Potential Impacts of COVID-19 on EMEA Real Estate
We remain steadfast in providing timely insights and expertise during this unprecedented time.
The COVID-19 outbreak is moving quickly, with a growing impact across the globe.
That's why CBRE’s #COVID19 resource center gives perspective on the evolving situation and implications for the real estate industry.
For more information visit >> www.cbre.com/covid-19
CBRE expects COVID-19 to have a negative short-term and medium term effect on the commercial real estate market in Europe, provided the outbreak is brought under control in a reasonable timeframe.
Initially, restrictions on travel and the movement of goods between the European region and China was the main concern with regards to relying on supply chains and tourism. With the spread of the virus rising in many parts of Europe, governments and companies are encouraging measures that limit social interactions. Essential travel and remote working policies have become the norm in the corporate environment. European governments tightened borders to contain the virus spreading; the US implemented a travel ban from inbound European travellers.
The European Central Bank (ECB) and other central bank’s accommodative approaches to monetary policy suggests the low interest rate environment is likely to continue for longer. In addition many governments have triggered further fiscal easing. The combination of the two should support many economies through what may otherwise be a much sharper hit to economic growth.