With luck, the year 2021 will not be remembered much. And that is the good news for Asia Pacific institutional property investors. Gashing its mark in history, the COVID-19 pandemic of 2020 made misery for citizens and investors alike, wrecking lives and economies with unexpected tenacity.

Most Asia Pacific nations have had better results with the pandemic than their Western counterparts, although economies the world over have shuttered under lockdowns, travel bans, business and social restrictions and, of course, reduced consumer and investor confidence.

In particular, bans on travel and gatherings have undercut hospitality and entertainment properties, while work-from-home schedules leave office buildings lightly used and attendant retail strips wanting for foot traffic. But pandemics do not last forever, and with each passing day, it looks more likely COVID-19 vaccines will be deployed this year.

For Asia Pacific real estate markets, note industry observers,