Much weaker commercial real estate investment volumes in the second quarter of 2020 reflect the impact of lockdown measures and border controls enacted to combat the COVID-19 crisis.
The global economy has been badly hit by the COVID-19 pandemic as it hindered economic activities and travels between countries.
A number of global cities are seeing sales volumes continue to recover with April looking to be the low point for residential activity.
According to JLL's latest Hong Kong Property Market Monitor, rents in the overall Grade A office market continued to rise albeit at a slower pace last month. Average rent of Grade A office climbed 0.5% m-o-m in October, compared to a 1.0% m-o-m growth in September 2018.
One of California's toniest towns, Beverly Hills, is an example of prime real estate that will always be in demand. When the economy is strong, prices appreciate quicker than the overall market.