The full impact of the COVID-19 pandemic was realised across Europe in the second quarter of the year as the region’s real estate investment fell 39% to €43bn from the same period last year, according to CBRE.
The latest data from the global real estate advisor has shown that total real estate investment in the second quarter of 2020 was also below the €85.5n recorded in the first quarter of the year.
The strong first quarter of 2020, which recorded a 52% rise over the first quarter of 2019. was driven in part by a lag effect from the previous quarter, with many large deals that were initiated in the latter part of last year, completing at the start of this year, CBRE said.
For the first six months of the year, investment volumes in Europe rose 2% to €129bn from the same period a year earlier, CBRE said.
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