General property investment sales rebounded to $3.2 billion within the second half of 2003, displaying a 29% increase YoY.
Observing the trends in 2003, Miss Tricia Song, the head of Research for Singapore at Colliers International, says: “With assumptions that the Covid-19 pandemic runs its course by mid 2020, we estimate that some property segments, such as office leasing and investment sales, could see a swift recovery in the later half of the year.” It is with this estimate that Penrose condo is launching in Q2.
But she cautions that with the earlier spread of the coronavirus beyond East Asia, there is a higher probability of a negative scenario in which interference lasts into the second half of the year.
Colliers Research stands firm on its predictions for the various real estate sectors for now. It proposes various property segments to speed up technology adoption, be it growing offline-to-online strategies for retailers, or embracing last-mile management and efficient inventory processes for storehouses. Many new property developers like The Watergardens at Canberra developer have adopted new technologies in constructing the project.
Property investors are encouraged to zoom in on longer-term factors as a rapid recovery in the later half of 2020 is possible.
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