Global property website Lamudi released its first research report on real estate in the emerging markets. The company’s inaugural white paper provides a comprehensive overview of the property sector in 16 countries in Asia, Africa, the Middle East and Latin America.
The report, Real Estate in the Emerging Markets, is based on a series of online surveys conducted with house-hunters and real estate agents in each country, as well as onsite data from Lamudi’s global network of websites. The research examines the habits of online property-seekers, while offering insights into the future of the property sector based on interviews and surveys with local property experts.
Lamudi’s Global Co-Founder and Managing Director, Paul Philipp Hermann, said: “While developed and mature real estate markets are often in the spotlight, real estate in the emerging world receives much less attention from both researchers and the media. However, over the coming years the developing world is expected to be the main engine of global growth. Lamudi’s research provides a completely original perspective of property markets in the emerging world at a time when these regions are increasingly coming into focus.”
Key findings from the report include:
In many countries, online property search is overtaking more traditional methods of looking for real estate to buy or rent, such as newspaper classifieds and word of mouth.
Optimism prevails in each market, reflecting strong growth in the property sectors of emerging countries. Real estate agents surveyed by Lamudi are overwhelmingly positive about the prospects for growth over the next 12 months.
Foreign investment in emerging markets property is increasing. Economic growth, infrastructure development and an improving standard of living are driving the increase in investment. Countries including: Indonesia, Jordan, Morocco and Colombia, have emerged as up-and-coming investment hubs.
Demographic changes are having a dramatic impact on local property markets. Many markets, particularly in Africa and Asia, are benefiting from a young population base and a growing middle class, which will underpin future growth in real estate.
The report features a series of in-depth interviews with key figures from the property industry of each country. The Global Head of Residential Research at leading property consultancy firm Knight Frank, Liam Bailey, was also interviewed about key trends in international real estate.
The 16 countries covered in the report are: Indonesia, the Philippines, Myanmar, Bangladesh, Pakistan, Sri Lanka, Jordan, Saudi Arabia, Nigeria, Kenya, Tanzania, Morocco, Ghana, Ivory Coast, Mexico and Colombia.