Savills has reported performance at the “upper end” of expectations, boosted by strength in the UK and Asia.
In a trading update ahead of its year-end results, the agent noted strength in the investment management division.
Savills said consultancy and property management in the UK were areas of notable performance, whereas commercial transactions and leasing were “significantly impacted by the pandemic”.
The agent said performance had picked up in Q4 with some of the largest transactions ever seen in the UK and a rebound in UK prime residential, largely in regional cities.
Asia Pacific exceeded expectations, with mainland China market recovering quickly from the first lockdown. Elsewhere, its North America business saw leasing drop by 40% year-on-year and Europe and the Middle East also reported a decline.
Savills will release its full-year results on 11 March.
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