The real estate of things to come

We have long held the shape of real estate returns is attractive over the long term and real estate also offers diversification benefits within a multi-asset portfolio. Of more immediate importance, however, we now think there are particular reasons to be positive towards the sector at the current time. Listed real estate companies are almost all on a sound commercial footing. Balance sheets have been restored where necessary and revenue accounts are generally founded on relatively long leases and loan durations. Vacancy rates, levels of bad debt and tenant delinquency have risen far les...