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Population Growth, Technology to Move the Real Estate Needle

CHICAGO-Despite the current slowdown in the global economy, the population growth expected in the next 40 years must boost CRE demand, said panelists at today’s PREA conference here.

By Robert Carr | Updated on October 19, 2011

CHICAGO-Except for Europe, the world will experience strong growth during the next 40 years, significantly increasing the demand for commercial real estate, according to panelists this morning at Pension Real Estate Association’s 21st Annual Plan Sponsor Real Estate Conference at the Fairmont Hotel here Wednesday. In the short term, however, technology is the driver behind changes in the industry, the panelists said.

Leanne Lachman, president of research firm Lachman Associates Inc., said that the world population growth will get to about 9.2 billion people by 2050, with much of the growth coming from Asia and the Middle East/Africa. Only Europe is expected to see a net drop in population by then, with about 738 million people now and 719 million residents projected by 2050.

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