APREA 標誌

思想領導

Real estate companies have ramped up their investment in technology in response to the COVID-19 pandemic, finds a survey of some of the biggest property players in Asia.

The survey by independent news source Mingtiandi, in collaboration with technology company Yardi Systems, finds 70 percent of real estate companies are scaling up their investment in property technology, or proptech.

Please click below to download the full report.

新冠疫情席捲全球,隨之而來的封鎖措施讓「居家辦公」(WFH)這個概念從邊緣走向主流。這在全球範圍內敲響了警鐘,從沃倫·巴菲特等精明的投資者到分析師和其他市場觀察人士,都認為中央商務區(CBD)辦公大樓市場的時代已經結束。那些認為居家辦公將大幅降低辦公空間需求的人有其合理之處,但他們對需求的擔憂並未充分考慮以下幾點:

新冠疫情席捲全球,隨之而來的封鎖措施讓「居家辦公」(WFH)這個概念從邊緣走向主流。這在全球範圍內敲響了警鐘,從沃倫·巴菲特等精明的投資者到分析師和其他市場觀察人士,都認為中央商務區(CBD)辦公大樓市場的時代已經結束。那些認為居家辦公將大幅降低辦公空間需求的人有其合理之處,但他們對需求的擔憂並未充分考慮以下幾點:

  1. 辦公室租賃條款的特殊性
  2. 時域
  3. 新需求

如果不考慮這些因素,任何市場分析都可能有偏差。今天,我們將分析新加坡中央商務區甲級辦公室市場,探討在將這三個因素與主流的居家辦公觀點(即需求將大幅下降)相結合後,該市場未來可能發生的變化。我們將從一系列可能的變化中,根據我們先前的機率預測哪些變化在未來更有可能發生。這種方法與僅經過一輪推理就得出單一結論的做法截然不同。.

  • 新冠疫情及其導致的封鎖措施帶來的經濟影響,對未來的工作和辦公物業的租金收入造成了極大的不確定性。.
  • 英國季度房地產指數中近 60% 的辦公大樓租金收入來自未來五年內到期或包含終止條款的租約。.
  • 租賃事件的審查顯示,2019 年有 47% 的辦公室在終止條款生效後空置了一個季度或更長時間,另有 72% 的辦公室在租賃到期後空置。 1 在 COVID-19 疫情期間,這些數字可能會上升,導致更多租金面臨風險。.
  • Lockdowns and social distancing have impacted many tenant businesses, resulting in an unprecedented number of requests for rental relief, stressing real estate rental-income streams.
  • For equity investors, income returns have weakened, despite softening asset values. Recent income returns may understate the full potential impact as accrual of deferred rents may mask further shortfalls.
  • Lower rental incomes may also stress debt covenants and increase servicing pressures on some loans. In loans that default and are foreclosed upon, falling asset values may also increase potential loss severity.

What’s the effect on investors when commercial tenants can’t pay their rent? For answers, we caught up with Bryan Reid, executive director on MSCI’s real estate solutions research team.

As record-breaking investment flows into real estate, fund managers face increasing complexity and growing investor demands for real time reporting. We talk to Yardi’s Bernie Devine about the trends.

As governments around the world start to ease restrictions on lockdowns, attention inevitably turns to the concept of “returning to work.” However, this viewpoint incorrectly frames the current state of play. Many office-based workers have continued to work through the pandemic and so the focus should actually be on who should go “back to the office?” Of course, the first focus has to be on employee wellbeing and vulnerable employees need to remain safe.  But after that, the situation becomes more blurred,

As governments around the world start to ease restrictions on lockdowns, attention inevitably turns to the concept of “returning to work.” However, this viewpoint incorrectly frames the current state of play. Many office-based workers have continued to work through the pandemic and so the focus should actually be on who should go “back to the office?” Of course, the first focus has to be on employee wellbeing and vulnerable employees need to remain safe.  But after that, the situation becomes more blurred, not least as social distancing will mean that not all employees can still be accommodated in the available space.  In conjunction with this, companies recognize that some workers can successfully operate remotely at least part of the time. As a result, companies will have to provide more choices and greater flexibility to work away from the office for the foreseeable future.
 

View more from 這裡 and Click on Download to view the full report.

我們很高興分享我們的成員 MSCI 的模型:MSCI 房地產氣候風險價值 (Climate VaR) 模型,該模型展示了不同資產和投資組合的物理風險的性質和程度可能存在差異;並強調了考慮這些因素的重要性。.

隨著全球努力遏制新冠肺炎疫情的蔓延,全球旅行幾乎陷入停滯,零售和旅遊相關行業遭受重創。聯合國估計,2020年全球經濟成長將放緩至2%以下,損失高達1兆美元。近年來,全球決策者從未面臨過如此規模的經濟衝擊。迄今為止,世界各地應對此次疫情的典型措施包括遏制疫情蔓延、保持社交距離以及透過財政和貨幣政策提供經濟支持,以緩解疫情帶來的經濟衝擊。例如,世界銀行已撥出140億美元,用於協助企業和各國對抗新冠肺炎疫情。.

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.