Even in the midst of the COVID-19 pandemic, the real estate market has proven to be an anchor of stability. Competition for high-quality business in the preferred asset classes has even increased somewhat.
It is not possible to predict what impact the two lockdowns implemented to date will have on the real estate market, especially given the fact that the real estate market always reacts to overall economic developments with some delay.
The launch of a vaccination campaign does offer hope here, but it is not yet possible to predict how long the vaccination process will take. The achievement of herd immunity is one of the preconditions for ensuring that the economic upswing analysts expect to occur in the spring of 2021 will not be stifled by a new wave of infections. The extensive economic assistance packages implemented by the government are also helping to keep the economy moving. We can expect that most companies will be able to gradually return to business volume at pre-crisis levels once the economy as a whole begins gathering momentum again.