Asia Pacific Commercial Real Estate Four Months into COVID-19: The Negatives, The Positives and The Unknowns
With COVID-19 now a major global pandemic, this Special Report by CBRE provides an up-to-date assessment of how Asia Pacific commercial real estate markets have responded so far; evaluates which markets and sectors have performed better – or worse – than expected; and identifies the challenges and opportunities that lie ahead.
The negatives are led by an impending recession triggered by the imposition of lockdown measures and other restrictions; a sharp decline in occupier and investor demand; and an overriding focus on rent abatement and other concessions
The positives comprise the gradual easing of restrictions and resumption of economic activity in most regional markets; the rollout of massive monetary and fiscal stimulus to alleviate the impact of lockdown measures; and a resilient logistics sector supported by a surge in e-commerce demand.
The unknowns include the pace and path of recovery; the impact of the shift to home-working on future office demand; and the location and organisation of manufacturing supply chains.