Branded residences have been around for the last century, but it is in the last two decades that the sector has really taken off, says international real estate adviser Savills in its new Spotlight on Branded Residences report.
The reports estimates that there are now more than 400 branded residential schemes globally, with a combined stock of approximately 55,000 residential units.
Hotel brands are the dominant force and account for some 85% of schemes.
Marriot International is the largest single player with a market share of 31% among hoteliers by number of schemes.
But the largest individual brand by number of schemes is not a hotelier, but Yoo, a brand built on design credentials. It has more than 50 branded schemes in operation.
Riyan Itani, head of international development consultancy, Savills, said, “Cash-rich, time-poor, brand-conscious individuals are attracted by the quality of design, security and high levels of service that branded residences offer. Hoteliers are actively diversifying into residential whilst developers are now recognising the value-add of a brand in an increasingly competitive marketplace.”