legal trends magazine
TRENDS Legal Magazine – Real Estate No 6 (June-July 2021)
Real estate begins its “new normal” post-pandemic in those countries that can be said to be in this situation. The world is moving towards a situation of unprecedented health inequality, with a frightening difference in the supply of vaccines between European, North American, Latin American, and African blocs. While in some countries an opening towards normality is clearly in sight, there is no solution in the short term for countries such as India or many of those located on the African continent where vaccines are not arriving. The effect on the markets is devastating for these countries and encouraging for others.
Real estate operations are no stranger to this unequal situation. In this issue we receive input from different countries regarding the status of real estate post pandemic. Operators agree that this pandemic could change the way we live, the way we work and travel and, of course, the way the consumer behaves.
Is it time to assess the impact or to position quickly? It will depend on the cash flow: Cash is King. Is telework here to stay? And what is its real effect on the office market? There is no doubt that retail has suffered particularly, not only hospitality, but many businesses have also closed their doors and released commercial premises in the cities and indeed, hotels: The debacle is unprecedented, the lack of demand, and the slow recovery weigh down the income and stifle owners and managers. Lease renegotiations, sales refinancing and restructuring are the areas of work now.
We are pleased to bring you this issue of TRENDS magazine, produced by the Real Estate Practice Group of The Law Firm Network and featuring articles by some of its members. The members of The Law Firm Network collaborate in cross border real estate transactions providing local experts with international capabilities.
Rafael Truan Blanco, LFN Executive Director
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The Law Firm Network is a network of independent law firms originated in 1989. Our members are not affiliated in the joint practice of law; each member firm is an independent law firm and renders professional services on an individual and separate basis.