The FTSE EPRA/NAREIT Global Real Estate index of the largest and most heavily traded property stocks in the Asia-Pacific region, Europe and North America has continued the downward momentum from last year to finish at -5.5% in January. Global equity markets also dipped in the red (-0.8%), while the bond markets added 1.7% in January.
The FTSE EPRA/NAREIT Global Real Estate index of the largest and most heavily traded property stocks in the Asia-Pacific region, Europe and North America has continued the downward momentum from last year to finish at -5.5% in January. Global equity markets also dipped in the red (-0.8%), while the bond markets added 1.7% in January.
European real estate performed better than listed property in North America and Asia by recording a return of 0.3%. North America finished the month on -2.6%, with Asia at the bottom of the table on -10.5%.
But the European Public Real Estate Association (EPRA) said Asia-Pacific was the only region to finish 2007 in positive territory (+3.5%). North American (23.3%) and European (-31.9%) real estate stocks experienced significant downturns in 2007. The aggregate Global real estate return for 2007 was -16.1%. All returns are expressed in euros.
In Europe, the heavily weighted UK market rebounded 5.1% after a significant slide in 2007. France (+0.9%) ended the month higher. But a combination of poor performance across the rest of the region, including the Netherlands (-0.6%) and Sweden (-1.9%) held the region back, EPRA said.
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