GPR 250 index gains 4.3% in March 2009. But down 22% q-o-q

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http://www.propertyshares.com

The GPR 250 Index recorded its first monthly gain (4.3%) in 2009. At continental level, Asia (10.5%) ranked top spot while Europe was worst performer losing 1.2%. In the first quarter, the global listed property sector lost 22.0%.

Many property firms raised additional equity, either through secondary offerings or rights issues, according to GPR:

[] in order to get their balance sheets in better shape, possibly preparing to take advantage of great buys down the road.

That is an interesting view: up until now, property firms have been struggling with their balance sheets and bank covenants and felt the need to even sell off their assets in case further equity raising would not be successfull. This may still be the major concern, but it seems that equity is also being raised now in order to snap some opportunities in the months to come.

GPR feb 2009 update is here.

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