Real estate has rewarded investors with strong returns in a world of falling interest rates and established business models. The positive outlook for the global economy is an encouraging sign that the rewards will continue for some time to come.

Yet there is an undercurrent of caution in the three regional Emerging Trends in Real Estate^® reports, and more so from the 24 senior professionals interviewed for this Global Emerging Trends edition. These industry leaders all acknowledge that this is a late-cycle property market influenced by a gradual reversal of monetary policy. There remains a disconnect between the sheer volume of capital raised and the opportunities in the market to deploy it effectively in assets that can withstand a downturn.

As a consequence, risk management has become increasingly important, while at the same time changing human behaviour and new technology are transforming the nature of real estate, not just as an investment class but as a product or service we all use as consumers. These are the conclusions of PwC/Urban Land Institute’s recent Emerging Trends in Real Estate 2018 surveys, conducted across Asia Pacific, Europe and the Americas.

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