Where the Deals Are: Real Estate in Emerging Markets The unstoppable consumer demand and high returns once guaranteed by "hypergrowth" markets like the fabled BRICs -- Brazil, Russia, India and China -- are no longer a given, according to global real estate developers, investors, finance specialists and executives who spoke at the recent Real Estate in Emerging Markets Forum. Instead, investors need to evaluate each market individually and, given the current economic climate, focus on the long term.