Introduction
Considering the extent of COVID-19's impact on the global economy, let alone the European property market, it was imperative that we update our Market Outlook report which launched at the end of 2019.
The previous cycle, marked by record investment and development, has ended abruptly due to this black swan event. The occupier side in particular has been severely impacted by a decline in economic activity. Nonetheless, the continued low-interest rate environment coupled with ample unallocated capital means the market is well-positioned for a bounce-back.
The commercial real estate industry now faces unprecedented questions. For example, with occupier market performance slowing, will this mean lower returns and investors subsequently turning to sectors better placed to withstand short-to medium term pressures?
What COVID-19 has highlighted is that change is coming quickly. We are here to guide you through these times of uncertainty and point you towards opportunities that these changes will bring. Enjoy your summer.
Jos Tromp
Head of Research, Continental Europe;
Head of Thought Leadership and Data Strategy, EMEA