GLOBAL CITIES: THE 2017 REPORT highlights the exceptional times we live in. Over 490 million people reside in countries with negative interest rates. Around 60% of the world's citizens now own a smart phone. Four billion people live in cities, up by 23% from ten years ago.
These figures highlight three trends shaping our times.
- Firstly, negative interest rates have reduced investors' expectations on what constitutes an acceptable return. This is drawing capital towards real estate.
- Secondly, a volatile economy has not stopped an avalanche of technological innovation, and demand for property has benefited on a global scale.
- Thirdly, our fast growing cities are center stage in the digital and creative revolutions, and in most of the Global Cities supply is not keeping pace with demand for both commercial and residential real estate.
This report examines how these trends are shaping the Global Cities.
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