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COVID-19 and Korean Property Markets
"The Coronavirus Pandemic and its Impact on Korea’s Commercial Real Estate."
Tagged Articles
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"The Coronavirus Pandemic and its Impact on Korea’s Commercial Real Estate."
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"Office rents saw continued growth in Q1/2020 and vacancy rates remain extremely tight. That said, this trend will likely end, or at least pause, due to the fallout from COVID-19. Airtight vacancy and advance notice equirements for relocation should, however, serve as a buffer until later this year."
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"Commercial volumes have declined dramatically with activity dominated by bargain-hunting investors looking for distressed assets which remain hard to come by."

"Savills Research has launched its Greater Bay Area Grade A Office Index, hereinafter referred to as the GBA Grade A Office Index. It aims to provide market players, such as investors, developers, landlords and office occupiers, with a reliable benchmark for the GBA office markets on a city-by-city basis."
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"Through 2019, India witnessed a contrasting combination of slowing economy on the one hand, with accelerating reforms momentumon the other. "
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"Rental growth in the office sector this quarter, and over the year, has been impressive, beating initial expectations. Growth should be fl at to moderate going forward, however."
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"The issues confronting Hong Kong over the past five months have caused corporates to begin to consider alternatives. In the office market, questions are being asked as to whether companies in Hong Kong are planning any wholesale or partial relocations to Singapore. Whether this will or will not happen will clearly have a significant impact on the performance of our local office market in 2020. "
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"In the central five wards (C5W), where Grade A supply has been at historically high levels, large-scale Grade B office supply continues to be limited, and the situation is being exacerbated by tenants squeezed out of the somewhat pricey Grade A market."
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"Stock of office space in Greater KL, the single largest office market in ASEAN, stands at approximately 126 million sq ft, with the completion of four new office buildings contributing 1.08 million sq ft in 1H/2019. "
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"The long-awaited tender for the commercial site above the West Kowloon Terminus was announced in late November, with Sun Hung Kai emerging as the winning bidder with a premium of HK$42.232 billion, beating off competition from Cheung Kong and a Henderson-led consortium. "