The ongoing COVID-19 outbreak seems to be having a severely negative impact on market sentiment across the CEE region, according to the latest RICS Commercial Property Monitor. Q1 2020 figures show that both rental and capital value expectations have been downgraded across the region with retail expected to see the sharpest decline and industrial proving to be the most resilient asset class.

The coronavirus outbreak continues to affect people and economies deeply. In the latest online panel organized by Property Forum, three real estate professionals discussed the impacts of the coronavirus crisis on the Bulgarian property market.

The office market in Sofia faces a significant slowdown, due to the economic uncertainty and weakening business activity caused by COVID-19, according to the latest market report of Forton, a strategic partner of Cushman & Wakefield for Bulgaria and Macedonia.

Property Forum’s series of virtual events, organised in partnership with the RICS, continues with a free online panel discussion providing a market update for Bulgaria. Attendance is free but registration is mandatory.

The construction industry seems to have been relatively less affected than some other industries (like tourism) as most large projects continue during the lockdown measures across the region. The Eastern European Construction Forecasting Association has published a COVID-19 update on the construction sectors of Bulgaria, Croatia and Slovenia.

Ever since the World Health Organization declared a pandemic caused by the COVID-19 virus, our lifestyles and the way business is done have changed completely worldwide. Although the end of the several-week-long isolation is close, it is quite certain that this period will have its effects on many aspects of life. This is also reflected in the results of a major survey recently conducted by a leading real estate consultancy CBS International, part of Cushman & Wakefield Group, called "Traditional Office vs. Home Office in a Changed Business Environment". The survey involved 250 domestic and international companies from different industries, based in Serbia, and the results comprehensively illustrated how COVID-19 affected and will affect their business in the future.

Even though it is too early to estimate precisely, the pandemic of COVID-19 will certainly have an impact on the global economy and, the probability of a global recession in 2020 is considered high. It appears that we will witness consecutive declines in global and regional GDP in the current and next quarter of 2020.  CBS International, a member of Cushman & Wakefield Alliance, summarized the potential implications of the COVID-19 crisis on the Serbian property market.

Colliers International launched a SEE and Baltics Infographic Pack to track the ever-changing situation across these countries and property markets.

As part of the fight against the coronavirus, many firms have decided to temporarily cease their production to ensure the health of their employees.

Many market players, especially those working in industrial and office, expect a swift return to business as usual in the third quarter. Andy Thompson, Director of Czech & Slovak Capital Markets and Tewfik Sabongui, Managing Partner for the Czech Republic shared Colliers International’s expectations for the coming months.