Investors in South Africa’s listed property companies have reason to smile, while elsewhere in the world they are smarting – latest figures.
Investors in South Africa’s Johannesburg stock exchange-listed property companies have reason to smile, while elsewhere in the world shareholders in listed property are smarting.
Only six countries saw growth in their listed property companies’ performance in the third quarter of 2007 and South Africa was among them, according to ResearchWorldwide.com
The worldwide commercial real estate information portal reported on Thursday that South Africa was fourth-best performing country in the last quarter in a group of 32 countries monitored through S&P/Citigroup BMI Property Indices.
China’s performance over the three months was just over 40%, Hong Kong’s around 21%, Indonesia at 18,6% and South Africa just over 7%. Listed property companies in Australia (3,7%) and the United States (0,9%) also grew.
Worst performer was Austria, which dropped a staggering 30%.
Listed property globally grew just under 3% in the third quarter, following a 5,6% drop in the previous quarter, said the website.
Negative growth was recorded for Latin America, Middle East, Africa and Europe in general.
Real Estate Investment Trusts (Reits) produced about 1% globally in the third quarter of this year, said ResearchWorldwide.com.