ShareAll real estate may be local, but that doesn’t necessarily shield one market from major incidents occurring thousands of miles away. In today’s global economy, important geo-political events have consequences that can easily ripple across the planet. Election results, economic policies and international relations all have spillover effects on global real estate by (directly or indirectly) creating incentives for buyers to be drawn toward—or repelled from—various geographic markets.
Some factors are purely financial in nature, like changes in currency values or tax treatments. Other policies may make some destinations more or less appealing by easing or restricting immigration or crossborder trade. In worst-case scenarios, geo-political events can escalate into full-fledged military conflicts, displacing entire communities and endangering lives.
This issue of Global Perspectives examines many of the most significant geo-political developments of the past year with an eye towards possible directions in 2017. As a global real estate practitioner, it’s important to stay dialed into these and other stories. Doing so puts you in a much better position to spot opportunities and understand where future business may originate from—and why.