The new year has greeted us with a new range of uncertainties.
The coronavirus is beginning to gain traction in property circles as an explanation of a loss of cross-border investment momentum in January. This is possible given the travel restrictions that are in place globally. Brexit uncertainty seems to be withering on the vine as UK businesses seem resigned to having to adapt old business models to new circumstances.
For the moment, occupier markets are stable and still grappling with lack of new space with little respite in sight, although the MSCI Quarterly Index shows a Q4 19 surge in development expenditure. In short, despite some positive signs of renewed business confidence generally and property specifically, it is still too early to see the contours of 2020 as a whole. As ever, we will keep tracking.
