The new year has not heralded a recovery for listed real estate companies in Europe as the GPR 250 Europe index recorded a 8% loss for the first month of 2009. There was brighter news, however, on a country level. Austria was the best performer with +24.7%. Italy was in second place (+18.8%), followed by Turkey (Is REIT; +17.1%), Belgium (+5.7%) and France (+2.2%).
The new year has not heralded a recovery for listed real estate companies in Europe as the GPR 250 Europe index recorded a 8% loss for the first month of 2009. There was brighter news, however, on a country level. Austria was the best performer with +24.7%. Italy was in second place (+18.8%), followed by Turkey (Is REIT; +17.1%), Belgium (+5.7%) and France (+2.2%).
Greece - represented by Babis Vovos I.C. - was the worst performer (-40.8%). The UK came in second place at -23.3%, followed by Poland (GTC; -13.0%), Norway Norwegian Property; -12.8%), Sweden (-12.3%), Germany (-10.9%), Switzerland (-3%), the Netherlands (-2.3%) and Finland (-0.8%). All performances are given in local currency.
The returns for January on a regional basis were all negative:
GPR 250 indices
GPR 250 Africa -2.6%
GPR 250 Europe -8.0%
GPR 250 Asia -8.2%
GPR 250 Oceania -9.3%
GPR 250 Global -11.7%
GPR 250 Americas -16.6%
