SIRVA Housing Matters | Market Snapshot: Asia Pacific & Middle East (August 2019)
The Current Landscape
The first half of 2019 started on a weaker-than-expected note, with slowing trade and investment in the region and beyond. The World Bank has now decreased its 2019 global growth forecast from 2.9% to 2.6%.
The trade war between the United States and China is still ongoing as both countries continue to disagree on a variety of issues. Elsewhere, the Brexit deadline has been extended until the end of October, but there is speculation that the United Kingdom remains at risk of a no-deal separation. These global events will continue to influence the world’s economic landscape, making navigating regional landscapes challenging in the uncertain second half of the year that looms.
Expatriate movement trends in the first half of the year have mostly followed norms, and rents for residential properties are generally strong in most markets, except in the UAE.