Starting anew: Creative destruction and finding value in the pandemic
When the UK and other European countries followed Italy into lockdown last March, there was not much about day-to-day life that did not seemingly change completely overnight. From commuting into the office on a daily basis and visiting cafés and restaurants with some regularity, we were suddenly all homebound with essential retail becoming the extent of our travels.
While some of this shock was short-lived or quickly absorbed, other changes have proved more long-lasting. The impact of this can be seen in figures from the European Commission reporting that the European Union’s GDP was thought to have contracted by 7 percent in 2020, while the UK’s decreased by 10 percent, according to Capital Economics. For those looking to invest in European real estate, this could pose an intimidating and confusing overall picture, but with the right approach, we see a far more promising vista.
It can be hard to see beyond a crisis when you are still going through it, but there a