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March 2020 | COVID-19’s Impact On Korea Real Estate (English version)

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COVID-19’s Impact On Korea Real Estate

 

We expect negative impacts on the Korean economy and commercial real estate markets due to the COVID-19 outbreak.

 

  • COVID-19 may result in a near-term hit to leasing demand in the Seoul office market at a time when new supply is due to rise. This creates an opportunity for tenants to seek space for relocation or expansion on favorable terms.
  • Corporates should implement telecommuting and work from home policies.
  • We expect the hotel industry to be sluggish due to COVID19. However, the office sector should continue to attract investors’ attention with abundant liquidity and low interest rates. 
  • Industrialists should focus on integrated logistics and distribution facilities

 


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March 2020 | COVID-19’s Impact On Korea Real Estate (English version)

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