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01 / Introduction

Cities will always be endowed with their own distinct characteristics. Yet increasingly they are beset by common challenges, as globalisation and the movement of money across borders support new phases of real estate development, against a backdrop of population growth and urbanisation.

Residential markets face particular challenges as foreign investment in luxury apartment towers and trophy assets raises concerns about affordability and social cohesion.

On opposite sides of the Earth, London and Melbourne provide an interesting example of shared predicaments but also of different, localised responses in their attempts to create efficient and attractive environments for future generations to live, work and play.

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