Is there any viable way to offset exposure introduced by buying a real-estate (house/land)? By "way to offset" I mean financial instruments (like derivatives) that you can buy to decrease the risk of the investment, and by "viable" I mean feasible from a cost perspective.
I'm especially interested in options available for London properties, but examples from any part of the world would be appreciated!
(I asked a similar question here already; while being helpful, the answers I got was a bit different from what I was curious about)
Note: I'm looking for something that acts like a insurance, perhaps something like a put option on an index that strongly correlates with the housing price etc. I'm aware that I can't cover all risks, but was hoping for something that e.g. would have mitigated the loss by a housing bubble burst.