GLOBAL LISTED
BY ANDREW CATTELL
Global Listed Property
Maximising your money
I
n local currency terms, the performance of global
listed real estate has been on par with that of
the local listed real estate sector year-to-date.
However, given the performance of the rand so far
this year, global listed real estate has outperformed
the local market in rand terms. On average, the yields
of global listed real estate markets with REIT (Real
Estate Investment Trust) or REIT-like characteristics
(like the local sector) are trading 1.5% to 2% higher
than their respective local bond markets. In South
Africa, however, the listed real estate sector is trading
a