Residential activity was generally optimistic before the lockdown

The global economy came to a standstill by mid-March as countries closed their borders and effectively shut down cities in an attempt to slowdown the spread of COVID-19. In the following two to three months, as government directives forced people to stay-put, we spent a large part of our time at home. Residential space in most cases quickly doubled-up as an office and / or a makeshift gym and / or a place of recreation.
 

After a prolonged period of confinement, people are gradually emerging into a new norm of live, work and play as lockdown ease across the region. Even though activity levels have bounced back, albeit still lower than pre-COVID levels, a general inhibition towards spending a lot of time outside has in turn led people to relook at their current residential space. In most cases, this means either relooking at their current residential set-up and making necessary upgrades or considering relocating to suit their newfound lifestyle. This has led to a marked shift towards how we perceive our residential spaces. To better understand how occupier sentiments have evolved in the last few months, Savills undertook an online survey of occupiers across the region. This survey was undertaken in the month of July and captures the sentiments of individuals towards residential units pre and post lockdown.

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