AIRINC (Associates for International Research, Inc.)

While South American countries have a wet season, the duration and severity vary. Knowing this and having traveled extensively throughout the continent, my February survey delivered some unique experiences. I encountered urban flooding in both Brazil and Paraguay and in both instances the flooding occurred subsequent to a relatively short period of rainfall. Both times also seemed to be a failure of infrastructure more than anything else.

This February I surveyed Cape Town, Durban, and Johannesburg, South Africa. After 30+ travel hours from Boston, I arrived in Cape Town eager to decompress in my hotel room. Once there, front desk staff informed me that I could not check in yet because the power was down. They explained that the typical length of a blackout is two hours and this one had started about a minute after my arrival.

1. How has COVID-19 impacted buying and selling real estate in the United States and Canada? Typically, the hope is for a linear path for the homebuying and home selling process. Most of the time, there will be at least slight deviance from the path during the process. Currently, there’s more deviation than is standard, but the real estate market is resilient and somewhat surprisingly resilient in the current times.

During my Abidjan survey this past February, I found Ivorians to be friendly, often greeting me with “Bonjour Monsieur!” Shopping malls are expanding as new brands arrive in the Ivory Coast market, and good security provides safe areas for expatriate shopping.

1. What is the most common question you are facing with home sales/purchases and how are you addressing it? Are things still closing? The resounding answer is ”yes, they are, but…” We’ve seen some declines and many delays year-over-year in home sales and home purchases, but closings are happening and prices remain steady because of the historically tight inventory availability.

I relocated to San Francisco in 2013. As someone who lives here and works in the cost-of-living industry, I can confirm that SF is one of the most costly places in the world. But, I'm also here to tell you that living here is worth the cost. The Bay Area is a truly wonderful place to live. But organizations often have a hard time relocating talent here due to the cost. But even when we do convince people to move, relocations often fail because organizations don't help relocating employees understand the nuances of the Bay Area and find the right housing fit for them.

During my Switzerland survey, I found that many people choose to live in Zug for its lower cost of living and lower tax costs compared to neighboring cities Lucerne and Zurich. Zug is just about thirty minutes by train, which makes it a practical choice.

What is the best solution for your company: full-service relocation, lump sum amount, or a hybrid approach? It’s a hotly debated topic within corporate relocation programs and is discussed at almost every industry event. Companies must weigh their budget against the level of support they are willing to provide transferees. There’s no easy answer, no one-size-fits-all.

My first domestic relocation happened on Valentine’s Day 2010, a few months after my college graduation. At the time, I was living at home with my parents in Central Mass when I accepted a job offer in Minneapolis. Although I did not know anything about the Midwest, I was beyond excited for my first real (i.e. salaried) job and the adventure that awaited living in a new state.

While no one can predict when the COVID-19 outbreak will be contained, the pandemic has firmly stalled and reversed rising property trends across Hong Kong, Shanghai, and Singapore. AIRINC spoke to industry experts across Asia’s most dynamic business hubs to understand the unique characteristics of each market and what changes and opportunities lie ahead.