Coronavirus threatens fragile gains in retail, industrial real estate

Recovery likely to be marginal as downside risks persist amid uncertainty, warns Colliers

Shoppers wearing protective masks in a shopping street in Singapore's Chinatown area last week. A decline in overall retail sales last year suggests the spread of the coronavirus can dampen consumer sentiment, said Colliers International, but rents a
Shoppers wearing protective masks in a shopping street in Singapore's Chinatown area last week. A decline in overall retail sales last year suggests the spread of the coronavirus can dampen consumer sentiment, said Colliers International, but rents are expected to stabilise and recover gradually as the new supply pipeline eases over the 2020-2024 period.PHOTO: BLOOMBERG

The coronavirus outbreak may cut short a recovery that the property market here has just started to flag.

Both the retail and industrial property markets showed signs of bottoming in the second half of 2019 and will likely continue to stabilise throughout this year, said Colliers International.

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A version of this article appeared in the print edition of The Straits Times on February 17, 2020, with the headline 'Coronavirus threatens fragile gains in retail, industrial real estate'. Subscribe