The history of the Weimar Republic teaches that real estate prices offered only limited protection against hyperinflation and only if one was living in his own home. Maintaining a house during periods of high inflation becomes very expensive due to constantly rising material cost. Of course a house usually survives a currency crisis whereas cash in a bank account does not.
In 1922 apartment rental prices were capped by the government and adjusted for inflation, rentals were only a fraction of what they had been before WWI. Consequently house prices were falling. However, rates and taxes on real estate sales were raised.
- Berlin raised the capital gains tax on real estate sales to 30%.
- In July 1924 home prices had dropped about 80% since 1918.
- From about 1935 to 1950 rental prices were “frozen”
- In 1952 “debt profiteers” had to pay a “mortgage gains tax”
RE offers wealth preservation in a currency crises, albeit one must be able to pay for maintenance and government levies and taxes. Moreover I assume that RE prices in a hyperinflation scenario are not increasing as much as gold and silver, if at all.