If September was incredible, then what is there to say about October? Looking back, at my last blog, it appears almost as though it could have been written six months ago and in a different world.
At least I’m not alone in being confused; most of the commercial property news stories this month have also reflected a crazy world and one that may well be about to get even crazier. A report from Standard & Poors about the performance of global REITs set the tone. This showed REITs as outperforming direct property so far this year, undoubtedly good news. However the slightly euphoric tone seemed bizarre given that the performance being cheered was a year to date loss of 14.27% as at the end of September. This was probably a good time to stop measuring for the moment, at least in the UK!...
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