Europe’s listed property sector just stayed in the black in August (month to date) thanks to a strong performance by both Sweden (3.7%) and Austria (3.5%) and to a lesser extent Germany (1.8%).

swedish stocks help keep european property index in the black

Swedish Stocks Help Keep European Property Index in the Black

Swedish stocks Balder, Hufvudstaden and Fabege led the charge with gains of 4.5%; 4.1% and 3/2% respectively. Despite the UK’s overall weak performance, there was a large number of winners including Tritax Big Box (+8.7%), Intu (+5.6%), Hammerson (+4.1%), Segro (+2.6%) and Shaftesbury (+2.6%).

Overall, however, the UK accounted for the largest number of top-10 losers in Europe in the listed sector in August, with Derwent London (-3.1%), Kennedy Wilson (-2.6%), Great Portland Estates (1.8%), British Land (-1.4%) and Unite (-1.2%) all in the red. Overall the UK index slumped 0.91%.

The biggest loser during the month to date was Madrid-listed Inmobiliaria Colonial which fell 5%, but the Spanish index confined the losses to 0.3%. The Swiss index was the biggest loser overall with -1.9%.