Only weeks ago, I was giving talks in which I argued that the real estate sector could be about to enjoy the 'Roaring Twenties'. In view of the dramatic challenge we now find ourselves facing in Germany, where I'm based, and in many other countries, this seems absurd and even cynical.

The number of people infected with the coronavirus is growing by several thousand each day. Social life in many parts of the world has largely come to a standstill and the economic projections are bleak. Naturally, all of this will be felt in the property markets.

So, is the prospect of the Roaring Twenties already over before the decade has even properly begun? Certainly not. While the virus may remain, we will overcome the associated crisis, severe as it may be. After weeks or months of social isolation, we may well explode with a zest for life and the world could be a better place. It will definitely be a different place as such a profound crisis will change the course of things.

As with every crisis, the current situation will, in time, bring opportunities. This also applies to the real estate sector. Here are just a few examples.

The type of space that companies require could fundamentally change, producing huge needs in terms of fit-out, advisory services and development projects. Resilience, wellbeing and sustainability are probably important keywords here.

Another example: once the pandemic has been overcome, the desire for 'real-world experiences' could result in a boom in restaurants, experience retail and cultural and leisure amenities. These occupiers, too, will require suitable space and consultants to support them with their expansion.

E-commerce has already been popular in the UK, the Netherlands and Germany but it is getting more popular in the south of Europe, such as Spain and Italy, which in turn means that requirements for logistics space may increase further.

There will be many more examples all of which illustrate that while the 2020s are starting with a storm we will weather it and emerge the other side.

Further information

Read more: Savills Covid-19 Resource Hub