The COVID-19 pandemic; government responses; the environmental, social and corporate governance (ESG) agenda and push towards net zero; and the acceleration of blurring of previously distinct asset classes are all driving significant change. Though real estate is generally still seen as one of the few investments to generate acceptable returns at a time of low or negative interest rates, the uncertainty has shifted priorities and raised questions about the availability of finance, repurposing assets, impact investing and the sector's increasing complexity. In this episode, Eoin O'Murchu is joined by Gareth Lewis (Director, PwC Real Estate Corporate Finance team and ETRE Leader) and Rachel Wallace (PwC Real Assets Restructuring team), to discuss how COVID-19 has impacted the industry and the key trends identified in the recently launched Emerging Trends in Real Estate® Europe report, a joint survey of nearly 1000 experts in 25 European countries by PwC and the Urban Land Institute - now in its 18th edition.