RESEARCH • 6 July 2020

Second wave of COVID-19 unlikely to derail economic recovery

After a tumultuous H1 2020, most economies have exited out of lockdowns. 


  • In the event of a second wave, we do not expect global economies to go into full lockdowns again, which would derail the ongoing economic recovery. The impact from a second wave, provided it is mild in terms of pressure on healthcare systems and fatalities, is unlikely to have the same impact on the global economy and investment markets as seen a few months ago.
  • For investors with capital to deploy, the resumption of economic activity and recovery points to a window of opportunity ahead as capital values re-adjust. Hence, it is important to have capital ready for deployment as the period ahead represents one of the best times to invest in quality real estate.
  • As Asia-Pacific flattens out the infection curve, the region is set to lead the global economic recovery ahead of other regions. Over the next five years, the Asia-Pacific region is set to account for a greater share of global growth, which should support expectations of occupancy, rents and returns.




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