Pandemic sees marginal decline in returns on commercial real estate MSCI/SCSI annual index down by just 0.5% in year to December 2020 with retail hit hardest
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While Covid-19 continues to pose a significant challenge to the economy generally, the performance of the commercial real estate sector is proving to be surprisingly resilient, judging by the findings of the new annual property index compiled by MSCI in conjunction with the Society of Chartered Surveyors Ireland (SCSI). The index, which traces unlevered total returns of more than 490 commercial property investments with a total capital value of €10.4 billion, was down by just 0.5 per cent in the year to December 2020, notwithstanding the severe impact of the pandemic. This marginal decline in performance comes off the back of six consecutive years in which the index showed strong positive results.
The Pitfalls Of Buying A House In A Pandemic
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Many people in their 20s and 30s fear they will never be able to buy their own home, and it has become especially difficult during the pandemic.
Alison Healy, Today FM s Head of Digital, tweeted about her own experience of trying to buy a house:
Trying to buy a house in a pandemic?
Enjoy insane bidding wars between you and 12 other parties (TWELVE) who have never even set foot in the house resulting in offers going in at €70,000 () over asking.
This has honest-to-gaff happened 3 times in the last week pic.twitter.com/rZ15Ogh9Bu
Dublin City Council faces six-year wait for start of housing construction on its sites irishtimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from irishtimes.com Daily Mail and Mail on Sunday newspapers.