International property consultant Knight Frank is reporting that Portugal, along with Spanish and Greek islands, have been declared safe for UK residents to travel to by the Foreign and Commonwealth Office (FCO). This comes after the European Union announced that it will open its door to vaccinated travellers from the start of June 2021.
International property consultant Knight Frank is reporting that urban house prices globally increased by 5.6% on average in 2020, up from 3.2% in 2019.
The annual rate of home price growth (worldwide) increased between Q2 and Q3 2020, from 4.1% to 4.7%, and 18 international cities saw prices rise by more than 10% year-on year, up from 16 in Q2 2020.
Much weaker commercial real estate investment volumes in the second quarter of 2020 reflect the impact of lockdown measures and border controls enacted to combat the COVID-19 crisis.
While early signs of the impact of the Covid-19 pandemic on rental prices were already noticeable in the first quarter of 2020, the effects of the travel ban, which was valid from mid-March, are now fully visible.
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