Many international commercial occupiers are postponing leasing deals, with uncertainty around global demand, supply chains and cashflow leading to a delay in decisions, according to Knight Frank.
The Knight Frank Asia-Pacific April 2020 Market Bulletin: COVID-19 and its impact on real estate found that in the first two weeks of April, almost three-quarters (or 73 percent) of the region’s 15 major office markets recorded a drop in leasing activity. Manila, Guangzhou, Shenzhen and Hong Kong were the only four markets that registered stable leasing activity.
A sentiment survey conducted with Knight Frank brokers saw 11 out of 15 markets reporting slower leasing activity within their markets since April 1.
“The need to preserve cash and reduce capital exp
