Market Views: Has Covid-19 popped commercial property's appeal?

One major business impact of the Covid-19 pandemic has been enforced lockdowns and white collar employees having to work from home for extended periods. It has had a deleterious impact on the valuation of commercial real estate, in Asia and across the world. Hong Kong, as one of the most expense proprerty markets in Asia, saw a 22% decline in gross leasing activities of offices in the second quarter this year, the lowest quarter since early 2014. And overall office vacancies rose …