The FTSE EPRA/NAREIT Global Real Estate Index had another poor month in July. The index fell 6.2%, while the global equity markets were down 2.8% and the bob market added 1.4%.
The FTSE EPRA/NAREIT Global Real Estate Index had another poor month in July. The index fell 6.2%, while the global equity markets were down 2.8% and the bob market added 1.4%.
Of the three real estate regions, the Asia-Pacific fared best, but still ended the month 2.6% lighter. Europe ended down 7.3% and North America was down 9% as investors continued to sell. Year to date the Asia-Pacific region remains 6.3% ahead. Both North American (-15.3%) and European (-17%) stocks are behind in 2007.
In July, the EPRA/NAREIT Europe Index continued to slide back (-7.3%). The heavily weighted UK market dropped 6.8%, but losses in Continental Europe pushed the aggregate return down further. The Netherlands (-9.3%) was the heaviest hit.
All European countries now lie on negative territory year to date. The UK (-23%) is most affected, followed by the Netherlands (-10.1%), Sweden (-9.5%), and France (-8.4%). At a composite level, EPRA/NAREIT Europe Index is down 17%.
