Up to 12 million people are “urbanising” every year in India, a rate surpassed only by China. It means the country will need a sustained building spree that would see more than 75 million people employed in construction by 2022.
As it races to build 110 million extra homes needed, plus necessary transport infrastructure, by 2025 the size of India’s construction market would reach $1 trillion, the third largest in the world, according to KPMG. — globalconstructionreview.com
Related on Archinect:Poverty, corruption and crime: how India's 'gully rap' tells story of real lifeIndia on the brink: what's in store for the country's architectural futureWorld's first Slum Museum is coming to MumbaiNew Delhi mandates odd-even car rationing to fight world's worst air pollution
After a boom in construction and investment in real estate projects in recent years, work is drying up amid a slowdown in the world’s second largest economy. Property developers are cutting back on new projects, and with construction starts down 16% in the first half this year from a year ago, many firms are cutting salaries or letting staff go. [...]
“We are adjusting to a slower pace of urbanization in China with a recovery of the American and Middle East markets” — blogs.wsj.com
More from the architecture market in China:How the "Chinese Steve Jobs" is trying to build the ideal cityConstruction stalled on 'world's tallest building', so locals made its foundation into a fish farmA landscape architect just joined China's roster of billionairesChinese prefab company builds a...
The Urban Land Institute (ULI) recently published a report titled "The Macro View of Micro Units", which shares the latest findings in the revived trend of micro dwellings in the United States. The report arose from a ULI Foundation research grant that the Multifamily Housing Councils received in...
The Opengap M.ART 2013 Ideas Competition had participants mix traditional elements of the commercial arts-and-crafts market with a contemporary twist. Proposals also had to emphasize the value of handcrafted work and the craftsman-client relationship.
The competition jury met in Guadalajara, Mexico on Jan. 23, 2014 to evaluate all the entries until eventually selecting the top three winners and two special mentions. — bustler.net
First place winners: Zuhal Kol (Turkey); Carlos Zarco Sanz (Spain)Second place winners: Victor Bouman Casas, Pol Mercadé Armengol (Spain)Third place winners: Inés Antón Losada, Marta Antón de Zafra (Spain)Get more details on Bustler.
It’s a cellar’s market.
New Yorkers are spending more than the price of the average American home — on storage units.
Tribeca’s 56 Leonard just sold a 200-square-foot unit for $300,000. That’s $1,500 a square foot for a metal cage in the basement of the future luxury skyscraper. — nypost.com
Over at The Atlantic Cities, editor Emily Badger tried to put things in perspective and created this helpful little chart of median home prices in a few U.S. metropolitan areas (find a screenshot of the interactive chart below).More on 56 Leonard Street in the Archinect News:Work to Begin on...
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