The EPRA/NAREIT Europe Index edged upwards to +1.7% for August 2008. At a country level, the returns were very similar to the previous month. The EPRA/NAREIT UK index was up 5.7%, while the EPRA/NAREIT France dropped further by -0.3%. The EPRA/NAREIT Sweden rose +6.9% by the end of the month. The Netherlands also added 10 bps. Year-to-date, the larger European markets stand at a loss. The UK market is -14.1% behind along with France (-7.7%). 36-month volatility for the region stands at (17.10%).
The EPRA/NAREIT Europe Index edged upwards to +1.7% for August 2008. At a country level, the returns were very similar to the previous month. The EPRA/NAREIT UK index was up 5.7%, while the EPRA/NAREIT France dropped further by -0.3%. The EPRA/NAREIT Sweden rose +6.9% by the end of the month. The Netherlands also added 10 bps. Year-to-date, the larger European markets stand at a loss. The UK market is -14.1% behind along with France (-7.7%). 36-month volatility for the region stands at (17.10%).
The FTSE EPRA/NAREIT Global Index added 3.8% in the month of August. Global equity markets fell/rose 3.7, while the global bond market returned 16 bps. North American listed property sector out-performed the other two sectors for the second time, by returning 8.5% for investors this month. Asia-Pacific slid into the negative (-0.4%) and European real estate markets added 17 basis points. Year-to-date, European (-16.2%) and the Asia-Pacific -28.2% markets are on negative territory, while North American market is only slightly negative (-0.5%).
Five-year rolling return Global Real Estate (56.8%) continues to out-perform the two other major asset classes. Global equities gained 30.9% and global bonds added 21.7% over a five-year holding period. Average annual returns for global real estate stands at 9.4% compared to 5.5% and 4.0%, for global equities and global bonds, respectively.
