Impact of the pandemic
The coronavirus pandemic has shaken the real estate industry. The mass exodus of the country’s workforce from offices and city centres during multiple lockdowns is poised to have a lasting effect.
The UK Real Estate market has undergone a huge upheaval over the past 12 months. We interviewed over 300 industry experts from across the UK to find out how this tumultuous year has impacted the sector and what they predict the defining trends will be over the next few years.
With an evolving relationship with the EU and the prospect of a 'new normal' to embrace, the real estate sector will experience significant change in the coming year and beyond. As the industry continues to address issues such as sustainability and the changing use of space driven by new consumer behaviour there are plenty of opportunities for investors, landlords and tenants to effect positive change in local communities, while also satisfying the needs of financiers.
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The coronavirus pandemic has shaken the real estate industry. The mass exodus of the country’s workforce from offices and city centres during multiple lockdowns is poised to have a lasting effect.
For the first time in this survey’s history, London’s commercial Real Estate market is seen to be on a level playing field with the regional market. Investment in infrastructure will ensure that these regional gains are not lost in the long-term.
When the economy begins to recover in earnest and the outlook becomes clearer, property investors with cash to spend will return to the market. As we adjust to our changing relationship with the EU and European nations, maintaining foreign investment levels is crucial.
Leisure, hospitality and in-store retail have been badly hit over the past year as they were repeatedly told to close. As the pandemic accelerated the trend towards online outlets, industrial and data centre assets are poised to reap the benefits.
Many of the trends that began this year will have major repercussions on our lives for years to come. However, the Real Estate sector has an opportunity to make a real difference to society. Whether it be by providing first class places to work and live, or by playing its part in the fight against climate change.
