European property stocks edged up slightly in July as the FTSE EPRA/NAREIT Global Real Estate Index finished the month up 1.8%. In the same period global equity markets fell -1.4% and the global bond market added 110 basis points.

European property stocks edged up slightly in July as the FTSE EPRA/NAREIT Global Real Estate Index finished the month up 1.8%. In the same period global equity markets fell -1.4% and the global bond market added 110 basis points.

Of the three regions measured by the index, European real estate markets was the poorest performing, ending at 0.6% for July. Asia-Pacific was just ahead, added 0.7% in July, while the biggest gainer was North America on 3.4%. Year-to-date, all three regions are on negative territory: Asia-Pacific (-28%), European (-18%) and North American (-8%). This paints 'paint a rather overcast picture for global real estate in 2008,' EPRA said.

In Europe, France was the heaviest hit of the major countries (-1.8%). European heavy-weight EPRA/NAREIT UK added 3.7% and The Netherlands added 0.5%.

EPRA/NAREIT Sweden gained 3.2%. Year-to-date, all European major countries are behind. The UK market is 21% in the red, and Sweden is 17.7% behind. France and the Netherlands are now behind -7.4% and -8.64% respectively. Europe's 36-month volatility is 16%, the lowest of the three regions.