Housing South Korea is set to significantly increase public housing investment in 2027, with the Ministry of Land, Infrastructure and Transport (MOLIT) proposing a KRW 30 trillion ($21.8 billion) budget for public housing supply, aimed at addressing growing concerns over housing shortages, particularly in the greater Seoul area. The allocation represents a 41.5% increase from this year’s main budget. Under the proposal, the government plans to supply 218,000 public housing un

Delhi Master Plan 2047 Targets 40 Lakh New Homes and Expanded Metro Network New Delhi: The Master Plan for Delhi (MPD) 2047 has been unveiled, with plans to construct around 30–40 lakh homes and expand the metro rail network to 695 km by 2047. Union Housing and Urban Affairs Minister Manohar Lal said Delhi’s population is projected to reach 3.20 crore, increasing pressure on urban infrastructure. The plan also includes six new Regional Rapid Transit System corridors and furth

Shanghai Eases Property Measures to Support Housing Demand China: Shanghai will ease several property-related measures from Friday, including mortgage, housing provident funds and purchase subsidy policies, as authorities seek to support housing demand. For second homes purchased outside the city’s outer ring expressway, the minimum down payment for commercial mortgages will be reduced to 15%, from 20% previously. The measures form part of a broader adjustment to housing poli

South Korea Expands Housing Supply Plan to Address Price Pressures South Korea: The government has announced plans to supply more than 230,000 additional homes in the Seoul Metropolitan Area as part of measures to address high housing prices. The initiative includes accelerating development on public land, utilising underused sites and supporting private sector projects. Around 100,000 homes will be developed through newly designated public housing districts, including projec

Kazakhstan Plans Social Infrastructure Focus Despite Budget Constraints Kazakhstan: Kazakhstan has outlined construction priorities for the 2027–2029 period, focusing on hospitals, rehabilitation centres and sports facilities, as part of its budget planning. President Kassym-Jomart Tokayev reviewed economic forecasts and instructed officials to maintain fiscal balance while meeting growth targets. The plan builds on ongoing national projects, including rural healthcare develo

India Housing Market Shows Mixed Trends Across Major Cities in Q2 2026 India: India’s residential real estate market recorded stable activity in the second quarter of 2026, with 79,361 units launched compared with 78,935 units in the same period last year, reflecting a 0.5% increase, according to NoBroker. Housing demand across six major metropolitan markets rose by 3% year-on-year, although performance varied significantly across cities. Pune reported a 70% increase in launc

House renovation USA: The NAHB State Projections of Remodeling (SPR) indicates continued momentum in U.S. remodeling activity, with California, Texas and Florida emerging as the largest state markets by remodeling expenditure, followed by New York and North Carolina. Meanwhile, Michigan recorded the strongest increase in remodeling spending, with notable gains also reported in Virginia, North Carolina, Alabama and Washington. The trend highlights sustained remodeling activity

Philippines Pushes New Building Code to Strengthen Construction Standards PHILIPPINES: The Philippines is moving toward modernizing its building regulations to address evolving construction practices, climate risks and natural disasters. Senator Bong Go has renewed calls for a proposed New Building Code, noting that the existing framework, last amended in 1977, no longer fully reflects current engineering and technological developments. The proposed code would regulate buildi

China Hotel Pipeline Reaches 3,588 Projects as Conversions Surge CHINA: China’s hotel construction pipeline reached 3,588 projects comprising 632,256 rooms in Q2 2026, according to Lodging Econometrics. Projects under construction accounted for 2,547 hotels and 442,737 rooms, while 343 projects were scheduled to begin construction within 12 months. Construction starts increased 7% year on year to 205 projects. Upper-midscale and upscale hotels remained in the largest segments

US Housing Market Shows Seasonal Slowdown in July US: The US housing market continued its expected seasonal slowdown in July 2026, with sellers making more price reductions while buyer activity remained positive. The national median listing price stood at USD 428,950 in July, unchanged from June but 2.4% lower than a year earlier, marking the ninth consecutive month of annual price declines. The proportion of listings with reduced prices increased to 20%, while pending home s

Canada and Toronto Announce Investment for Rental Housing Projects Canada: The Government of Canada and the City of Toronto have announced a partnership to support the construction of more than 5,600 rental homes across over 18 housing projects during the next three years. Under the initiative, the federal government will invest more than CAD 2.7 billion (approximately USD 1.97 billion), with construction on more than 4,500 homes expected to begin before the end of 2026. The

Housing Australia Future Fund Progress Remains Below Target Australia: Official figures show that Australia's Housing Australia Future Fund (HAFF) had delivered 1,432 social and affordable homes by April, more than two years after its launch. The AUD 10 billion programme aims to deliver 40,000 homes by 2029. According to Housing Australia, a further 5,189 homes are in planning, 4,927 are in pre-development and 6,851 are under development. However, only 82 of the 173 projects

Australia Housing Market Slows Amid Higher Borrowing Costs Australia: Australia's housing market has recorded its sharpest slowdown since the pandemic as higher borrowing costs and changes to tax incentives have weakened market activity. House prices in Sydney and Melbourne have fallen by nearly 5% since the beginning of the year, accompanied by lower auction clearance rates, reduced loan enquiries and declining property sales. The slowdown is expected to affect related indus

New Zealand Updates Infrastructure Funding Framework for Housing Development New Zealand: New Zealand has passed the Infrastructure Funding and Financing Amendment Bill, introducing changes intended to expand funding options for infrastructure supporting residential development. The legislation allows councils, developers and infrastructure providers to use a wider range of financing mechanisms without increasing council borrowing. Under the framework, private investors can f

India's New PVC Import Rule Could Raise Costs for Construction and Building Products India: India has introduced a minimum import price (MIP) on Suspension Grade Polyvinyl Chloride (S-PVC) resin, a material widely used in construction products such as pipes, plumbing fittings and electrical conduits. Under a notification issued by the Directorate General of Foreign Trade (DGFT), imports with a Cost, Insurance and Freight (CIF) value of USD 0.766 per kg or below will require a

Saint-Gobain Expands Asia-Pacific Presence Through Two Acquisitions Vietnam and Japan: Saint-Gobain has announced two acquisitions in the Asia-Pacific region as part of its strategy to expand its presence in construction materials. In Vietnam, the company has completed the acquisition of Phu My Innovative Materials (PMIM), a plasterboard manufacturer that generated approximately EUR 20 million (USD 23.5 million) in revenue during 2025. The acquisition strengthens Saint-Gobain

Construction THAILAND: Thailand-based industrial conglomerate SCG reported strong financial results for the first half of 2026, driven by the success of its regional restructuring strategy. The company recorded a 35% increase in adjusted cash EBITDA to THB 42.9 billion (USD 1.28 billion), while total sales revenue reached THB 259.6 billion (USD 7.75 billion). Profit for the period stood at THB 17.8 billion (USD 0.53 billion), with net profit, excluding special non-cash items,

Building Saudi Arabia's Ministry of Municipalities and Housing issued more than 34,000 building permits across the Kingdom during the first half of 2026, reflecting continued construction activity and improvements in the country's permitting process. Residential projects accounted for the majority of approvals, with more than 28,000 permits issued between January and June. The ministry also granted over 5,000 commercial building permits and more than 1,000 permits for governm

Building ITALY: Italy will enforce stricter renewable energy integration requirements for major building projects from 3 August 2026, following the implementation of the Legislative Decree transposing the EU's Renewable Energy Directive (RED III). The revised rules apply to building permit applications submitted 180 days after the decree entered into force on 4 February 2026. Under the new framework, projects that fail to meet the renewable energy integration requirements wil

Home Improvement Spending Growth Expected to Ease Through 2027 USA: The latest Leading Indicator of Remodelling Activity (LIRA) from Harvard University’s Joint Center for Housing Studies forecasts a continued slowdown in US home improvement and repair spending through mid-2027. Annual growth is expected to ease to 0.5% by the second quarter of 2027, with total expenditure reaching approximately US$ 519 billion. The outlook reflects weaker remodelling permits, slower retail sa