For the past 2 years, Covid-19 has heavily impacted the value of commercial property. For the 10 largest countries in Western Europe, commercial rents fell sharply. Here is a summary in figures from Marina Lavrov, Director A&T Retail at CBRE.
What is the state of commercial property in Europe after two years of crisis?
Marina Lavrov: Shopping centers suffered the most, as they have high costs and closed for longer. On average, rents fell by 19% between the end of 2019 and the end of 2021, with falls of 28% in Barcelona and Madrid, and down by 23% in London. In retail streets, European rents fell by an average of 16%. Retail parks, on the other hand, did not experience a decline and occupancy rates were stable.
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