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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.