Commercial real estate markets in the U.S. and China are economic pain points to monitor in a higher-for-longer rate environment, said Singapore's United Overseas Bank.
But the bank remains optimistic about one key region.
"The U.S. commercial real estate remains a hotspot, especially with the low occupancy rates that we have," Lee Wai Fai, chief financial officer of UOB told CNBC's "Street Signs Asia."
"The other hotspots will be China, there [are] worries about the quality and whether they can manage the property uncertainty in China," he added.
Lee added the world is heading into a more "uncertain environment" and the impact of higher-for-longer interest rates is starting to filter through the economy.
Persons:
Lee Wai Fai, UOB, CNBC's, Lee
Organizations:
Singapore's United Overseas Bank
Locations:
U.S, China