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Emerging Europe: No respite for rents just yet

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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