We live in strange and unprecedented times. It is natural, therefore, for investors to target sectors and assets that provide high-certainty, low-volatility income streams. But is there a danger that many of today’s “safe” investments — by virtue of their very popularity — will become tomorrow’s risk-laden allocations?

Real estate is an institutional asset class in both listed and unlisted forms, yet all too often market participants interpret unlisted real estate through the lens of listed real estate securities, giving significant scope for cognitive dissonance.

Property markets across the globe were unexpectedly hit in 2020 due to the COVID-19 pandemic and although it has been over a year since the start of the pandemic property markets are still trying to find ways to get back to a somewhat “new normal.”