Community Housing Services Market:
WiseGuyReports.com adds “Global Community Housing Services Market Research Report 2021 Analysis and Forecast 2030” reports to its database.
The global community housing market is expected to decline from $77.2 billion in 2019 to $75.9 billion in 2020 at a compound annual growth rate (CAGR) of -1.64%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $81.7 billion in 2023 at a CAGR of 2.43%.
The community housing services market consists of the revenues from community housing services and related goods by establishments primarily engaged in providing short-term shelter for victims of domestic violence, sexual assault or child abuse, a temporary residential shelter for the homeless, runaway youths, patients and families caught in medical crisis, transitional housing for low-income individuals and families, and for elderly or disabled homeowners. Establishments that volunteer construction or repair of low-cost houses in partnership with the homeowners who assist in construction or repair of a home, subsidize housing using existing homes, apartments, hotels, or motels, or those involved in a low-cost mortgage or work for all the said end-users, are included in this market.
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North America was the largest region in the community housing services market in 2019. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
In July 2020, Housing Choices Australia Ltd., an Australia-based NGO, merged with Access Housing Australia Ltd. This merger will help Housing Choices Australia Ltd. to create more housing choices and opportunities for current residents while respecting the local culture, history and tradition of both organizations. Access Housing Australia Ltd is a leading Western Australia community housing NGO. It was founded in 2007.
The community housing services market covered in this report is segmented by service into temporary and emergency shelter services; permanent housing support services; transitional and assisted housing services; volunteer construction or repair services; others and by end-users into victims of domestic violence, sexual assault or child abuse; homeless; runaway youths; parents and families caught in medical crises; low-income individuals and families; elderly or disabled.
Re-entry services are increasingly being provided for the people exiting prison. A majority of this population face homelessness after their release and have nowhere to go. Therefore, many NGOs have come forward to help them provide shelter. For instance, the US-based Lionheart Foundation provides shelter to this population and its Houses of Healing (HOH) program helps improve prisoners’ lifestyle by providing them with services like transformative programs for prisoners, HOH guide book, HOH video series and many more.
The federal funding for social services is a major driver for the community housing services market. Funding from the government helps many homeless people get shelter. Many programs are run by different countries to assist homeless people. For instance, in the US, every year the Federal Government allocates funds to States/Territories to support social services for vulnerable children, adults, and families through the Social Services Block Grant (SSBG). In India, ‘Pradhan Mantri Gramin Awaas Yojana’ focuses on providing pucca houses with basic amenities to homeless families. The objective of this scheme is to build one crore of homes of 25 sqm by 2022. The government of India also launched the Shelter for Homeless program under the National Urban Livelihood Mission (NULM). Under this program, various types of shelters such as men shelter, women shelter, family shelter, and special shelter (for old age, mentally ill, sick persons) are provided. The government of India will finance 75% of the expense for the development of these shelters and the other 25% will be the State commitment. The Indian government is also working on providing rental housing to urban poor belonging to scheduled castes, scheduled tribes and other backward classes, migrants, transgender, and senior citizens. Therefore, different types of federal funding will help drive the market for community housing services.
Major players in the community housing services market are Fair Community Housing Services Limited, Nestle Community Housing Services Ltd, Community Housing Services-Crossroads Villa, Inc, Community Housing Partners, Community Housing Ltd and SRM Housing Services Private Limited.
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