It’s been a few months since I have last mentioned the GPR global index. In their latest market update, Global Property Research is reporting a recovery of the global 250 index in 2009 FY of 28.6%. We will have to bear in mind that this is a reversion from the decline recorded in 2008 of no less than 45.1%. So, the past 18 months may be described as a true rollercoaster ride.
Interesting enough, the European 250 index (36.6%) outperformed the Americas 250 index (28.3%) and the aforementioned Global index considerably. For reference, MSCI Global gained 26.5% in the same period.
Noteworthy outliers are Austria (+233.5%) and Brazil (+143.7) -all in local returns. Greece has been the only exception to the positive rule, performing a disappointing -51%.