The first three months of 2021 have been buffeted by further uncertainty generated by the third wave of the Covid-19 pandemic and problems with the vaccination rollout. According to figures compiled by BNP Paribas Real Estate, the volume of direct investment in office, retail, logistics, hotel, residential rental, and alternative assets between January and March stood at 1.845 billion euros.
This figure represents a decrease of 32.9% compared to the fourth quarter of 2020 and 45.1% less compared to the same quarter of 2020, a pre-covid period and “not comparable to the current market situation”, according to the consultancy.
Excluding investment in the residential rental market, volumes fell to €1.105 billion for Commercial Real Estate (CRE) up to April 1, the sector that has had the greatest impact on the decline in investment, with a particular effect on retail.
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