We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

Offshore property stocks are back in favour, accounting for most of the JSE’s top 10 best performers

The share price performance gap between the 50-odd individual stocks that comprise the JSE’s R500bn real estate sector has widened to nearly 50% in the year to date. Top-performing counter Sirius Real Estate is up 27%, and worst performer Accelerate Property Fund is down 21%. Besides German-focused Sirius, the top 10 best-performing stocks in the year to date include mostly rand hedges, according to Absa Asset Management. These shares include Greenbay Properties, which has exposure to Portugal and Slovenia, and has risen 21%; Polish-focused Globe Trade Centre (15%); Schroder European Real Estate Investment Trust (11.5%); Central and Eastern Europe-focused New Europe Property Investments (Nepi) (11%); and Rockcastle (9%).This follows last year’s underperformance of foreign stocks, when the share prices of a number of counters dipped into the red on the back of a stronger rand and concerns about how Britain’s decision to exit the EU would play out. About 20 of the sector’s 50 counter...

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 articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now

Would you like to comment on this article?
Register (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.

Commenting is subject to our house rules.