The brick and mortar industry, a traditional safe haven for investors even during times of otherwise negative low interest rates, has rolled into 2021 ready for structural change, not necessarily provoked, but accelerated by the pandemic.
PwC and The Urban Land Institute published their 18th edition Emerging Trends in Real Estate® Europe. Out of the nearly 1,000 respondents from 25 countries 71% are looking to repurpose assets and expect impact investments in the market in the coming years. Levels of confidence are lower compared to 2020:
For the time being investors are flocking to safety, targeting domestic urban centers and sectors least impacted by the crisis, such as logistics and residential, but also data centers, energy, infrastructure and life science facilities. As opposed to the 2009 crisis, however, money is available and eager to change hands - Vienna is still a pillar, with Bucharest and Warsaw maintaining rising positions.
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