That is the combined verdict of over 840 people so far who have responded to the PropertyEU/NL Market Barometer in the face of the coronavirus pandemic.

Key findings to date include that over 90% of professionals across Europe have currently switched to working from home.

The majority also says Covid-19 has made their day-to-day tasks and responsibilities more challenging, rating it as a '7' on a scale of  1 - 10 (10 being incredibly challenging).

When asked how concerned they are about the impact upon their jobs and/or firm, they rate it a ‘7 out of 10'.

Though there has not (yet) been a complete halt to fresh investments or transactions, there has been a marked slowdown. The data shows people rank it 4.5, with 0 being a complete shut down and 10 being completely normal activity.

Less than 1% of people are ‘extremely confident’ in the positive performance of real estate in 3 months, just 1% in 6 months’ time, only 6% for 12 months' time, and 21% in +12 months.

But real estate professionals are either ‘very confident’ (32.3%) or ‘somewhat confident’ (38.5%) in positive real estate performance in 12 months, suggesting expectations of a bounceback in a year.

Asked about confidence levels of positive performance of real estate in 6 months, 17.7% said they were not at all confident, 36% said they were not so confident, 34.8% said they were somewhat confident, 10.3% very confident and 1.1% extremely confident.

Most pressing concerns
Europe’s real estate professionals have shared with us a variety of pressing concerns.

When asked about their main worry, responses ranged from the ‘potential for global economic recession’ and ‘unemployment among residential tenants’, to ‘transactions lagging’, ‘managing the impact upon assets’, ‘liquidity’, and inability to travel in order to discuss deals.

Some named funding and rental contract breaches as their most pressing concern. Others said they are most worried about having to return money to clients, not being able to conduct site visits, impeded construction, total shutdown of stock markets, the hit on tourism, cash flow issues, preserving jobs, short-term valuation hits, raising equity for investment funds, no more fund launches, the health and welfare of staff, managing reduced fee income versus payroll costs, and the closure of owned shopping centres.

The PropertyEU Market Barometer is still open, with the number of respondents climbing all the time. We endeavour to bring you further insights as the crisis unfolds.

To take part, click here. 

PropertyNL and EU founder, Wabe van Enk, and Robin Marriott, PropertyEU editor-in-chief, said, 'We have noticed that there is a great need for real estate professionals to share their experience and judgement in these uncertain times. As journalists we are in contact with the most important parties, but it is precisely in a crisis that the adage is that many know more than one. That is why we started this European Market Barometer.'

We thank you for sharing.