CBRE EMEA Research conducted a flash survey of over 250 occupier clients to assess the industry response to the COVID-19 outbreak. Key points:
-The majority anticipate further short-term deterioration in the business environment, over 70% expect revenues to contract this year.
-Remote or home working is the most widespread workplace measure implemented (86%) since the outbreak.
-Leasing activity has been disrupted or delayed for over 80% of companies.
-Over 50% have held discussions with landlords about aspects of their existing lease agreements, but only about a third have been offered any relief measures.
-Where occupiers highlight the scope for longer-term shifts in strategy, these are predominantly around an increase in home working (90%) and the technology investment necessary to support this (88%).