We are starting to see, with some certainty, where life post-virus may head. That, in turn, is providing firmer ground for real estate investors. In the darkest days of the coronavirus pandemic, investors were frantically attempting to ascertain valuations based on cash flows that were shifting, fast. Real estate is prized as an asset class that will hold its value, but has it delivered, and where do values now stand?

While property valuations are facing heightened scrutiny across the board, COVID-19 has turned the heat up on pressure cookers that were already building to a boil. Those pressures have intensified for high-street retail and shopping centers, secondary office locations, and anything involved in the leisure sector, including hotels, entertainment facilities and transport linked to cross-border travel.

“Favorite child” syndrome is benefiting grocery-based essential retail, data centers, and logistics and industrial assets. A look at stock-market valuati