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With 2019 being an average year in terms of new office supply, amid the intense competition for space, Grade A office vacancy in the C5W was close to nil. Meanwhile, underpinned by solid corporate profit growth – particularly in the technology sector – rents continued their upswing. Specifically, by year end, average Grade A rents in the C5W had reached JPY37,373 per tsubo per month – an increase of 8.0% year-on-year (YoY). Indeed, fundamentals appeared solid heading into the new decade, only for the COVID-19 outbreak to scupper the sector’s previously optimistic prospects.

  • 5月份,亚太地区房地产投资信托基金(REITs)表现优于大盘,这主要得益于新冠肺炎新增病例数的下降以及亚太地区经济的分阶段重启。该地区持续出台一系列财政政策应对措施,包括向受社交隔离政策和旅行限制影响最严重的行业以及中小企业提供进一步补贴。.
  • 按行业划分,工业板块表现依然最为强劲,5月份实现了两位数的涨幅。按国家划分,澳大利亚房地产股票表现优异,这主要得益于住宅和工业板块的强劲回报。. 
  • 5月份,日本房地产投资信托基金(REITs)领跑亚太地区,主要得益于酒店和零售板块的强劲表现。日本众议院批准了一项紧急预算,其中包括对中小企业的租金补贴,这对办公楼市场来说无疑是利好消息。新加坡房地产投资信托基金也表现出色,工业和零售类房地产投资信托基金的稳健增长提振了整体表现。.

Against the backdrop of a slowing domestic economy, coupled with global economic uncertainties and the protracted China–US trade war, the hotel industry in the Greater China region demonstrated weak performance in 2019. Among all major cities, including Beijing, Shanghai, Shenzhen, and Hong Kong, the Average Daily Rate (ADR) of five-star hotels shrank, and the occupancy rate dropped in Shanghai, Shenzhen and Hong Kong. Macau still managed a slight increase in ADR, but the occupancy rate fell. The weak growth trajectory of the hotel industry was further dragged down by the COVID-19 outbreak and this is expected to continue in the first half of 2020. 

  •  澳大利亚房地产股票和房地产投资信托基金(REITs)领涨该地区,零售业强劲反弹,工业板块保持强劲势头。此外,随着澳大利亚各地进一步放宽新冠疫情限制措施,投资者情绪也有所改善。.
  • 新加坡房地产投资信托基金(S-REITs)表现优异,主要得益于酒店类房地产投资信托基金的反弹以及工业板块的持续韧性。此外,新加坡政府宣布了一系列新措施,旨在赋予新加坡房地产投资信托基金更大的现金流管理和融资灵活性,这也推动了此次上涨行情。.
  • 随着国内经济活动持续逐步回暖,中国离岸房地产投资信托基金(REITs)4月份表现良好。值得注意的是,中国于4月30日启动了基础设施领域REITs试点计划,重点关注仓储物流、收费公路等交通设施,以及新型基础设施、国家战略性新兴产业集群、高新技术产业园区等主题产业园区。.
  •  澳大利亚基金房地产股票和房地产投资信托领涨整个亚太地区,重点是澳大利亚零售业在4月份近3月份表现反弹并取得高收益率,以及澳大利亚工业部门继续保持强劲增长。此外,随着整个澳大利亚对新冠肺炎病毒疫情的限制进一步解除,投资者的情绪有所好转。
  •  新加坡房地产投资信托基金的表现也追随其他国家,得益于新加坡酒店房地产投资信托基金的反弹表现以及其工业领域的持续良性表现。此外,新加坡政府宣布的一系列新措施,为新加坡房地产投资信托基金提供了更大的灵活性来管理其信托资金,为股市带来积极效应。
  • 随着中国国内活动继续逐步回暖,中国境外房地产投资信托基金在4月也表现良好。值得注意的是,中国于4月30日启动了针对基础设施领域房地产投资信托基金的专题计划,重点针对物流、收费公路等交通设施,以及新的基础设施,国家战略性新兴产业集群、高科技工业园区等主题工业园区。

Commercial property prices pushed higher in the majority of leading global metros in the first quarter of 2020, the latest RCA CPPI Global Cities report shows, with the Covid-19 crisis not yet hitting sale prices. The headline rate of global price growth eased to 2.3% from a year ago and dipped 0.2% from the prior quarter, but most of the weakness came from declines already underway in Asia Pacific.

As the world struggles to contain the COVID-19 outbreak, global travel has practically ground to a halt, impacting retail and travel related industries. Estimates by the United Nations point to the global economy slowing to under 2 per cent in 2020, costing some USD 1 trillion. There has not been any precedent with an equivalent scale of economic disruption in recent times to guide policymakers across the globe. The typical responses to this outbreak across the world thus far involve containment, social distancing, and economic support through fiscal and monetary measures to help cushion the financial fallout. The World Bank, for example, has set aside a USD 14 billion package to help companies and countries in their efforts to fight the spread of COVID-19.

In the past decade, the rise and fall of mainland Chinese investment in global real estate markets has created quite a stir amongst the international real estate community. However, in recent years overseas real estate investment activities of this group of investors has shifted from overseas acquisitions to disposals, with 2019’s total overseas investment volume down 79% since the peak in 2017. 

近十年来,中国内地境外地产投资的起伏,在国际房地产界掀起了不小的波澜。最近两年,境外房地产主流投资活动已 从收购转向处置。2019年,中国内地境外地产总投资额较2017年峰值下降79%。
 

The volume of completed commercial real estate transactions shows activity slowing across all regions, the latest Real Capital Analytics data reading indicates. Looking at the count of closed deals the picture is even gloomier, as the Covid-19 crisis takes its toll on commercial property markets worldwide. Based on the dollar volume of transactions, activity in the Americas has dropped 7% in the first 125 days of the year versus the same period in 2019, and in Europe, Middle East, Africa (EMEA) volume has fallen 14% from a year ago. A string of large M&A-type deals and portfolio transactions in the U.S. and Europe had put a gloss on headline activity figures in those markets in the first quarter.