Investor appetite rises for rand hedge property stocks
Weaker currency lifts demand for offshore real estate counters while share prices of SA-based companies continue to flounder
There has been renewed investor appetite for rand hedge property stocks, with a number of counters notching up share price gains of between 4% and 8% last week.
Analysts say increased appetite for offshore property stocks comes in the wake of renewed rand weakness. Last week alone SA’s currency lost 3.66% against the euro, 3.22% against the British pound and 2.76% against the US dollar, according to figures from Anchor Stockbrokers.