Global real estate sector forecast for 2015

The restrictions on foreign owner has made simpler, as 2014 has ended, there are five key trends to look out for the upcoming real estate in 2015.

33Modification to foreign ownership laws
In several developing markets foreigners are not allowed to buy property, for example in Philippines a non Philippine cannot own a land, this is banned by this countries constitution. Nevertheless in 2015 there are few indications on such laws being altered? 2015 will see countries in the Association of Southeast Asian Nations (ASEAN) unite to form a single market. The (ASEAN) will heighten foreign direct investment in the Philippines and also the markets which are not recognized will get improved. In 2015 the foreign ownership laws will get modified in other parts of Asia as well, there is also on going debate in Indonesia and Myanmar in regard to opening up the countries’ property sectors to investors across the world.

Escalating the investor interest
As per the records the (FDI) Foreign direct investment has beat record increase and this will be continued in 2015 as well. The share of global FDI projects in Africa has also been rising on a consistent basis. According to latest report from the African development Bank, the United Nations Development Program and the Organization for Economic Cooperation and Development forecast that FDI in the continent has a record of $80 billion in 2014, and the chief contributor was real estate. According to last year data, Ernst & Young’s Africa attractiveness survey discovered that FDI developments in the real estate, hospitality and construction industry had raised by 63 percent, thereby the sector becomes the fifth most location preferred by foreign investors.

Growing middle classes heightens demand
Countries such as Indonesia have witnessed considerable growth of their middle class. In addition to the strong economic growth in the country, the amount of middle class and wealthy Indonesians is anticipated to hit more than 140 million people by 2020, as per the studies from the Boston Consulting Group. The influence of this scenario cannot be undervalued, as it continued to be felt in 2015. When people become more wealthy, this also leads to better educated, which inturn makes people more of career-minded and therefore purchasing power raises – including within the property market. They buy houses earlier and more frequently, causing to raise yield and demand for property.

Mobile internet change property industries
Across the developing markets, a huge number of population are changing to online every year. But the internet upheaval in developing countries has been different to the digital wave that already swept the urbanized world. For a lot of people in these regions, the first time they

use the website is most likely to be on the mobile phone. This trend has been mainly distinct in Latin America. During Q3 of 2014, more than 1.1 million sessions on the popular property portal of Mexico and it was done using mobile devices. In Colombia, over half (51.25 percent) of new sessions on the same property portal website is mobile devices. For those having occupation in the real estate industry, this indicates their focus for 2015 shall change to mobile for marketing their properties and to attain the highest number of prospective customers.

High growth – and optimism – continues
According to a latest study carried out by a popular property portal real estate agents from all over the developing markets forecasted a rise in growth for their national property sectors in 2015. In Saudi Arabia, almost a quarter (23 percent) of agents anticipates there will be increase of eight to 10 percent over the next year. Very same results were witnessed in Asia and the Middle East. In Sri Lanka, where the real estate sector has lengthened swiftly since the country’s civil war got over, more than half the agents surveyed by estimate growth of eight percent or above in 2015. The survey also was able to record huge level of confidence amongst property agents, with 65 percent brokers in Pakistan, Sri Lanka, Myanmar and Indonesia unfolding their viewpoint as prospective for 2015. Confidence among brokers in the Philippines is significantly high – nearly 93 percent of those surveyed were optimistic about the year 2015.

Buying/ Selling Property
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