CLEVELAND, Oct. 1, 2018 /PRNewswire/ -- Global new
housing construction levels are forecast to increase 2.0% per year
to 60.6 million units in 2022. Together, India and China are forecast to account for over 33% of
the new homes built worldwide through 2022. Both countries are
expected to see demand for new housing continue to rise along with
their expanding middle classes and growing urban populations, as
well as the implementation of government programs to increase the
supply of low-income housing. These and other trends are presented
in Global Housing, a new study from The Freedonia
Group, a Cleveland-based industry
research firm.
More information about this study is here:
https://www.freedoniagroup.com/industry-study/global-housing-3678.htm
The fastest annual increases in new housing construction are
projected for Greece and
Spain, which both saw
double-digit declines between 2012 and 2017. Housing demand will
rise quickly due to an improved economic outlook, stabilizing home
prices, and growing interest in new property investments by foreign
buyers. Additionally, government programs to fund the construction
of new rental housing in Spain
will help boost construction. However, new housing in both
countries will remain well below historical levels.
The global housing stock is forecast to expand at a 1.5%
annual pace through 2022, rising slightly faster than the
world's population. Higher income levels will enable families
living in shared quarters to move into their own dwellings and will
help more affluent households to afford purchases of second homes.
Single-family dwellings will continue to account for close to
two-thirds of existing homes worldwide, although growing urban
populations are supporting an expanding share of multifamily
units.
About The Freedonia Group, a division of
MarketResearch.com – The Freedonia Group is a leading
international industrial research company publishing more than 100
studies annually. Since 1985, we have provided research to
customers ranging in size from global conglomerates to one-person
consulting firms. More than 90% of the industrial companies in the
Fortune 500 use Freedonia Group research to help with their
strategic planning. Additional Construction & Building Products
can be purchased at www.freedoniagroup.com,
www.marketresearch.com and www.profound.com.
Press Contact:
Corinne
Gangloff
+1 440.684.9600
cgangloff@freedoniagroup.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/greece-and-spain-housing-construction-levels-forecasted-to-grow-fastest-through-2022-300721260.html
SOURCE The Freedonia Group