Office: Office demand worsened in Q3 as occupiers weathered the storm of COVID-19-induced uncertainty. Net absorption fell to a record quarterly low, sending availability to a 15-year high of 11.6%.
Retail: The retail market remained dominated by the COVID-19 environment in Q3, with continued travel restrictions reducing tourism to negligible levels. Store closures multiplied, with the overall vacancy rate in core districts climbing to a record 17.7%.
Investment: Investment activity remained subdued in Q3 as investors remained on the sidelines amid pandemic-related global uncertainty. Total transactions dropped 35% y-o-y.
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