Singapore’s real estate market was falling before the SARS outbreak, however office rents rose by 3.5%, retail rents by 3.7% and industrial rents increased by 1.5% by the end of 2004.
Overall, property investment sales recuperated to $3.2 billion within the later half of 2003, a 29% increase y-o-y.
Observing the trends in 2003, head of Research for Singapore at Colliers International, Miss Tricia Song, comments: “With an assumption that the Covid-19 outbreak will run its course by June this year, we predict that certain property sectors, such as office leasing and investment sales, will see a rapid recovery in the later half of 2020.” This is the best time for home buyers and investors to consider LIV @ MB.
But Miss Tricia Song cautions that with the recent spread of the Covid-19 virus beyond East Asia, there is an increased chance of a negative scenario where disruption remains into the later half of 2020.
Colliers Research stands firm on its forecasts for the various property sectors currently. It recommends the many property sectors to quicken their adoption of new technologies, be it to expand offline-to-online strategies for retailers, or to create more efficient inventory and last-mile management processes for industrial players. The LIV @ MB showflat displays this condo has adopted better systems to facilitate security and better living environment within the Smart Homes.
Overall, investors are encouraged to pay more attention to long-term drivers as a quick recovery in H2 is highly feasible.
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