Work-from-home divides real estate into the good, bad and ugly

WORK-FROM-HOME (WFH) and lockdowns have carved up the real estate sector into a handful of winners and many more losers.

The resulting split into the good, the bad and the ugly presents a challenge for investors who expect diverging valuations to revert to historic averages in 2021.

As the Covid-19 pandemic took hold, investors hoovered up shares in warehouses and logistics centres that facilitate the socially distanced economy.