The COVID-19 pandemic continues to cause multiple disruptions to the world’s industries and economies and this is also true for many CEE currencies. Those countries that have not adopted the Euro, or are not pegged to it, have each seen a ca. 10% depreciation in currency value during the period February to March 2020. The Romanian Leu is the exception which has depreciated just 1%, largely due to central bank intervention, Colliers reports in its CEE Special Insights Series.

Governments in the region keep introducing economic aid packages. Property Forum’s daily summary looks at the measures taken to ease the impact of the COVID-19 crisis on households and businesses.

Erste Bank Group anticipates an economic slowdown for 2020 in most CEE countries due to the coronavirus situation. The bank’s report mentions a negative scenario as well, which would result in a massive recession in the region.

Savills has entered into a partnership with the owner of Vipol Plaza and has been acting as a sole letting agent for the office complex since early 2020. The property is located near the new section of Warsaw’s second metro line.

Despite exceptional circumstances, Atenor is continuing its operations with the same drive and announces that a building permit application for its first project in Warsaw has been submitted by Atenor Polish subsidiary, Haverhill Investment Sp. z o.o.

The COVID-19 crisis continues to evolve rapidly and several governments in the markets in which Unibail-Rodamco-Westfield (URW) operates have taken measures to contain the spread of the virus. These measures will impact the Group’s operations, according to URW’s statement.

Austria’s economic growth curve is set to follow a V-shaped course in the wake of the coronavirus and the containment measures implemented, according to Bank Austria, a member of UniCredit Group.

Skanska has sold the Generation Park Z office building in Warsaw to Deka Immobilien for €98 million. This is the buyer’s fourth acquisition with Skanska in Central and Eastern Europe.

The German federal government plans to set up an economic stabilization fund (Wirtschaftsstabilisierungsfonds, WSF) to prevent companies from going bankrupting during the coronavirus crisis, according to the new draft bill of the finance minister.

In our interconnected world, significant disruptions underscore the need for resilient supply chains. The risks posed by COVID-19 to economic growth would likewise affect real estate in the near term; on both counts, the magnitude is yet unknown. Still, structural trends point to resiliency for logistics real estate through this period and beyond, shaping both the fundamental and investment landscape, according to a new report by Prologis Research.