Savills’ forecast for global real estate over the next 10 years are informed by two key factors: where young people gravitate to, and cities with protection from natural disasters.
According to Mansion Global, cities earmarked for growth include the youth-dominated Auckland, Austin, and Edinburgh, while Pittsburgh and Portland should get ready to welcome millennial retirees (scary thought!) in the future.
The largest increases in rents are expected in emerging markets such as Jakarta, Indonesia and Shenzhen, China, which are the markets, as the report notes, where young people are gathering. In comparison, established markets will become home base for aging populations in need of young workers.
[Mansion Global] — E.K. Hudson