COVID-19 considerations for the UK real estate sector
Guidance for real estate executives in the United Kingdom
COVID-19 has caused unprecedented disruption over the past few months, hitting Europe and the US with a vengeance in the middle of March. Few aspects of the economy have been left untouched, with retail, travel, hospitality and leisure particularly badly hit by lockdown measures.
While the UK has not implemented the strict measures seen in other countries, demand has dropped precipitously in all sectors, even before the Prime Minister announced ‘social distancing’ for all, and extended self-isolation to 12 weeks for some of the population, on March 16.
In this report, Deloitte UK looks at how the real estate industry has been affected, sector by sector, and takes a view on the longer-term implications.
Written by Deloitte UK.