When the coronavirus pandemic forced shops to shutter and office workers to stay at home, real estate investors were braced for the worst. Yet as economies have adjusted and adapted to the pandemic, fears of a collapse have subsided.
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Commercial real estate values in the US and Europe are now more than 1% higher than their pre-pandemic levels, according to Green Street Advisors’ Commercial Property Price indices.
Part of the reason the overall market has remained resilient to the economic strains of Covid-19 is that it came into the pandemic in relatively good shape, says Mat Oakley, director for European commercial real estate at Savills – winner of 13 categories in this year’s Euromoney Real Estate Survey, including best overall advisers and consultants and best overall developers for western Europe.
Global real estate values have survived what is a one...
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