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

Author

Listed:
  • 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)

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.

Suggested Citation

  • Giorgio Stefano Bertinetti & Licia Ferranna & Gloria Gardenal, 2023. "Pandemic Risk Exposure: Impacts of COVID-19 Virus on Real Estate Investments," Working Papers 01, Venice School of Management - Department of Management, Università Ca' Foscari Venezia.
    • Handle: RePEc:vnm:wpdman:200
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    More about this item

    Keywords

    Covid-19; commercial real estates; REITs; vulnerability; abnormal returns.;
    All these keywords.

    JEL classification:

    • G1 - Financial Economics - - General Financial Markets
    • I10 - Health, Education, and Welfare - - Health - - - General
    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
    • R10 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General
    • R30 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - General

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