Since the first day of Level 2, I have been surprised by the amount of enquiry and activity, and good quality listings are being well received. I have noticed very little change in regard to receiving offers on investment properties and lease tenancies from before the first wave of COVID-19, although this may change in the coming months.
With the impact of COVID-19 in 2020, what is the new normal for the economy and more importantly for our commercial and rural property? This is something that we are all trying to understand and navigate and something that only time will reveal!
New York, NY – April 30, 2020: The Coronavirus is impacting global property markets with equal severity to what is happening in the U.S. this spring. The greatest disruptions, again like the U.S., have been in resort and hospitality sectors, retail real estate, commercial office and to a lesser extent, industrial properties.
If anyone says to you that they have a good feel for what is going to happen during the global shutdown as we fight the COVID-19 pandemic, ask them this simple question. What is it you saw happen during the previous pandemics?
Infrastructure is essential to the efficient operation of our cities and impacts on how we live, work and play. It can also offer a significant opportunity for those looking to invest in commercial property or businesses.
This issue of Market Leader features:
- Key Assets final issue for 2019 out now
Harcourts National Auction Manager, Aaron Davis, talks about selling commercial property at auction and the intangible factors that can make the magic happen.
Aaron Davis has been in real estate for 15 years and has called upwards of 4,500 auctions over the past decade. You could say that Davis has real estate in his genes. His father owned the Harcourts Blenheim franchise, which is where Aaron cut his teeth on the business of selling real estate.
By now, we all know about co-working, a new business model which totally disrupted the commercial real estate office sector in the US by reimagining the workspace. Co-working has quickly expanded to become the country’s most popular office design scheme.
Global growth continues to edge down amidst an almost farcical global political backdrop. Back home, sentiment has, if anything, darkened in response to the Reserve Bank (RBNZ) 50 basis point OCR cut in August. For property markets, will the allure of low interest rates overcome ingrained caution?