Property investors, this is the bad news
A global index of real-estate shares has shed more than 10% in 2020 as a gauge of all types of stocks surged about 13%
18 December 2020 - 11:03
London — Property investors are about to discover just how much the global fallout from the coronavirus pandemic has spread from deserted and cast-off buildings to their bottom lines.
Hundreds of corporate executives tracked in earnings calls around the world in the past five months addressed the urgency to cut real-estate costs, according to an AI model trained by Bloomberg to scour transcripts. Tactics include cutting office space, accelerating branch closures, renegotiating rents on warehouses and even shutting data centres...
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