Establishing where real estate markets are at as a result of the global pandemic has been challenging. The initial and very deep ‘lock-down induced’ economic and market shocks that have been endured globally have been followed by a swift return to growth over the summer months, almost universally.
Despite the threat of a rise in the R-rate driving localised market lockdowns, the fog is lifting and the impact has been largely as expected. That doesn’t mean we’re back to where we were, by any means, as COVID-19 has accelerated numerous structural trends that were developing before the pandemic:
- Agile working
- Omni-channel retailing
- Digitisation of commerce and consumerism
- Greater adoption of ‘Proptech’ to manage assets and portfolios
It will take years for some ‘traditional’ elements of our economies to get back to par, if ever, with business sectors, real estate asset types, city and national markets recovering at different speeds and in very different ways. With this in mind, our report outlines investment opportunities and recovery timing by sector and location for 2021.