Our latest European Commercial Real Estate 180 report has just been released, covering the economic outlook and real estate position across Europe.
The key messages of the report are:
- In the Eurozone, governments were forced to maintain or tighten health restrictions as cases rose again. The timing of the recovery will depend essentially on the effectiveness of restrictive measures and the acceleration of vaccination campaigns. In Europe, the main recovery should be in H2 2021.
- Investment decreased 34% over the last 12 months compared to the pre COVID-19 period. However it should see improvement in the next quarters as the pandemic comes under control.
- Office take-up shrank 22% relative to Q1 2020, which was not subject to COVID-19 restrictions. However, first signs of improvement compared to the end of 2020 were seen in some European markets.
- Vacancy rose 130 bps on average in Europe’s 28 main markets. However, it remains low in the most central sub markets and is mainly the consequence of the release of second-hand buildings.
Download the full report below.
