Large economies drive down global real estate stock average

The Global Listed Properties Company Index fell 6 per cent in the first quarter of 2005, even though 75 per cent of countries' stock exchanges recorded an increase in their listed property companies' indices.

The real estate sectors of the major stock exchanges in the US, the UK, Hong Kong, Australia and Thailand showed negative growth, pulling down the global average. Only Latin America recorded positive growth.

Of the 32 countries monitored by real estate information, 24 countries reflected gains during the first quarter of 2005. The eight countries which showed negative returns were headed by Taiwan (-14.4%), Thailand (-14.0%), US (-8.2%), UK (-5.6%) and Australia (-4.9%).

The large market capitalisation of the bigger economies drove down the overall global performance of listed real estate companies worldwide.

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