Pan-European IPD Index shows modest capital depreciation,
European commercial property delivered a much improved euro-denominated total return of 3.7% last year, according to the IPD Pan-European Annual Property Index compared to -11.4% in 2008. Stripping out the modest currency adjustments of the year left the 2009 return still just in positive territory, at 1.4% (-4.4% in 2008).
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