Property sector “hammered” by COVID-19

Australian Broker –

While many sectors of the economy have received direct governmental aid to see them through the COVID-19 induced economic downturn, an overlooked segment of the property market has been brought to attention by the CEO of a property developer advocacy group.

As put by Urban Taskforce CEO Tom Forrest, contract law has been “flipped on its head” with commercial property lessors now responsible for bearing the financial stress of their tenants, a shift which carries unknown longer-term implications.

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