A lack of affordable housing provision, prices rising faster than income and not enough focus on the feasibility of local projects, have taken their toll in Brazil, India and China, says new RICS research
There is a pending worldwide crisis due to the shortage of affordable homes around the world, warns the RICS.
The worst shortages are in developing nations, where housing provisions has failed to keep pace with economic development and in wealthier nations where housing costs have risen faster than incomes, says the Royal Institution of Chartered Surveyors in a report unveiled today.
Findings of the research, Global Affordable Housing: BRICs PLUS Mortar, centres on the housing markets in Brazil, India and China suggest there has been too great a focus on national broad housing policy ‘visions’ rather than the feasibility of local housing policies.
The research, presented , by RICS President Michael Newey at the RICS International Summit, held in São Paulo, investigates how housing needs and supply in Brazil, India and China have been affected by economic growth and compares the government housing policies.
Report author, Professor Duncan Maclennan, says, “International bodies and lobby groups talk of the looming challenges of population ageing, the environment, worklessness, immigrations and the like. …read more