ABSTRACT
This chapter discusses property development in the broader context of internationalisation, created by the increasing interaction between national economies and the globalisation of businesses as a result of access to fast, reliable information due to advances in communications technology. Globalisation is an undeniable, established, irreversible trend as a result of the lowering or removing of political, trade barriers, the advent of fast, safe, cheap air travel, rapid development in new technologies, and a very high level of productivity form emerging economies such as India and China. Critics of the expanding global economy argue that the reduction of trade barriers will create higher levels of competition for previously protected companies in developing countries, while its advocates point to the new possibilities in global markets for emerging market companies such as Haier and the Tata Group. The increasing internationalisation of property markets has increased the level of demand for property, although arguably it has at times exposed property investors to more risk.
