As most countries across Europe are witnessing a resurgence in COVID-19 cases, many are now instituting new restrictive measures with the prospect of lockdown 2.0 for some. These restrictions could in turn, jeopardise the strong economic recovery still expected in 2021.
The drop in total commercial real estate investment volume in Europe is expected to be significant in 2020 (circa -34%) yet it will remain at pretty high historical levels even with that fall. Office take-up is deeply impacted even if the best locations show resilience in terms of vacancy and values. Meanwhile, the retail industry is holding its breath during the second wave whereas other markets like logistics are remarkably resilient.
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