Business Services Industry
PWC report looks at new economy
Real Estate Weekly, Sept 27, 2000
The "New Economy" is creating new markets and opportunities ripe for innovative products, services, and technologies causing, a sea change in global real estate markets, according to a report released by PricewaterhouseCoopers.
In a cover story in the Summer 2000 edition of Global Real Estate Now (GREN), the firm looks at how structural changes in the new economy are leading to changes in global real estate capital flows -- what the author Steven Laposa, director of global strategic real estate research at Pricewaterhouse-Coopers, calls "The Revolution in Evolution."
"The new economy is not simply dot-coms, high technology firms, or the information age," said Laposa. "It is dynamic, revolutionary, and it constitutes the internationally integrated economic and financial system we live under in the new century."
This revolution centers on two emerging trends according to Laposa: the evolution of real estate markets (the "space" market); and global real estate capital flows (the "capital" market). Influencing both of these trends is the growing interaction and contribution of domestic and foreign firms.
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