COVID-19 has brought both a health crisis as well as an economic one.

There has been significant economic pain that accompanied the widespread lockdowns and border closures.

Traditionally, physical real estate is viewed as a reliable investment.

However, the current crisis is unique in that it is vastly different from the previous downturns.

Investors may wonder if real estate businesses can remain resilient.

The answer, however, is not so simple.

As real estate encompasses a variety of sub-types and use cases, the implications for real estate companies are varied.

With that in mind, I thought it would be useful to segment the discussion into broad categories to help understand how each segment is coping with the economic fallout.


The quintessential real estate vehicle is, of course, the real estate investment trusts, or REITs.

The pandemic has affected the different types of REITs in different ways.

By far, the most severely impacted REITs have been the hospitality ones, such as