The COVID-19 crisis has undoubtedly led to a worldwide economic slump of historic proportions.
But let us not forget that the drop has been so great because we had previously climbed to historic peaks in many European countries. This especially applies to developments in the real estate markets. At the beginning of 2020, Europe's core markets had experienced a decade of almost continuous increases in purchase prices, rents and transaction figures — a golden period, in other words. The question is whether this period has now finally come to an end, or the COVID-19 pandemic has created only a temporary blip, which will be followed by another seamless stretch of real estate success.
That, of course, depends first and foremost on how the fight against the virus continues — something that cannot be predicted at this stage. Nevertheless, we should consider what the main drivers of the recent boom have been in order to catch a glimpse into what the future holds.
Th
