CoStar, a leading provider of online real estate marketplaces, real estate information and analytics, released its June 2024 report, with % change compared to June 2023.
Europe
Under construction: 165,858 rooms (-2.4%)
Final planning: 93,241 rooms (-20.9%)
Planning: 160,651 rooms (+8.0%)
Total under contract: 419,750 rooms (-3.8%)
Among countries in the region, Germany (27,302) led construction activity, closely followed by the United Kingdom (25,312).
Asia Pacific
Under construction: 503,770 rooms (+4.4%)
Final planning: 91,282 rooms (-22.9%)
Planning: 323,931 rooms (+16.5%)
Total under contract: 918,983 rooms (+4.5%)
China leads the Asia Pacific region in terms of total rooms under construction (319,012), followed by Vietnam (36,521).
Middle East & Africa
Under construction: 109,005 rooms (-5.6%)
Final planning: 33,040 rooms (-23.8%)
Planning: 83,020 rooms (+9.2%)
Total under contract: 225,065 rooms (-4.2%)
The majority of the region’s pipeline activity is concentrated in the Middle East, with Saudi Arabia (42,786) and the United Arab Emirates (18,933) having the most rooms under construction.
Americas
Under construction: 208,718 rooms (+8.3%)
Final planning: 299,153 rooms (+6.9%)
Planning: 385,945 rooms (+34.6%)
Total under contract: 893,816 rooms (+17.8%)
The United States (157,713) has the most rooms under construction in the region. After the United States, Mexico (13,301), Canada (8,686) and Brazil (5,948) have the highest number of rooms under construction.
Fuente: CoStarGroup.