Which sectors will feel the severest effects of Covid19?

• Hardest hit: the tourist sector i.e. the hotels and retail that depends on tourism, including all the homes and apartments on Airbnb and other short stay operators.

• Potential home purchasers will begin to worry about job security and put off purchases.

• JPMorgan warns that co-working demand will likely evaporate, and sub-lease space pick up.

• In the commercial market, retail is the most exposed, particularly retail dependent on discretionary spending

• Industrial property is affected by supply chain disruption

• The construction industry has slowed - it sources much of its material from China.

• QUESTION: If tenants contract COVID-19, what disclosures would be required? and who pays for and guarantees the cleaning?