Pathways to Property:

Starting Your Career in Real Estate

RICS Futures - Our

Changing World
Video transcript

Key trends are reshaping the world in which we live and work.
1950: Urban population 30%.
2015: Urban population 54%.
UN predicts a global population of 9 billion by 2050. Predicted urban population in 2050
is 66%. 6.3 billion.
50% of this urban population growth will be in just 7 countries. (Flags on screen USA,
Nigeria, Democratic Republic of the Congo, Pakistan, India, Indonesia, China.)
By 2030, the global middle class will double in size to 4.9 bn people (OECD).
Predicted growth in construction output. 2015 - 2025 70% increase.
Just 7 nations are likely to account for 72% of that growth. (Flags on screen: USA,
Canada, Mexico, Russia, India, Indonesia, China.
Global capital flows. Global real estate investment reached US $710bn in 2014 (JLL)
Our sector advises on assets worth 70% of the world’s wealth.
Inequality is on the rise.
The world’s richest 80 people, have the wealth of the world’s poorest 3.5bn (Oxfam).
Instability is on the rise.
We are short of resources. By 2030 the world will need at least: 50% more food,
45%more power and 30% more water than it did in 2012 (UN High Level Panel on Global
Sustainability).
There is a massive shortfall in infrastructure with $57 trillion needed by 2030 (McKinsey).
The impacts of climate change will require more resilient buildings and cities.
The ‘Big U’- planned flood defences for New York.

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Pathways to Property:
Starting Your Career in Real Estate

To be truly sustainable our world needs trusted and skilled professionals considering
economic, environmental and social outcomes.
How we live, work and play is changing and overlapping.
People are living longer.
Households are getting smaller.
Technology is transforming how we live.
Geographic mobility is increasing.
More co-working.
Activity based workspaces.
Four generations in the workspace.
Rising investment in tech and innovation start ups.
Partnering to win new business.
3 billion people have internet access.
Use of mobile technology is exploding.
2.2 bn mobile users in 2013 – 1.6 bn more by 2020.
For our sector, we can expect more innovation: building information modelling (BIM),
growth in 3D printing applications, smart sensors, internet of things, artificial intelligence.
There is a rapid pace of change.
Companies are growing in size through mergers and acquisition.
We are seeing new disruptive business models.
The global sharing economy market was valued at $26bn in 2013 (icons showing Airbnb,
UBER)
In our sector we are seeing new business models too (logos on screen: homtrack,
CoreLogic, Juwai.com, Lammudi, LIQUIDSPACE.)
A time for action.
The role of professionals across the world is changing. Land and built environment
professions must respond to this change.
We must support the professions of the future in:
1. Developing strong leadership.
2. Embracing technology
3. Having ethics at the heart of everything they do.
So that they can:

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Pathways to Property:
Starting Your Career in Real Estate

4. Win the war for talent.

5. Create successful and sustainable cities
6. Realise opportunities in infrastructure, investment, technology, sustainability and
the workplace.
Help us create a profession fit for the next generation. www.rics.org/futures,
#RICSFutures, futures@rics.org.

©University of Reading 2020 Tuesday 25 February 2020 Page 3