But investors are looking for different types of real estate than they were at the beginning of the year, according to a report released on Monday by Withersworldwide, an international law firm. The firm talked to people who work in property and land development as well as academics, architects and hospitality workers about what the future of real estate might look like. Before the pandemic, investors wanted to be in cities like New York and London, where retail and residential properties profited because people lived close together. With coronavirus flare-ups in many cities around the world, investors now are looking for the opposite, said Vasi Yiannoulis-Riva, a partner in the real estate group at Withersworldwide. Commercial property deals in big urban areas have stalled, and she has been working with wealthy individuals buying estates outside cities like New York.

Source: International New York Times October 16, 2020 13:01 UTC