COVID-19’s impact on real estate markets: review and outlook

Abstract

As symbolized by vacant office buildings, empty shopping malls and abandoned flats in metropolitan areas, the new coronavirus disease 2019 has severely impacted real estate markets. This paper provides a comprehensive literature review of the latest academic insights into how this pandemic has affected the housing, commercial real estate and the mortgage market. Moreover, these findings are linked to comprehensive statistics of each real estate sector’s performance during the crisis. Finally, the paper includes an outlook and discusses possible future developments in each real estate segment.