It wasn’t that long ago — late December 2017 to be exact — that the SA listed property index was still testing new highs.

A number of blue chips were trading at record-low dividend yields of sub-5% and demand for property scrip seemed never-ending. Investors continued to support the growth ambitions of the JSE’s 60-odd counters via multibillion-rand book builds, new listings and mergers & acquisitions activity...

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