Any current story about short- to mid-term investment strategy has to start with COVID-19. The disease that swept the world this spring shook asset values of all kinds. Some of them are still shaking.

“The COVID-19 epidemic has brought incredibly quick changes in the values of assets,” states Alison Cooke, managing director at Starr International Advisors. How the world responds will reshape how property investors think about their three-year plans.

The legislation propounded by governments globally would provide relief to commercial and residential tenants, but it’s unclear how long those relief efforts will last. Even the practicalities are yet to be ironed out. For instance, Cooke asks, will commercial tenants still be responsible for paying service charges on a current basis?

These new rules are being written on the fly, change quickly and are different in every nation, or even by province or state. “This has huge implications for valuations and mean