Transactions to return to pre-pandemic levels by 2022
Investment volumes in Europe are expected to return to pre-pandemic levels by 2022, according to CBRE’s EMEA Real Estate Market Outlook 2021.
Should a widespread vaccination programme emerge and lockdowns ease, CBRE predicts that GDP for the euro zone will contract by 7.3 percent in 2020, before recovering by 4.6 percent in 2021. The adviser also believes that aggregate European commercial real estate investment will fall by 25 percent in 2020, increase by between 5 percent and 10 percent in 2021 and return to pre-COVID norms by H2 2022.
“Quite clearly 2020 has been a year of enormous disruption for real estate markets, with the COVID-19 pandemic bringing the previous economic cycle to an abrupt end,” says Jos Tromp, head of research, continental Europe, CBRE. “As with all crises, the impacts and recovery will not be uniform across all sectors and geographies, but new opportunities will emerge, and the likely introduction of vaccines offers grounds for