Global Development Report 2020
How Covid-19 is accelerating design trends and impacting housing delivery
The Initial impact of The Pandemic on Global Residential Development
Responses from 160 global developers reveal the pandemic’s impact on near-term housing supply and long-term design trends.
Almost six in ten global developers have delayed projects in response to the spread of Covid-19, as the virus wreaked havoc on supply chains and prompted a wholesale rethink of how and where people want to live.
That’s one of the findings of our survey of 160 developers across 22 locations – the first of its kind since the World Health Organization declared the outbreak a pandemic. While it is still too early to confirm the lasting impact of the pandemic on the development landscape, it is clear that it has accelerated pre-existing trends and prompted new ideas for current and future developments.
The overwhelming majority of respondents to our survey are active in global gateway cities, many of which already faced supply constraints and stretched affordability that could be compounded by a near-term drop in delivery.
A pause for reflection amid a crisis is to be expected, but the scale of the current hiatus is surprising and could prompt policymakers to consider incentives to spur development. Of those with delayed projects, more than four in ten are now making changes to designs that were once considered complete.