The outbreak of the COVID-19 virus has led to many deals being put on hold across EMEA markets as occupiers adopt a wait-and-see approach. While the timing of a recovery in Europe remains uncertain, the positive news from our APAC teams – which are some 6-8 weeks ahead of the European curve – is that they are seeing light at the end of the tunnel. Mobility restrictions remain in place across markets, but staff are gradually returning to work as the region gradually moves out of the lockdown phase. There is now cautious optimism in APAC for a V-shaped economic recovery in H2 2020.
Occupier sentiment has been strong from a domestic perspective, but international sentiment is hesitant until the situation in North America and Europe becomes clearer. The biggest question mark for the APAC markets is how quickly Europe and North America will recover, allowing international multi-national corporations (MNCs) to release the handbrake on their decision making. Yet certain sectors – IT, digital tech (online gaming and entertainment), life sciences and FMCG – are witnessing a pick-up in activity. We have gathered insights and recommendations from across our EMEA experts to help you continue to accelerate your success through property. Click here for our whitepaper, The EMEA Office Market Response to Covid-19.
For more detailed insights from our market leaders and workplace experts on the impact of COVID-19 on the EMEA market, click here.