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Global Housing

Publisher Freedonia Group
Published Mar 07, 2023
Length 482 Pages
SKU # FG17791167

Description

Global Housing

Global construction of new housing is expected to increase 2.0% per year through 2026 to 60.4 million units. Gains will be supported by:
  • increasing rural-to-urban migration and rising populations in the Asia/Pacific and Africa/Mideast regions, increasing demand for multifamily units in urban centers
  • rising income levels in many developing countries in the Asia/Pacific and Africa/Mideast regions
  • ongoing efforts to boost the supply of social housing in order to reduce the population living in substandard, informal dwellings
However, new housing construction will be limited by:
  • slow growth in North America and Western Europe resulting from high construction costs, rising mortgage interest rates, long lead times for construction projects due to labor shortages, and weak population gains
  • declines in China – the world's largest housing market – stemming from population loss, defaults by large building developers, and efforts by the government to stabilize the housing market and prevent a housing bubble
Countries around the world dealt with high levels of inflation and rising mortgage interest rates throughout the course of 2022, which increased the cost of home purchases for all buyers using lending to finance their purchases. High mortgage rates and other economic uncertainty – such as that caused by the Russia-Ukraine war – are holding down housing markets in many areas as potential purchasers delay investments while they wait for conditions to stabilize.

Growth in Multifamily Housing Will Outpace Single-Family Housing


The COVID-19 pandemic disrupted housing markets in many countries. While reduced movement of people and closed economies halted construction and home sales in many areas, it also boosted purchases of larger, single-family homes away from urban centers as those who could looked to remove themselves from crowded areas.

As the pandemic winds down and government and corporate policies moderate, new multifamily housing construction will outpace that of single-family housing. Multifamily housing is often more affordable, particularly for those in crowded areas who need access to public transportation. In addition, longer term trends continue to support the market, including:
  • ongoing migration to urban centers from rural areas in developing nations such as India, Brazil, and Nigeria
  • government efforts to reduce the amount of people living in inadequate housing
  • rising interest rates and high home prices that make single-family dwellings unaffordable, especially in countries where potential buyers commonly rely on financing to back their purchases

Study Description


This Freedonia industry study analyzes the global housing industry, with construction of new housing units expected to grow 2.0% annually to 60.4 million units in 2026. The study presents historical demand data (2011, 2016, and 2021) and forecasts (2026 and 2031) for housing stock and new housing unit construction by type (single-family, multifamily).

Table of Contents

482 Pages
    • Figure 1-1.
    • COVID-19 General Trends
    • Impact on the Economy
    • Impact on the Global Construction Industry
    • Impact on Housing Construction
    • Study Scope
    • Housing Stock
    • Housing Characteristics
    • Regulatory Considerations
    • Historical Trends
    • Regional Outlook
    • New Housing by Type
    • Single-Family Housing
    • Multifamily Housing
    • North America: Housing Market Size
    • North America: Housing Stock
    • North America: Historical Trends
    • North America: New Housing Outlook
    • United States
    • Mexico
    • Canada
    • Central & South America: Housing Market Size
    • Central & South America: Housing Stock
    • Central & South America: Historical Trends
    • Central & South America: New Housing Outlook
    • Brazil
    • Colombia
    • Argentina
    • Peru
    • Chile
    • Venezuela
    • Other Central & South America
    • Western Europe: Housing Market Size
    • Western Europe: Housing Stock
    • Western Europe: Historical Trends
    • Western Europe: New Housing Outlook
    • France
    • Germany
    • United Kingdom
    • Netherlands
    • Austria
    • Spain
    • Belgium
    • Sweden
    • Italy
    • Switzerland
    • Finland
    • Norway
    • Denmark
    • Ireland
    • Greece
    • Portugal
    • Other Western Europe
    • Eastern Europe: Housing Market Size
    • Eastern Europe: Housing Stock
    • Eastern Europe: Historical Trends
    • Eastern Europe: New Housing Outlook
    • Russia
    • Poland
    • Ukraine
    • Romania
    • Czech Republic
    • Hungary
    • Slovakia
    • Bulgaria
    • Slovenia
    • Other Eastern Europe
    • Asia/Pacific: Housing Market Size
    • Asia/Pacific: Housing Stock
    • Asia/Pacific: Historical Trends
    • Asia/Pacific: New Housing Outlook
    • China
    • India
    • Indonesia
    • Vietnam
    • Japan
    • Pakistan
    • Thailand
    • South Korea
    • Malaysia
    • Philippines
    • Australia
    • Taiwan
    • New Zealand
    • Hong Kong
    • Singapore
    • Other Asia/Pacific
    • Africa/Mideast: Housing Market Size
    • Africa/Mideast: Housing Stock
    • Africa/Mideast: Historical Trends
    • Africa/Mideast: New Housing Outlook
    • Nigeria
    • Egypt
    • Turkey
    • Iran
    • Saudi Arabia
    • South Africa
    • Iraq
    • United Arab Emirates
    • Israel
    • Other Africa/Mideast
    • Report Details
    • Definitions
    • Abbreviations
    • Freedonia Methodology
    • Study-Specific Methodology
    • Sources
    • Associations & Agencies
    • Related Studies & Reports
    • Country Lists by Region
    • Macroeconomic Assumptions

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