Pandemic Risk Exposure: Impacts of COVID-19 Virus on Real Estate Investments

Giorgio Stefano Bertinetti (), Licia Ferranna () and Gloria Gardenal ()
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Giorgio Stefano Bertinetti: Dept. of Management, Università Ca' Foscari Venice
Licia Ferranna: Dept. of Management, Università Ca' Foscari Venice
Gloria Gardenal: Dept. of Management, Università Ca' Foscari Venice

No 1, Working Papers from Venice School of Management - Department of Management, Università Ca' Foscari Venezia

Abstract: The pandemic caused by the Covid-19 virus has severely impacted the real estate industry. The research investigates the relationship between the spread of the virus and REITs performances in Europe, considering the role played by localization and diversification of properties in the real estate portfolios. The results show that Covid-19 had heterogeneous impacts depending on property types. Moreover, risks associated to Covid-19 may be described by synthetic indexes that represent the degree of vulnerability of economic activities carried out in the real estates.

Keywords: Covid-19; commercial real estates; REITs; vulnerability; abnormal returns. (search for similar items in EconPapers)
JEL-codes: D80 G1 I10 R10 R30 (search for similar items in EconPapers)
Pages: 19 pages
Date: 2023-01
New Economics Papers: this item is included in nep-eur
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