• Some sectors of the real estate market impacted more than others by sudden onset of Covid-19 and subsequent lockdown
  • Strong Q1 in most sectors with true impact of Covid-19 becoming evident from Q2 - transaction volumes in all sectors impacted to some degree & most sales campaigns postponed
  • Collaboration between landlords, tenants & financiers critical while further Government support for trading businesses is clearly now necessary
  • Lack of transactional activity will pose challenges from a pricing perspective
  • Retail rents and land prices likely to come under pressure in the medium term
  • Yields for ‘core’ product stable but ‘core plus’ and ‘opportunistic’ more susceptible to a potential outward move over the coming months
  • Shutdown of construction sites insulating the market from threat of oversupply that typically is a concern in a downturn
  • Rebound in activity expected during H2 2020, led initially by the investment sector but will take longer for occupational markets to rebound
  • Office, industrial & logistics and residential likely to be the most sought after sectors from investment perspective
  • Depth and duration of the pandemic will dictate the extent to which the real estate market is impacted but the ‘new normal’ will be very different in all sectors of the market