Singapore’s Minister calls on property owners to share the economic impact of the epidemic
The real estate community outbreak inflows from mainland China, Hong Kong and Singapore – bearing the brunt of Jones Lang LaSalle
Reuters on April 20 – Hong Kong International real estate services provider in the latest release of Jones Lang LaSalle research indicates that, due to novel coronavirus outbreak spread to hinder capital inflows into a variety of industries and asset classes, in the first quarter of this year’s Asia Pacific Commercial real estate investment volume, sharp contraction of 34 per cent, year-on-year decline in mainland China, Hong Kong and Singapore’s most affected.
According to the report, mainland China, Hong Kong and Singapore in the first quarter of commercial real estate investment activities by as much as Liu Cheng; But South Korea and Japan were affected, a real estate investment activity during the quarter with the same period last year, or if it is only a slight decline.
Recent development such as Riviere by Fraser Property remains one of the highly sought after development located in one of the favourable estate in Singapore. The project has a good view of the riverfront with a good potential tenants coming in for retails, commercial and restaurants.
Many investors due to the uncertain economic environment and suspended trading activities. We anticipate that this will continue until the second quarter of the second half, but trading volume is likely to rebound strongly. A lot of capital in plenty of investors are waiting for the moment, we think the market will offset most of the plate to create robust deal flow, “Jones Lang LaSalle Asia Pacific Capital Markets chief executive Stuart Crow said.
Reports that all major commercial real estate sector in the first quarter will be the impact of the epidemic, but has been uneven. The retail property investment recorded a trading volume of the most significant contraction of 39 per cent year-on-year decline in bird flu outbreak in several major markets closed the city pursued and social distance, among other measures.
Office markets in mainland China, Japan and South Korea recorded a massive office asset sales overseas and domestic investors, the types of assets, but demand remains high overall volumes are down by 35 per cent year on year, the hotel property transactions year-on-year decrease of 22 per cent, relatively modest decline in part because some in Japan and South Korea in early trading in the first quarter has been implemented.