LONDON, Nov. 21, 2017 /PRNewswire/ --
Urbanization and New Household Formation in China and India to Drive Global Housing Market
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Large urban construction projects in China and increasing rural-to-urban migration
in India continue to aid new
global housing construction, particularly for multifamily housing
units.
Additionally, new household formation and rising incomes for the
under-30 population in these countries is creating a large pool of
first-time homebuyers.
Key Findings in the Global Housing Study:
Strong Growth in US Single-Family Housing Completions to Bolster
Demand
Through 2021, the rapid growth in new single-family housing
construction in the US will boost global gains and make the
North America region the fastest
growing in the world.
Growth will be driven in part by demand finally keeping up with new
household formation following the precipitous declines in housing
construction during the Great Recession.
Government Programs in Developing Countries to Combat Housing
Shortages
Many developing nations in Central & South America, Africa, and the Middle East are suffering from extreme
shortages of formal housing units.
As a result, several of these countries' governments have enacted
national housing programs, varying in scope from providing free
housing to offering significant subsidies for home loans and rental
units.
Several West European Countries at Risk of a New Housing
Bubble
Across much of Western Europe,
home prices are reaching record levels and growing at an
unsustainable pace.
Many governments in the region are enacting measures to curb price
growth in order to avoid the potential pitfalls of similar market
conditions that contributed to the global financial crisis.
Study Coverage
This study presents historical data (2006, 2011, and 2016) and
forecasts for 2021 for new housing construction and housing stock
by housing type (single-family and multifamily), region, and
country.
Regions and countries profiled in the study include:
North America:
- United States
- Canada
- Mexico
Central & South
America:
- Argentina
- Brazil
- Chile
- Colombia
- Peru
- Venezuela
Western Europe:
- Austria
- Belgium
- Denmark
- Finland
- France
- Germany
- Greece
- Ireland
- Italy
- Netherlands
- Norway
- Portugal
- Spain
- Sweden
- Switzerland
- United Kingdom
Eastern Europe:
- Bulgaria
- Czech Republic
- Hungary
- Poland
- Romania
- Russia
- Slovakia
- Slovenia
- Ukraine
Asia/Pacific:
- China
- Hong Kong
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Australia
- New Zealand
Africa:
- Egypt
- Nigeria
- South Africa
Middle East:
- Iran
- Iraq
- Israel
- Saudi Arabia
- Turkey
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