Home   »   Press Release   »   CBRE Released The Result Of Occupier Flash Survey Amid The Impacts Of Covid-19
CBRE Released The Result Of Occupier Flash Survey Amid The Impacts Of Covid-19
 

Ho Chi Minh City, April 27th, 2020

 

Vietnam has shown positive results in disease containment and started to ease social distancing measures from April 23rd. However, the COVID-19 pandemic has raised heightened concerns on the business environment and prospect of many businesses and industries.

CBRE Vietnam conducted a flash survey of 180 occupier clients, from 9 to 10 April 2020, in order to gauge the industry response to the COVID-19 outbreak.

According to the results:

  • The economic impact of COVID-19 outbreak has weighed heavily on business sentiment in Vietnam, with 79% of respondents anticipating the business environment to deteriorate in H2 2020.
  • 43% of respondents anticipated a revenue contraction between 10% to 30% in 2020.
  • 61% of respondents have not been offered relief measures from landlords.
  • 27% of respondents expected landlords to be more accommodative as their businesses have been severely disrupted by COVID-19. 

 

A broader survey, which reviewed occupiers’ opinions in the Asia-Pacific region, found that the retail industry was significantly impacted by the disease, with many stores suspending their expansion plans. Such delays in rental decision will have a lasting impact on the following months. However, 24% of participants in the region still expected revenue growth in 2020, of which the Information Technology industry is the most optimistic.

 

 

According to Ms. Thanh Pham, Associate Director of CBRE Vietnam: “There will be many new trends on Business Continuity Planning that occupiers will focus on in the coming time. Companies are now more aware of the importance of evaluating and developing effective office use/allocation strategies. The application of technology will be a leading factor in various industries, including the technology industry. More than half of occupiers in finance and banking sector are considering splitting up their teams across multiple buildings.”

 

END

© 2016, CBRE, Group Inc. CBRE Limited confirms that information contained herein, including projections, has been obtained from sources believed to be reliable. While we do not doubt their accuracy, we have not verified them and make no guarantee, warranty or representation about them. It is your responsibility to confirm independently their accuracy and completeness. This information is presented exclusively for use by CBRE clients and professionals and all rights to the material are reserved and cannot be reproduced without prior written permission of CBRE.