Where America ranks for real estate riches versus other nations

Revealing the world's housing wealth hotspots

Far more than mere shelter, property is the world's biggest store of wealth, with global residential real estate worth a staggering $286.9 trillion, almost three times the planet's combined GDP. But this colossal fortune isn't shared evenly.

Just 10 countries sit on over 71% of the world's total residential value, shaping prices, investment flows, and market momentum worldwide.

Click or scroll on to discover which nations command the top spots, according to Savills World Research.

All dollar values in US dollars

The state of global housing wealth

Despite a challenging few years post-COVID, global residential property wealth now stands 19% above its 2019 level, fueled by the surge in home prices that swept much of the world during the pandemic.

At the same time, a major downturn in the planet's most valuable market has tugged at the global total, as softer prices and slower construction have tempered momentum. This has taken the shine off gains made in other major economies.

Joint 9. Italy: $6 trillion

Italy returned to the top 10 in 2024, driven by rising demand and tight housing supply in major cities that continue to lift prices. Lifestyle appeal and favorable tax incentives are drawing hordes of international buyers, with Milan at the center of activity.

Looking ahead, Italy’s residential market is forecast to lead Europe in 2026, with housing transactions expected to exceed $166 billion, even as limited new home construction begins to cap growth.

Joint 9. South Korea: $6 trillion

South Korea's residential market is worth roughly the same as Italy's, though the wealth is more concentrated given its smaller population. Since the pandemic, prices have been on something of a rollercoaster ride, though sentiment is heating up again in 2026 after a disappointing period.

The nation's housing price outlook index climbed to 124 in January, the highest since 2021, buoyed on by rapidly rising Seoul apartment prices amid constrained supply and fierce demand.

8. Australia: $7 trillion

Australia has stormed up the rankings in recent years. With the smallest population in the top 10, it now holds the highest level of housing wealth per person, at more than $258,000. Values have been pushed to extremes because home building simply hasn't kept up with a massive wave of new residents.

The market is expected to remain firm for the foreseeable future, supported by cheaper mortgages and continued pressure on limited housing stock, with little let-up in the ongoing supply crunch.

7. Canada: $8 trillion

Canada's residential market has also surged on the back of substantial population growth and a chronic housing shortage, much like Australia's. Tight supply in major cities has kept values high, despite government efforts to rein in prices, which have included a multi-year ban on non-resident foreign buyers.

As mortgage rates ease this year, demand is expected to reignite, further squeezing a housing stock already stretched to its limit by a lack of new construction.

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6. France: $9 trillion

France's residential property market hit a high point in 2021, when home sales topped a record-breaking 1.2 million. A pronounced slowdown then set in as rising interest rates and inflation muted demand through to 2025. The slump now appears to be easing, offering a welcome boost for homeowners.

Buyer confidence is finally beginning to return as borrowing costs settle, with the market looking a whole lot brighter in 2026.

5. UK: $11 trillion

The UK’s residential property market was red-hot during the pandemic-era boom, before higher interest rates and the cost-of-living crisis cooled activity from 2022 onwards. Transaction volumes fell as affordability worsened, particularly in London, even as the capital's housing stock approached an unprecedented $2.7 trillion in value.

Nationwide, the market is now showing clear signs of recovery, with healthy buyer demand and a sharp price uptick at the start of the year, thanks in part to lower interest rates.

4. Germany: $14 trillion

Germany's mammoth residential property market has been on a similar trajectory. After a buying frenzy during the early part of the pandemic, the market hit the skids in 2022 when interest rates and living costs skyrocketed.

Prices fell by 13% between early 2022 and the middle of 2024. But Germany's rebound has come sooner than the UK's. The tide started turning last year and prices are currently trending upwards as the recovery continues.

3. Japan: $17 trillion

Japan’s residential property market gained fresh momentum during the pandemic, when foreign investment in housing more than doubled as a weak yen made homes cheaper for overseas buyers. With the currency remaining soft, the trend has continued, though demand is almost entirely focused on major cities. Japan's rural areas, on the other hand, offer some of the world’s most affordable housing.

International interest is expected to remain a key pillar of the market in 2026 and beyond, with domestic demand poised to be subdued in an ageing, shrinking population.

2. USA: $52 trillion

America's housing market has almost doubled in value since 2020, when it was worth about $28.4 trillion and accounted for roughly 11% of the world's residential property wealth. Today, it makes up 18% of the global total.

Most of that leap came during the pandemic-era buying bonanza, when cheap mortgages and a rush for space sent prices soaring. The mood then soured amid rising interest rates, but the market is now settling into a steadier, more balanced phase as conditions begin to normalize.

1. China: $74 trillion

China sits on over a quarter of the world's residential property wealth. Yet spread across its enormous population, that translates to the lowest housing wealth per person in the top 10, at around $52,000.

The market's fortunes turned decidedly sour in 2021, when tighter debt rules exposed heavily leveraged developers and tipped the sector into a prolonged slump. Despite hundreds of government 'rescue' policies, new construction, prices and sales have continued to slide, even in Beijing and Shanghai, leaving the outlook for 2026 firmly downbeat.

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