1、THE 2017 REPORT The Future Of Real Estate In The Worlds Leading Cities 3 3 We live in a remarkable era. Around the world over 490 million people reside in countries with negative interest rates. Over 60% of the worlds citizens now own a smart phone. An estimated four billion people live in cities, w
2、hich is up by 23% on ten years ago. The above figures highlight three key trends that are shaping our times. Firstly, the era of low to negative interest rates has reduced investors expectations on what constitutes an acceptable return. The financial rollercoaster ride that led to this situation has
3、 made safe haven assets highly sought after. Secondly, a volatile economy has not stopped an avalanche of technological innovation. Smartphones, tablets, WiFi and 4G have revolutionised the spread of information, increased our ability to work on the move, and led to a flowering of entrepreneurship.
4、Thirdly, our fast growing cities are centre stage in the innovation economy, and in most of the Global Cities, supply is not keeping pace with demand for both commercial and residential real estate. Consequently, tech and creative firms are increasingly relying upon pre-let deals to accommodate grow
5、th, while their young workers struggle to find affordable homes. The previous two editions of Global Cities charted the rising importance of technology firms and creative workers to established business hubs like New York, San Francisco, London and Paris. This edition shows that the tech and creativ
6、e economy has spread to emerging market cities like Shanghai and Bangkok, and tier-two western cities like Austin and Berlin. However, the common message coming from the 34 Global Cities surveyed in this report is that the urban economy is increasingly people-centric. Whether a city is driven by fin