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.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now