Thailand Business News
Thailand Business News

What does coronavirus mean for Asia Pacific real estate? – Real Estate

Must read

Cabinet ministers discuss third phase of economic measures

BANGKOK (NNT) - After acknowledging the severe impact of the coronavirus disease 2019...

Officials put out forest fires in national park in Chiang Mai

CHIANGMAI(NNT) - The Governor of Chiang Mai, Charoenrit Sanguansat, said today that officials...

Banks assure no new account needed for assistance payments

BANGKOK (NNT) - Krungthai Bank (KTB) and the Government Savings Bank (GSB) have...


Real estate investors in Asia Pacific are steeling themselves for impacts stemming from the coronavirus, the threat of which would add to existing economic headwinds in the region.

While it’s too early to know exactly how commercial real estate markets could be affected, the increasingly important position of China on the world stage means economic repercussions are likely, according to a JLL report on the topic.

“The virus is untimely for China given that it’s the start of a new calendar year and the spread escalated during the country’s most important holiday of Chinese New Year in late January,” says Roddy Allan, chief research officer, JLL Asia Pacific. “This has made it more difficult for the Chinese economy to reopen fully.”



The coronavirus virus – which originated in Wuhan, China, in December late last year – has spread globally, with cases reported in Southeast Asia, Europe and United States. In China, factories, malls and tourism have been affected, adding to strains from trade tensions with the U.S. last year.

“The Chinese government understands the central role it plays to keep the global economy stable and has moved swiftly and decisively to manage the fall-out, avoiding a sharp correction,” Allan says.

Adding to the strain

While the final 2019 figures aren’t yet out, Asia Pacific’s gross domestic product likely slid to 5.8 percent last year compared to 6.3 percent in 2018, according to a World Bank report in October, due to the trade war and lower global demand for exports.

While the region’s real estate had a strong showing overall in 2019, rental declines were evident in key markets such as Hong Kong and Beijing.

“Even before the coronavirus crisis, investors were already exercising caution and seeking…

Read the complete article on Thailand Business News

More articles

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest article

PM urges stringent punishment of forest arsonists

BANGKOK (NNT) - The air pollution level this morning has been of concern...

Banks assure no new account needed for assistance payments

BANGKOK (NNT) - Krungthai Bank (KTB) and the Government Savings Bank (GSB) have...

Cabinet ministers discuss third phase of economic measures

BANGKOK (NNT) - After acknowledging the severe impact of the coronavirus disease 2019...

Diversification and Real Estate – Real Estate

Diversification is a key strategy to form a crisis-proof portfolio of assets. Investors must find sound investments in which to place their wealth while...

COVID-19 could cut 30 million jobs in the tourism industry in Asia – Tourism, Travel

The World Travel and Tourism Council has warned the COVID-19 pandemic could cut 50 million jobs worldwide in the travel and tourism industry.Asia is...