The Impact of COVID-19 on Commercial Real Estate

Tuesday, May 18, 2021 at 14:00-15:30 Vienna time (CEST)

Introduction and Moderator
Mr. Reiner Martin, Lead Economist, Joint Vienna Institute

Panelists
Mr. Andrea Deghi, Financial Sector Expert, International Monetary Fund
Ms. Ellen Ryan, Financial Stability Expert, European Central Bank


The COVID-19 crisis has hit the global and European commercial real estate sector hard and increased uncertainty about the outlook for some of its segments due to possible structural shifts in demand. While there was little evidence of large price misalignments at the onset of the pandemic, signs of overvaluation have now emerged in some economies. Such misalignments increase downside risks to future growth due to the possibility of sharp price corrections, especially if they interact with other financial vulnerabilities. Such corrections could threaten financial stability and hurt corporate investment, hampering economic recovery. 

Against this backdrop, the webinar will review and discuss global and European commercial real estate developments more than one year after the start of the pandemic. What are developments in commercial real estate prices so far? Are there indications for structural shifts in the demand for various types of commercial real estate? How should public policy react to these developments?

Participants are encouraged to ask written questions to the presenters using the webinar’s chat forum.

The webinar will be held in English.

To participate in the webinar please sign up here.

A list of JVI webinars on topical issues in the field of financial stability, fiscal policy, and macroeconomics can be found here.

The schedule of JVI courses—including virtual courses—can be found here.

We look forward to continuing our engagement with you!

Hervé Joly, Director (JVI)

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