Report: Global urbanization to fuel massive development
Rapid urbanization and demographic changes will drive the global stock of institutional-grade real estate up from $29 trillion in 2012 to $45.3 trillion in 2020 and as high as $69 trillion in 2030, according to the latest report from PwC — Real Estate 2020: Building the future.
The growth will be felt strongest in developing countries, where an expected 8.9 percent compound annual growth in investable real estate stock will bring the total supply in these countries up to $20.3 trillion by 2020 — nearly double what it is today and nearly five times what it was in 2004. This will increase the percentage of the global real estate market in developing countries from 24 percent in 2004 to 45 percent in 2020.
Urbanization will happen globally, but nowhere m