ABSTRACT
This chapter provides the basis of the present volume and defines the economic and real estate market framework that will be used to explain the particularities of South America. It presents the comparative statistics in relation to demographics, population growth and migration for each country, placing them in context with two advanced economies: UK and the US. The chapter describes the economic drivers of the region including: GDP, unemployment data, and urban growth. It brings crucial market data such as interest rates, inflation, wages, consumer spending as well as general supply and demand statistics. The chapter looks at the planning system and legal framework. It evaluates and divides the countries according to the importance of their real estate markets in a global context and according to their possibilities. In South America as in the rest of the world, the state of the economy and key market fundamentals has a significant impact on real estate.
