Global property stocks now offer better buying opportunities than their SA counterparts, prompting local investors to up their exposure to offshore real estate. Joan Muller looks at where the smart money is going. SA listed property may well have pipped general equities, bonds and cash to the post in 2011 but a total return just shy of 9% is nothing to rave about. This is particularly so when compared with the 22% return pocketed by SA investors who betted on global listed property last year (UBS global real estate investors index). Granted, the weaker rand was the key contributor to the performance of offshore property stocks, or real estate investment trusts (Reits) as they are commonly known. But analysts say SA property investors are likely to again make more money abroad than in their own back yards this year - irrespective of movements in the rand-exchange rate. Though some economists have called the rand at R9/US$ by year-end, Kundayi Munzara, a director at b...
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