Description:
In the first part of this report, the summary of 2020 U.S. Real Estate Outlook will be summarized and analyzed based on published data, reports, and reviews. First, this report will summarize the important factors in the 2020 U.S. economic forecasts after the COVID-19 pandemic to visualize the current economic situation. After that, this report will analyze the 2020 U.S. Commercial Real Estate and Housing Outlook from different perspectives. The second part of this report will focus on the major influence factors on the 2020 U.S. Real Estate Market. The third part of this report will analyze the performance and outlook of REITs in the U.S., China, and Singapore.
Table of Contents
Abstract ------------------------------------------------------------------------------------------------------------------3
Part I: 2020 U.S. Real Estate Outlook
Economy ------------------------------------------------------------------------------------------------------3
- GDP ---------------------------------------------------------------------------------------------------4
- Inflation -----------------------------------------------------------------------------------------------5
- Unemployment Rate-------------------------------------------------------------------------------6
- Service PMI -----------------------------------------------------------------------------------------7
- United States Federal Fund Rate -------------------------------------------------------------8
U.S. Commercial Real Estate Outlook -----------------------------------------------------------------9
- Outlook -----------------------------------------------------------------------------------------------9
- Capital Market --------------------------------------------------------------------------------------9
- Commercial Sales -------------------------------------------------------------------------------10
- Commercial Leasing ----------------------------------------------------------------------------11
- Commercial Construction ----------------------------------------------------------------------11
- Office Properties ---------------------------------------------------------------------------------12
- Retail Properties ---------------------------------------------------------------------------------12
- Industrial Properties ----------------------------------------------------------------------------13
- Multifamily Properties --------------------------------------------------------------------------13
U.S. Residential Real Estate (Housing) Outlook --------------------------------------------------13
- Outlook and Housing Market in 2020 ------------------------------------------------------13
- Housing Supply ----------------------------------------------------------------------------------14
- Housing Demand --------------------------------------------------------------------------------16
Investment Forecast --------------------------------------------------------------------------------------16
Top U.S. Real Estate Funds Performance ----------------------------------------------------------16
Conclusion -------------------------------------------------------------------------------------------------- 19
Part II: Influence Factors of 2020 U.S. Real Estate Market
The impact of COVID-19 --------------------------------------------------------------------------------20
Impact on Housing Market --------------------------------------------------------------------20
- Outlook -----------------------------------------------------------------------------------20
- Supply of New Listings ---------------------------------------------------------------20
- Demand for Homes --------------------------------------------------------------------21
- Home Prices ---------------------------------------------------------------------------- 21
- Unemployment Rate and Jobless Claims --------------------------------------- 22
Impact on Commercial Real Estate Market -----------------------------------------------22
- Pre-COVID-19 --------------------------------------------------------------------------22
- After COVID-19 -------------------------------------------------------------------------23
- Private Equity Real Estate -----------------------------------------------------------24
- Government Actions to COVID-19 ------------------------------------------------24
The impact from Fed Cuts Interest Rate -------------------------------------------------------------24
- Positive Attitudes ---------------------------------------------------------------------24
- Negative Attitudes ------------------------------------------------------------------- 25
The impact of Policy Change -------------------------------------------------------------------------25
- Outlook --------------------------------------------------------------------------------- 25
- California Prop 13 ------------------------------------------------------------------- 25
Conclusion ------------------------------------------------------------------------------------------------ 27
Part III: 2020 REITs Performance and Outlook
U.S. REITs Performance and Outlook --------------------------------------------------------------28
- The Performance for U.S. REITs During the COVID-19 Crisis ------------28
- The Performance for U.S. REITs in June 2020 --------------------------------29
China REITs Performance and Outlook -------------------------------------------------------------31
- Overview ---------------------------------------------------------------------------------31
- Recent China REITS policy ---------------------------------------------------------33
- Main features of C-REITs under the pilot scheme -----------------------------34
- C-REITs Weaknesses and opportunities ----------------------------------------35
Singapore REITs Performance and Outlook -------------------------------------------------------36
- Impact on Singapore REITs Under the COVID-19 Crisis --------------------36
- Hospitality --------------------------------------------------------------------------------37
- Retail --------------------------------------------------------------------------------------37
- Office --------------------------------------------------------------------------------------37
- Industrial ---------------------------------------------------------------------------------38
Reference -------------------------------------------------------------------------------------------------------------39