The GPR 250 Index added 2.4% in February 2010, thereby outperforming both global equities that advanced 2.0% and global bonds (0.5%).
Look at the graph at the left, depicting the GPR 250 Index over the last 12 months. Allright, some months may have shown a slight net negative performance, but the trend in listed property has certainly been up. More specifically the local total returns of the sub-indices over the past year, are:
GPR 250 Global: 69.4%
GPR 250 Americas: 93.6%
GPR 250 Europe: 57.7%
GPR 250 Asia: 56.6%
Now, compare the above with my first posting on the GPR index, which accidentally covered the same month last year, february 2009.
The two conclusions that are best-visible when comparing these two graphs are:
1. The most recent bottom of the listed property sectors worldwide has been reached in February 2009;
2. The listed property sector in the Americas adapts more swiftly to changing circumstances, either way, leading to a higher volatility in these markets.
All previous updates on the GPR index may be found here.