual Purchasing Power Parities and exchange rates" (Table 4). OECD Data Explorer. Accessed October 22, 2026. https://data-explorer.oecd.org/vis?df%5Bds%5D=dsDisseminateFinalDMZ&df%5Bid%5D=DSD_NAMAIN10%40DF_TABLE4&df%5Bag%5D=OECD.SDD.NAD
• OECD (2026). "Annual balance sheets for non-financial assets" (Table 9B). OECD Data Explorer. Accessed October 22, 2026. https://data-explorer.oecd.org/vis?df%5Bds%5D=dsDisseminateFinalDMZ&df%5Bid%5D=DSD_NASEC10%40DF_TABLE9B&df%5Bag%5D=OECD.SDD.NAD
• OECD (2006). "Understanding National Accounts." https://www.oecd.org/content/dam/oecd/en/publications/reports/2007/01/understanding-national-accounts_g1gh7e48/9789264027657-en.pdf
• Bank for International Settlements. "Residential property prices - overview" (selected residential property prices data set). BIS Data Portal. Accessed October 22, 2026. https://data.bis.org/topics/RPP
• Board of Governors of the Federal Reserve System. "Financial Accounts of the United States, Z.1, Second Quarter 2026." September 11, 2026. https://www.federalreserve.gov/releases/z1/current/z1.pdf

Figures are shown as published by the sources named under each table. How we source and correct: editorial and corrections policy. Spotted an error? Contact us.