News

Residential property demand will recover the fastest.

More banks and corporates are cutting their real estate footprint.

CBRE comments that these rates are within expectations.

This is mainly attributed to the final settlement of the Uttar Pradesh construction project in India.

Only Taipei and Shanghai reported prime office rental growth of 0.9%.

New demand is likely to be tempered until China’s borders are fully reopened. Despite the overall property market being hampered by COVID-19 and Sino- US trade war, the performance of the industrial sector remained relatively resilient, with overall rents witnessing only modest declines. Colliers reveals that warehouses fell -5.6% YOY with factories falling -3.3% YOY in 2020. Tenants had a greater tendency to relocate for lower rents, while landlords were more flexible in offering incentives and longer rent-free periods to maintain occupancy. In 2021, Colliers expects to see the total export performance to recover from 2020’s low base, supported by the recovery of exports to China. In fact, total export growth returned in Q3 and Q4 2020, after experiencing six consecutive quarters of negative growth. Meanwhile, in December 2020 the Tuen Mun – Chap Lap Kok link opened, greatly enhancing logistics connectivity in the northwest New Territories. “We expect to see the Tuen Mun area capture new interests from both occupiers and investors. Overall, in 2021 we forecast warehouse rents to decline by 2.5% and prices by 3.0% YOY, as new demand may still be relatively limited until the border with China is fully reopened.”

The property firm's revenue fell by 38.5% for FY 2020.

Retail rents in Singapore declined 2.5% on average in H2 2020.

This accounts for $12.1b worth of deals in 2020.

But the outlook for the hotel industry in Singapore in the immediate term remains cloudy.

Melbourne's hotel occupancies declined to a historic low of just 20.4% in September 2020.

High street retail rents declined by as much as 27.9% in 2020.

Around 6% of deals were put off in 2020.

The first significant office project is a 60,000sqm commercial tower above Victoria Cross station.

It has affected how the region attracts foreign logistics players.

Annual net absorption was −1,769,900 sq feet in 2020.