Tech’s retrenchment hammers landlords with glut of empty offices

April 1, 2023

US tech giants, grappling with a post-pandemic slowdown, have already laid off tens of thousands of workers. Now they’re dumping millions of square feet of office space, pushing vacancies in city centres to record highs and ratcheting up pressure on the commercial real estate industry.

Written by: sherwin@eyeconz.com

Real Estate News April 1, 2023

Chinese property developer Sunac posts US$2 billion core loss in 2022

MAJOR property developer Sunac China on Friday logged a net narrowing core loss of 13.86 billion yuan (S$2.7 billion) in 2022, as the debt-laden firm slowed its project construction and incurred higher interest expenses.

Swedish home construction set to plummet this year, Nordea says

SWEDISH home construction is likely to plummet in the wake of falling housing prices, weighing heavily on the Nordic country’s economy, Nordea Bank Abp said in an outlook report.

Real Estate News May 9, 2023

New York’s smallest businesses face big rental hikes

THREE years after the pandemic flattened the Manhattan office market and the commercial ecosystem that depended on it, small businesses in the other boroughs are facing the biggest rent increases in the city. The burden is landing mostly on store owners in predominantly Black, Latino and Asian neighbourhoods, according to a new analysis of Department [...]

Since most property valuation is derived by a neighbourhood of reasons, we felt that there are no better ways of informing our clients than making sense of current affairs. We advise buyers and sellers throughout your real estate purchase or sale process, ideally looking out for you. Contact Us!

Tech’s retrenchment hammers landlords with glut of empty offices

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Chinese property developer Sunac posts US$2 billion core loss in 2022

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Swedish home construction set to plummet this year, Nordea says

New York’s smallest businesses face big rental hikes

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Since most property valuation is derived by a neighbourhood of reasons, we felt that there are no better ways of informing our clients than making sense of current affairs. We advise buyers and sellers throughout your real estate purchase or sale process, ideally looking out for you. Contact Us!