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As reported in the semi-annual survey by the Japan Real Estate Institute (JREI) and BAC Urban Projects, rental growth in Tokyo’s prime retail submarkets on the whole was impressive during 2H/2019. Average 1F rents increased by 4.9% half-year-on-half-year (HoH) and 14.9% year-on-year (YoY). As for Non-1F rents, growth in this sector has yet again exceeded its typically more volatile 1F peer, rising 8.8% HoH and 15.9% YoY. As such, for the first time, non-1F rents in all submarkets sit above JPY30,000 per tsubo per month. At the submarket level, 1F rents in Ginza remain streets ahead of rivalling districts, whilst the spread between average non-1F rents remains tight.

新冠疫情持续打压写字楼租金，中环和金钟的租金同比分别下降18.61万亿令吉和22.21万亿令吉，连续第11个月下跌。由于当前租金大幅下调，注重成本的租户开始在低迷的市场中寻求更优惠的交易，从而带动了租赁活动的增加，高于上月水平。然而，在港岛东，由于写字楼空置率保持在较低水平（鲗鱼涌：0.51万亿令吉，北角：5.11万亿令吉），该地区的租金保持稳定。.
 

持续的新冠疫情无疑是影响亚太房地产市场第一季度的主要因素。疫情对整个地区的市场情绪造成了一定程度的冲击，但各国政府强有力的刺激计划和政策正在缓解疫情的影响，并且该地区许多行业都涌现出新的机遇。在香港，经历了长期的政治和经济不确定性之后，疫情进一步加剧了市场的下行压力，导致主要参与者持观望态度。同样，在新加坡，不确定性也开始限制住宅和商业地产市场的活跃度。流入印度房地产市场的私募股权资金已大幅减少，而对缅甸等充满活力的新兴市场的投资也已被搁置。.

From the fall of 2016, moderate expansion of Japan’s economy has continued. However, in 2018, the economy shifted to a stagnant trend and subsequently to continuous moderate slowdown since 2019 with a recession all but certain by the end of the year. Signs indicating a turnaround in the for-sale/transaction market for real estate in Japan, for example the decline in the contract rate of for-sale real estate and the bottoming out of transaction yields, have become conspicuous. It appears that the market has already peaked. The conditions of Japan’s real estate rental market continue to improve. However, a turnaround has become apparent in terms of hotels and retail facilities, suggesting that the market will turn toward recession with some time lag.

The region’s key long-term investment attributes remain in-place:

– Economic Growth & Business Expansion

– Infrastructure Investment

– Increasing Connectivity

– Virtuous Cycle Between Income and Consumption

新型コロナウイルス (COVID-19) が世界中で広がり続けている中、消费者による、生产、流通消费量な影响を受けており、消费财及び小売 (CG&R)行业で事业を行う企业の课题は増加している。ラグジュアari及びfu ァッション、食品及び饮料、化妆品、耐久消费财及び电子机器からホテル、rizoto、観光まで、あらゆる业界のサブセクターに属する企业は、多くの重大な経営上及び法律上の问题に直面している。本チェkkurisuto は、CG&R企业が急速に変化する状况を切り抜けるための一助となることを目的とした、新兴risukuと可能な解决策のチェkkrisutoである。 

紧急事态宣言の発令以降、大都市圏の多くの企业が急速なテルワークへの切替えや事业体制の见直しに追われる一方面、3月决算企业では决算·监查対応を中心に多くの课题が生じるなど、事业への影响は日々拡大しています。多くの海外地域においては引き続き厳格な境外限制や営业禁止等のロックダウン措置が継続している单独一份、地域においては行动制限の軽减・解除に向けた议论が始まるなど出口戦略の模索も始まりつつあります。