Property professionals across Southeast Asia are anxious to get back to business as normal. When exactly that will be is still uncertain, but we can look to China to see what a potential property market recovery in the region would look like.<\/p>\n\n\n\n
Across the mainland, malls and offices have reopened as life resumes. Property sales offices have reported an uptick of action as property buyers look to take advantage of discounts or finalize transactions which began before or during the country\u2019s lockdown. The early returns are promising for those hoping to see a rapid property market recovery in Southeast Asia.<\/p>\n\n\n\n
According to the Straits Times, Singapore-based CapitaLand recorded residential sales of CNY1.3 billion (USD 184.5 million) in March. The firm\u2019s Chinese arm began reopening sales offices throughout the month and is now operating at full capacity. The March sales total was 5.5 times greater than the homebuilder\u2019s sales in January and February combined.<\/p>\n\n\n\n
The developer, which is also active in Vietnam in addition to China and its home base of Singapore, has resumed work on nearly all of its unfinished projects and is now focused on meeting annual sales and handover targets. CapitaLand believes demand from residential real estate didn\u2019t change due to COVID-19 and this will power the property market through 2020 and beyond.<\/p>\n\n\n\n