Between August 2019 and March 2020, Georgetown rents skyrocketed with strong oil and gas demand and limited rental supply. In March 2020, the COVID-19 pandemic began to impact Guyana and the Georgetown housing market. This, combined with the Guyanese General Elections on March 2nd, resulted in decreased demand. With fewer assignee arrivals, landlords became increasingly anxious over the thought of empty properties and are now more willing to negotiate rents.
The expatriate rental market in Luanda has been mostly uneventful over the past year. Kwanza prices for apartments and villas have not shown any major movements, although in USD rental prices have come down due to the depreciating Kwanza.
London rents decreased over the last twelve months with the impact of COVID-19. Multiple lockdowns have forced renters to re-evaluate where they want to live. Demand has shifted to rentals with more space, such as balconies, terraces, and gardens. Work-from-home and remote work policies enable tenants more flexibility and recent demand has been for suburban locations with access to green spaces.
Singapore’s expatriate rental market is relatively stable despite more assignee departures than arrivals. While supply is greater than demand, sources say most incoming expatriates want to live in apartments close to MRT and schools. Many landlords of desirable apartments can continue to charge listed rents for now.
Heung Gong – the Cantonese translation of Hong Kong means “Fragrant Harbor,” a name inspired by the city’s past as an incense trading port.
On July 15th here in my hometown, Hong Kong enacted its most stringent Covid-19 lockdown to date. The number of cases here has continued to rise over the past ten days with many of the new infections are coming from unknown origins.
I arrived early in the morning at Kinshasa’s N'djili International Airport this past January 29th on a connecting flight from Addis Ababa. Upon arrival, I expected the same chaos that I experienced during my previous surveys in 2003 and 2008, but I was pleasantly surprised.
My expectations for my November visit to Luxembourg did not include traffic jams, road closures, scaffolding, bulldozers, excavators, jackhammers, or circumnavigating around open-pit construction sites, but that’s exactly what I found.
The Bandra Kurla Complex in Mumbai, referred to by many as BKC, has continued to develop and is fast becoming the new business and residential heart of Mumbai. Originally intended to serve as an alternate business district to help decongest south Mumbai, commercial office stock has increased at phenomenal rates in the past five years. BKC now houses India’s Stock Exchange and the Indian headquarters of many large multinational companies.
Mumbai has long been known as a city with high levels of air pollution from the choking congestion and horrendous traffic conditions. During my recent survey, I confirmed that this reputation has yet to change! The construction of the elevated lines of the Mumbai Metro project continues to aggravate traffic problems along SV Road in the expat areas of Bandra, Santa Cruz, and Khar. Additionally, rush-hour gridlock in Bandra Kurla Complex (BKC) is being impacted by the work on the BKC Metro station project where there will be a new Metro Line 3 and 2B interchange.