FINANCE: The IPD Global Quarterly Property Fund Index returned 2.9% in the three months ending 30 June.
European funds experienced the highest rate of growth, with the UK market returning 4.1% during the period compared with 3.1% in March. North America returned 2.7% and Asia Pacific 2.5%, both up from 2.2% in Q1.
Mark Clacy-Jones, vice president at MSCI, said: “Capital appreciation is now dominating asset returns in the UK and North America, which both recorded double-digit performance over the past 12 months.
“And although income return is still the main driver of returns in Asia Pacific and Continental Europe, it should be noted that capital growth in Continental Europe reached 0.4% for the quarter. This is its highest level since the index started in 2008 and marks a return to positive territory for the first time since March 2011.”
sophia.furber@estatesgazette.com
