Housing

The global housing market is entering a transformative decade, shaped by urbanization pressures, demographic shifts, and evolving living standards across diverse economies. By 2035, global spending on housing is projected to increase from $14.5 trillion in 2026 to $22.8 trillion, reflecting both the fundamental necessity of shelter and the growing disparities in housing accessibility worldwide.

Key Trends Shaping the Category

✓  A truly Global category: Spending on housing is set to rise by $8.3 trillion over the next decade, driven by population growth, continued urbanization, and rising construction and land costs in major metropolitan areas.

✓  Strong Near-Term Momentum: The housing category is projected to grow 5.93% in 2026, outpacing many other consumer spending categories as household formation accelerates and housing supply struggles to keep pace with demand in key markets.

✓  Stark Inequality Across Markets:  Housing affordability varies dramatically by geography, with profound implications for household budgets. In Brazil and China, housing is brutally regressive: the median Brazilian spends 36% of their budget on housing, compared to just 22% for the average, while the median Chinese person spends 34%, compared to 23% for the average. Contrast this with Spain and Japan, where housing hits everyone more equally: in Spain, it's 26% for the median versus 23% for the average, and in Japan, it's 29% versus 26%. These disparities highlight the uneven burden of housing costs and the urgent need for policy interventions in the most affected markets.