Rising Urbanization Megatrend

In developed economies, cities will face numerous challenges in welcoming this new urban population. Cities will continue to flourish and the housing market will face growing supply and demand imbalances. Aging buildings will cause additional strains, and renovations and maintenance will be increasingly burdensome.

Emerging Economies on the other hand will benefit from a very responsive housing market. Africa and Asia are poised to see the largest growth in urban populations and are currently home to 90% of the world’s rural population- but this is changing fast.

Megacities will grow and will require a significant improvement in water, energy and transportation management in order to satisfy the demands of their residents. Hence, the world will witness the rise of smart cities. Technology and Big Data will be fundamental to participate in the effort to answer our basic needs. Sustainable urbanization will be key in order to find a balance between housings and green areas and parks. Air quality will be one of the core factors to consider while the great builds occur. Architects will rethink the way we build and develop more sustainable designs as well as innovate in the raw materials used to limit the impacts rising urbanization will have on our planet.