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Sustainability and affordability key drivers for real estate, report claims

12th March 2024

The real estate sector is poised at a critical juncture, with hopes of a resurgence in investment activity, claims the latest Emerging Trends in Real Estate® Global Outlook 2024, jointly released by PwC and the Urban Land Institute (ULI).

The report, amalgamating insights from thousands of real estate leaders across Europe, the United States, and Asia Pacific, suggests optimism brews for a gradual rebound from one of the most severe investment downturns in recent years.

Thomas Veith, PwC global real estate leader, emphasised the imperative for sustainable adjustments in the industry, highlighting a growing preference for alternative property sectors driven by demographic shifts, digitalisation, and decarbonisation imperatives.

Lisette van Doorn, CEO of ULI Europe, stressed the potential role of market dynamics in advancing environmental agendas, including decarbonization efforts, as investors wield greater negotiation power amid distress scenarios.

The report reveals a shifting investment landscape, with housing, logistics, and alternative sectors gaining prominence, particularly in light of challenges associated with affordable housing. Socio-political concerns such as housing affordability and social equity are gaining traction globally, influencing investor attention and political agendas.

The report also delves into changing occupier needs, stressing the importance of aligning real estate offerings with evolving demands driven by demographic shifts and climate change. 

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