THE REAL ESTATE INDUSTRY IN EUROPE IN THE PRE- AND POST-PANDEMIC PERIOD.

Real estate represents one of the most profitable and of interest areas of investment. In 2019, the year before the pandemic, real estate represented 3.1% of Europe's GDP, and investment in new constructions or in the renovation of old ones accounted for more than 10% of all investment products in the European economy. This paper analyses the evolution of the real estate industry in the post-pandemic period, the trend being a favourable one, of growth. Real estate constitutes the basis for the proper functioning and development of the other sectors of the economy, therefore it is important to analyse the reaction of the industry in relation to an economic crisis, such as the one caused by the Covid-19 pandemic. The crisis has been the subject of debate for the past two years, as it has caused unprecedented changes in Europe's economy and, of course, in residential markets. Currently, the geopolitical situation in Europe, represented by the conflict in Ukraine and the refugee crisis, has the effect of increasing energy costs, the price of building materials and labour costs. In the given context, we reflected how the real estate market in Europe evolved in the pre- and post-pandemic period, following a series of essential indicators in the field: the evolution of constructions, real property prices, mortgage rates, rents and purchasing power of investors. [ABSTRACT FROM AUTHOR]