Singapore

Leasing recovery will depend heavily on the efficacy of vaccination programs this year.

Headline CBD Grade A office rents are projected to fall by 5% to 6% this year..

A $1.02bn acquisition is on top of the list. Led by Gebr Knauf’s $1.02bn acquisition of Usg Boral Building Products, Asia-Pacific’s construction & real estate industry saw a drop of 13.16% in cross border deal activity during Q4 2020, when compared to the last four-quarter average, according to GlobalData’s deals database.

Singapore is still the most active source of outbound capital for three years now.

CBRE comments that these rates are within expectations.

Only Taipei and Shanghai reported prime office rental growth of 0.9%.

The property firm's revenue fell by 38.5% for FY 2020.

Retail rents in Singapore declined 2.5% on average in H2 2020.

This accounts for $12.1b worth of deals in 2020.

But the outlook for the hotel industry in Singapore in the immediate term remains cloudy.

Around 6% of deals were put off in 2020.

Rising supply will also lift vacancies in Tokyo, Asia’s largest office market.

1,609 units were sold during the month, 159.5% more than the 620 units sold in January 2020.

Transactions were down 31% to US$134.6b in 2020, the lowest since 2012’s US$131b.

The shift to a hybrid work model is forcing landlords to upgrade office spaces.

Grade A offices in Seoul, Taipei, Ho Chi Minh City and prime industrial spaces in Australia are top picks.