Listed property stocks a hard sell, say fund managers
Panel of experts at Sapoa conference points to weak economic growth and less capital raising at home
It is becoming harder to make the case to invest in SA’s listed property stocks while economic growth is weak and funds are raising little capital at home, a panel of landlords and fund managers said on Wednesday at a property conference.
Last year was the worst year for the listed-property sector, which is worth R590bn. It suffered a loss of 25.26%, which includes dividends and capital growth. Moreover, share prices of some companies slipped to well below the net asset value (NAV)...