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Cushman & Wakefield: The Impact of COVID-19 on Swiss Real Estate | Instant News


The COVID-19 case count was out of control so the Federal Government decided to take further action. The number of customers per square meter in shops has been reduced, there is a two-household rule for private meetings and restaurant visits, and now there are various restrictions for ski resorts. In addition, the Federal Government continues to advocate working from home.

Housing

Net yields for Swiss residential properties have remained stable during the COVID-19 pandemic. Vacancy rates in major cities such as Zurich and Geneva remain very low with stable average rental prices of CHF / sq m 330 in Zurich and CHF / sq m 370 in Geneva. Interest rates are expected to remain low until at least the end of 2021, which makes residential properties in sought after locations still a profitable investment for pension funds, other institutional investors, and wealthy private investors.

Office

The office markets in Zurich, Geneva and Basel remained stable during 2020. Prices fell slightly in the middle of 2020 but jumped again towards the end of the year. The vacancy rate in Geneva remained the same (5%), office space in Basel increased slightly from 1.8% to 2.2% and in Zurich the vacancy rate fell from 1.4% to 1.1%. The median rent per square meter is CHF 360 in Zurich, CHF 240 in Basel and CHF 470 in Geneva. In suburban locations and locations with weaker infrastructure, the impact of COVID-19 is visible. Economic prospects as well as the increasing demand for a modern work environment make this location less desirable. Potential tenants at peripheral locations are very price sensitive, which causes prices to drop.

Retail

The rental price for retail space on the Zurich highways increased to CHF / m2 440 from CHF / m2 400 at the start of the year. Retail properties in the cities of Basel, Lausanne, Berne and Geneva also saw a slight increase in rental prices. Non-food retail spaces that are located within walking distance of the highway and on the outskirts are experiencing a decrease in demand resulting in lower prices.

In short, the demand for real estate with stable cash flow in a good location remains high among Swiss investors. Net yields for residential, CBD offices and highway retail properties were almost unchanged. The results for offices and retail in secondary locations have increased markedly.

October 29

The number of new COVID-19 cases has increased almost exponentially over the past few weeks, and to date, the federal government in Switzerland has decided on some additional measures that will have a drastic impact on everyday life.

Meetings in public spaces and private events are now limited to 15 and 10 people, respectively, and masks have to be worn almost everywhere.

Sports and cultural activities are limited to some extent which makes them largely impossible. Nightclubs must be closed and there is a curfew from 23.00 to 6.00, universities should switch to distance learning, and working from home is strongly recommended.

The appetite for real estate investing remainshigher, also driven by Swiss pension funds and insurance companies whose cash surpluses increased during the first lockdown.

We’ve seen a lot of traction on transactions related to property types including:

  • residence;

  • mixed use; and

  • commercial / industrial including development.

Investors still look at the core office, but currently there are only smaller properties on the market. We expect most of the ongoing deals to close before the end of the year – now that being used to the pandemic situation most investors have experience on how to deal with it.

The demand for office space from occupants fluctuates, with some companies still securing large spaces for the foreseeable future, while others are now focusing on more flexibility.

August 19

The pandemic COVID-19 outbreak caused the most serious decline in economic activity in Switzerland in more than four decades. Although there are signs of easing in the business situation, there is still a measurable drop in demand.

Swiss economic development will continue to depend on the pandemic. In the updated scenario, the leading Swiss Institute of Economics predicts that output will shrink by 4.9% this year, based on the assumption that the possible increase in new infections in the winter months can be contained.

However, the Swiss economy weathered the crisis relatively well compared to other European countries, with the GDP growth rate for 2021 estimated at 4.1%. Residential real estate and certain core products are crystallizing as safe havens for investors, and the importance of new asset classes such as Data Center be elevated.

August 5

Switzerland has had very few new COVID-19 cases since mid-May, so by June most of the restrictions had been lifted. As the number of cases increased slightly in July, it is mandatory to wear masks on public transport and self-quarantine for ten days after entering Switzerland from high-risk areas. Business continues as usual.

The corporate invaders are bringing people back to their offices (with and without social distancing) and there is debate as to whether they will try to reduce their existing footprint. While we have several examples of companies placing excess space in the market, this appears to be related to the difficult economic situation and decreased business turnover compared to implementing alternative workplace strategies.

Office and retail activities are on the rise again as tenants with expired leases are looking for attractive opportunities. Even with slightly less than usual demand, due to low supply, the main German-speaking Swiss centers show a paradoxical increase in market rents in certain sub-markets (eg Zurich CBD). However, the disparity in office vacancy rates and market rental rates is expected to widen between city and suburban locations.

The funding situation of Swiss institutional investors has not changed, and they are still looking to invest in both core and core + real estate with a home bias. The big deal that started before COVID is now continuing, with the sale of the 53,000 square meter Glatt Center in Zurich and other significant deals having been announced recently.

23 April

Last Thursday, the Federal Council announced plans for a ‘way back’ to a ‘new normal’:

  • April 27: some shops can be reopened, such as: hairdresser, DIY / garden center, flower shop

  • May 11: all retail stores can be reopened, schools too

  • June 8: the university will reopen, as well as a museum and zoo

The borders are still more or less closed, people are still told to stay at home and work from home. There is no set date for reopening the restaurant, bar, coffee shop and sports facilities. This says about 75% of Swiss companies are still working normally.

The commercial real estate market began to react to the economic slowdown. Landlords with restaurants and shops in their portfolios face a lot of pressure to reduce rents or even waive rents. We see that the retail real estate sector and the hospitality and leisure industry are temporarily near ‘dead’. In the office market, we see transactions go further as if nothing has changed and others are delayed or even stopped. In the investment market we see that the transaction process has not started, some are postponed, some transactions are still closed.

April 16th

Since last week, lock entry Switzerland has extended to 26 April. Schools, universities, shops (grocery store, gas station still open) and restaurants remain closed.

April 9th

In Switzerland, the lockdown was announced on March 13. Schools, universities, shops (grocery store, gas station remain open) and restaurants are closed at least until April 19. People were told to stay at home. Offices, construction sites and factories are still functioning – although everyone is asked to work from home whenever possible.


The authorities have developed several packages to try to help those affected by the actions being taken by the Federal Council (Bundesrat). As:

  • Loan

  • short working time for all sectors

The commercial real estate market began to react to the economic slowdown. Landlords with restaurants and shops in their portfolios face pressure to reduce rents or even waive rents – at least until the end of the closure.

Although some landlords are already facing difficulties obtaining leases for commercial space, the real estate industry has not reacted so far.

There is no clear vision for the future, but the retail sector appears to be ‘dead’ for now, especially as all shops are closed now.

There is also uncertainty in the office market. Some transactions are running as normal while others have been postponed or even stopped completely.

In the investment market we see transaction processing not starting, some being delayed, some being closed. The pricing still looks quite high and unchanged.

Denial

Cushman & Wakefield plc publish this content on January 14, 2021 and take full responsibility for the information contained therein. Distributed by the Public, unedited and unaltered, at 14 January 2021 20:37:02 UTC

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‘Kiwi as’ Prime Minister Jacinda Ardern started the year in Tairua | Instant News


Lifestyle

Prime Minister Jacinda Ardern with staff at All Things Organic in Tairua, Gina Easton, Emily Ryan, Xanthe Cottier-Hall, Natasha Woolley, Zoe Bourne. Photo / Provided

Prime Minister Jacinda Ardern wrapped up 2020 with real fruit ice cream during a family holiday in Tairua.

Ardern spent the last few days in the small town on the east coast of the Coromandel Peninsula, where he called fiancé Clarke Gayford and daughter Neve over the new year.

On New Year’s Eve, Ardern visited the All Things Organic store in Tairua with Gayford and Neve and even jumped behind the counter for a “quick shift.”

Prime Minister Jacinda Ardern with staff at All Things Organic in Tairua, Gina Easton, Emily Ryan, Xanthe Cottier-Hall, Natasha Woolley, Zoe Bourne.  Photo / Provided
Prime Minister Jacinda Ardern with staff at All Things Organic in Tairua, Gina Easton, Emily Ryan, Xanthe Cottier-Hall, Natasha Woolley, Zoe Bourne. Photo / Provided

“It was a wonderful surprise,” shop owner Gina Easton told the Herald.

“We have heard he has visited a number of Tairua cafes. But it is still a pleasant surprise to see him and he has chosen to visit our shop.”

It was one of the shop’s busiest days and Easton said Ardern’s visit added to the excitement at the end of the year.

“It was one of our busiest days of the year. We were all happy to see him – there was a little bit of nervousness serving him and ordering ice cream. He was very easy to talk to and very happy to have a photo with our staff. Glad he looked down on so much of our business in here in Tairua, “added Easton.

“He even shows up behind the desk for a ‘quick shift’ and takes photos with the staff.”

Later that day, Ardern posted a photo of the New Year’s Eve fireworks display from Tairua to her Instagram account, admitting she doesn’t often stay up late these days.

“It’s not often I stay up late to see the new year on these days (not since we had babies) but this year, I want to make sure I look back on 2020,” he wrote.

“To everyone who helped us through this year, thank you. Despite the many challenges ahead, I feel more confident than ever that we are all ready for it. Happy New Year Aotearoa!”

Those who saw the Prime Minister in town said he kept a low profile.

A tourist said he saw him wearing a large floppy hat and sunglasses in Tairua.

“It was seen how nobody noticed him in town yesterday. He was walking around, chatting on his phone, with two very unobtrusive Diplomatic Protection Service (DPS) people behind him.

“I only noticed when I was riding behind them (on the bike) and looking at their earplugs, I commented to one of the men as he was standing outside Four Square while he was chatting on the phone … ‘only in New Zealand eh?’ she said ‘too true’, “

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Why is Vintage Fashion so Expensive? > Vintage Clothing> Fashion | Instant News


by Dana Andersen.

Published
Sunday 17 May 2020 12:06


More pictures available. See the gallery

Vintage fashion is recommended for everyone, from saving the planet, to finding your own style, but once you start searching for vintage parts, you may be overwhelmed with new questions. Why so expensive? T-shirts that cost maybe less than £ 10 when they were initially sold, were suddenly marked up to £ 50, and the skirt that fits in is definitely not worth £ 75, right?

Like most things, it depends on where you shop. Great vintage inventions can occur in car boot sales and charity shops, and only cost a pound or two, so why are they sold by vintage shops, who might find them in the same scenario, their price tags increasing so dramatically? There are several reasons behind it, the big one is how most online stores treat the clothes they find.

The pretty dress that you are trying to justify £ 60, may not start so beautifully. Many vintage clothing boutique owners find their products in poor condition. The process between ‘old clothes found in a musty attic’ to ‘beautiful items you need to try’ can be very difficult, making you pay for time, and materials, used to repair it, the original cost of the item, and a little extra so that the store is right really make a profit.

Most stores clean every item they buy, which has added time, and cost, to that item. It must be washed in the right way, to ensure no further damage, it usually means dry cleaning. Then, any damage to clothing in 10+ years of life needs to be repaired. Buttons, coatings, seams, whatever is damaged need to be repaired in a way that still feels original to the item, and will not be obvious to buyers. This again takes time for whoever does it, and adds to the money spent on the item.

Many old shops and boutiques buy their goods from other countries, many shops in the UK buy from America. The price per item is usually lower, but the additional price of shipping the item means that each item must get a little more profit. American Vintage clothing also has an additional amount of ‘trendy’, making it more valuable to buy from there, and sending it, because it can automatically be sold at a higher price, making more profit.

Finally, branded goods also have a large impact on prices. If you like to wear clothes without brands, or clothes from unknown and forgotten brands, the price will be much lower than if you are a big fan of Dickies, Gucci, or Channel.

If you want a cheap vintage shopping experience, you will look for items that have not been cleaned, haven’t been repaired in any way, and are not known brands. That means you have to do those things yourself, which adds to the time you have to spend on each item, and maybe additional costs for additional materials to repair the items, but it significantly decreases the money you will make. pay

Antique shops and boutiques have high price tags for a reason, and although it’s fair to say that not everyone can afford that price, it’s easy to understand why their prices are in that price range, once you know the work behind them scene.

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The current COVID-19 pandemic has many similarities with the Spanish Flu Pandemic of 1918-20, and many differences | Instant News




Today’s COVID-19 Pandemic Has Many Similarities to the Spanish Flu Pandemic of 1918-20, and Many Differences Also | RiverBender.com





















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Sino-Global appoints Mr. Kelin Wu as Head of Marketing | News | Instant News


Roslyn, New York, April 27, 2020 / PRNewswire / – Sino-Global Shipping America, Ltd. (NASDAQ: SINO) (Sino-Global “, that is Company “or we “), a provider of integrated logistics shipping solutions and global non-asset based shipping, today announced that they have appointed Mr. Kelin Wu to the newly created Chief Marketing Officer position, where he will lead the Company’s global marketing programs and strategies. He will report directly to CEO Lei Cao.

Mr. Wu was previously the founder and major shareholder of Mandarine Ocean Ltd, (Mandarine Ocean“), A Shanghai, China registered shipping company registered at Marshall Island. Sino-Global recently signed a share purchase agreement in which the Company obtained a majority position of 75% in Mandarine Ocean. Mr. Wu has extensive experience in the sea transportation services business, having served as one of the upstream clients of the Sino-Global light asset logistics service.

Before founding Samudra Mardarine, Mr. Wu, 45, served as General Manager of Shanghai Vasteast Int’l, the owner and operator of the ship. Wu graduated from Shanghai Maritime University and earned a Masters degree in maritime law.

With the addition of Mr. Wu, Sino-Global hopes to increase its lightweight asset delivery service business while expanding further upstream to customers in the shipping logistics value chain.

Lei Cao, Sino-Global Chief Executive, stated, “We are very pleased that Kelin has agreed to join the Company’s senior management team as Chief Marketing Officer. He is a dynamic and highly experienced executive whose leadership, insight, market expertise and creative approach will very valuable as we move to the next stage of development for Sino-Global, throughout our discussions around the share purchase agreement with Mandarine Ocean, we were impressed with Kelin’s knowledge of the entire logistics and shipping market. We all agree that Sino-Global will benefit from specialized marketing executives who can help improve our brand recognition and status as an outstanding logistics solution provider worldwide. “

Mr. Wu stated, “I am very happy to join Sino-Global at a time where having a strong and recognizable presence in the global logistics market is crucial for success. Because China starting to shift from the COVID-19 pandemic, we look forward to working together to make the Company a clear leader in the transportation and logistics industry. “

About Sino-Global Shipping America, Ltd.

Found in United States of America in 2001, Sino-Global Shipping America, Ltd. is a company engaged in shipping, leasing, logistics, and related services. Headquartered in New York, Sino-Global has an office in Los Angeles, Mainland China, Australia, Canada and Hongkong. CompanyCurrent service offerings include shipping agent services, shipping and chartering services, land transportation management services and ship management services. Additional information about Sino-Global can be found at the Companycompany website at www.sino-global.net. The company regularly posts important information on its website.

Forward Looking Statement

No statement made in this press release must be interpreted as an offer to buy any security. Such offers can only be made in accordance with the Securities Act of 1933, as amended, and applicable state securities laws. Any statement contained in this release relating to plans, events, or future performance is a forward-looking statement that involves risks and uncertainties as identified in the Sino-Global submission with the Securities and Exchange Commission. Actual results, events or performance can differ materially. The reader is warned not to place undue trust in this forward-looking statement, which only speaks as the date of this agreement. Sino-Global is not obliged to publicly announce the results of any revisions to this forward-looking statement that can be made to reflect events or circumstances after the date of this agreement or to reflect the occurrence of unanticipated events.

Contact information
The Equity Group Inc.
Adam Prior
Senior Vice President
(212) -836-9606 / [email protected]

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