Data for Q3 confirmed that while some office and industrial markets in the region recorded quarterly rental falls, weakness was still unsurprisingly concentrated in the retail sector. Core-CEE retail rents have now fallen by 15% so far this year, far exceeding the decline in the rest of Europe. Looking ahead, while a potential vaccine could accelerate the economic recovery in 2021, the latest virus restrictions in CEE are expected to weigh on economic activity in the near-term. As a result, a sharp rebound in property values across the sectors over the coming quarters seems unlikely.
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