But as businesses look towards cutting costs, Cromwell European Real Estate Investment Trust (CEREIT) has interestingly bucked this trend with a positive rent reversion of some 12.1% for 1Q20 ended March. This comes mainly from e-commerce operators requiring space to store their goods amid disrupted global supply chains that have dented the flow of goods across borders.
SINGAPORE (May 22): Like many countries in the world, several European nations have imposed strict lockdowns curbing the movement of people and goods between March and May. The move, which has contributed to a 3.8% decline in the GDP of the region, is a bid to halt the spread of the coronavirus pandemic.
Business owners have since been feeling the pinch with several companies offering non-essential services shuttering operations. And this has shown up in the European Commission’s Economic Sentiment Indicator — a metric on business confidence which registered its strongest monthly decline of 27.2 points in April.
