SIRVA Housing Matters
Review of 2020 Rental Market and 2021 Rental Trends in Asia Pacific and the Middle East
Globally, the COVID-19 pandemic has accelerated the change in the real estate market and impacted the rental market for expatriates. The rental trends from 2020 are likely to continue well into 2021. In markets such as South East Asia and the Middle East, where homeownership is high, properties that are dependent on expatriate tenancies may suffer further drops in rental activity if the net new inflow of expatriates is negligible. In contrast, in places where domestic demand is strong with relatively low supply, such as in major cities across Australasia and Japan, rental activity would continue to be strong and may even rise. In China, affluent locals may fill part of the void left by a lack of expatriates, with their own demand for high-end properties and serviced apartments.
A joint undertaking between SIRVA’s in-house Destination Service Housing Matters report provides an overview of how the relocation rental market has evolved from 2020 to 2021 across Asia Pacific and the Middle East. This serves as a quick guide for Human Resource and Global Mobility teams to understand the rental disparity and regulatory nuances between countries, making an informed decision when planning a relocation budget or embarking on a home search service at the destination country.