• This quarter ended with cautious optimism owing to the approval of vaccinations against COVID-19.
  • There has been a moderate decline in prices against the background of a slowdown in the pace of activity in the real estate market.
  • There has also been a slowdown in construction starts of commercial real estate.
  • During this quarter, the yield on logistics assets continued to decline in light of growing demand.
  • There has been an increase in the yield on retail assets due to uncertainty regarding future cash flow.