International construction market survey 2016

Thinking differently:
seizing opportunities
in a new world
Whether operating within an overstretched or over-reliant market, there is one key
commonality – the need to think differently. Fresh perspectives and strategies must be
at the heart of forward-planning for organisations seeking success in the newly divided
global real estate sector.
One of the key findings of this year’s international
construction market survey is that two distinct types
of markets have emerged. These can be defined as
‘overstretched’ – experiencing capacity constraints and
labour shortages, such as London and New York City, and
‘over-reliant’ – who have suffered weak GDP growth due
to oversupply of commodities and weakening demand
from China, such as Australia and Brazil.
Against this backdrop, the construction industry has been
slow to modify practices and adopt technologies to
improve efficiency and productivity.
So how can owners and managers of real estate projects
change their perspective and take practical steps to make
sure they’re not an obstacle to their own success?
For both market types, organisations need to start
thinking differently if they’re to deal effectively with
the challenges of skills shortages and rising costs of
construction, or use the time wisely during the downturn
for when demand returns.
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Turner & Townsend