Going down, going down. According to a recent report by Global Property Research, property stock went down 15.4% in feb 2009, after losing 11.7% in the first month of the year. The GPR250 was heavily affected by US Reits performing poorly (-/-21,6% in feb).
Interestingly but not surprisingly, propertyfirms accross the board are raising new capital nowadays. Equity for debt, I presume. But… who’s investing?
For anyone interested in following the global propertyshares markets, I recommend GPR, sub of Kempen & Co. for excellent research reports.