The top 50 emerging markets represented in A T Kearney’s recent Real Estate Opportunity Index spent a combined total of $1.7 trillion on construction in 2007, with a five-year CAGR (compound annual growth rate) of up to 6 per cent.
The US credit crunch and financial meltdown are pushing a growing number of real estate investors to look outside the United States and Europe for opportunities, it said.
Robert Zielger, vice president, A T Kearney added that international property developers are finding these large and rapidly growing markets too attractive to ignore.“Developers grow within their local geography until they run out of opportunity or need to diversify their risk profile. For a sustainable business strategy, companies have to expand internationally during the good times to be prepared for the bad.”
Focusing on a short list of emerging markets globally, the index weighs real estate development potential based on construction spending and growth as well as a combination of country risk and ease of doing business.
The global real estate industry as a whole is not in the same desperate situation as the US, and is keeping the industry afloat. China and India are growing at such a rapid rate, that they dominated the index by a vast margin with Thailand in third place.........
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