Coronavirus Latest News

No recovery in sight for Asia-Pacific’s commercial property sector as Covid-19 travel restrictions slam deals, retail sales

Property investors are staying on the sidelines in Asia-Pacific, with a strong recovery unlikely to happen anytime soon, analysts said.The Covid-19 pandemic and the resulting economic shock has slammed the region’s commercial real estate market. The total value of transactions plummeted by nearly 40 per cent in the year to September, as the number of deals fell by almost a third, according to Real Capital Analytics.“Everybody is being cautious,” said Desmond Sim, head of research for Singapore…

Read the original article at South China Morning Post

Related Articles