Special Guest: David Bailin, CIO at Citi Private Bank, on global politics and property
In our latest global episode, we hear from David Bailin, Chief Investment Officer at Citi Private Bank, on his take from the US on how international property markets will fare post-Covid.
1 minute to read
David and Anna were also joined by Flora Harley, an Associate in our Residential Research team.
David Bailin: “These protests and social issues are happening at a time when we have literally more than 39 million Americans unemployed and I do believe these things are feeding into each other pretty significantly. We are going to see a particular shift in the use of real estate in different sectors, so from an investment standpoint I’ll have one opinion but from an owner standpoint I’ll have another. The most stressful area is going to be in retail, we’re seeing some very significant data to suggest that everything from local retailers to big box retailers are going to have significant trouble adjusting to the new market and very significant vacancies and for owners very significant rent impacts.”