Time to go back to UK market?
Top tips for investing in offshore property
UK-focused property stocks are trading at attractive discounts, but investors need to be selective
Though the share prices of some UK-focused property stocks have recovered somewhat in recent months, most are still down 10%-20% over 12 months as uncertainty lingers about how Brexit will play out. This raises the question of whether it is a good time for value-chasers to re-enter the UK property market via rand-hedge stocks. SA investors who don’t want to take money physically offshore have at least nine UK-focused counters to choose from on the JSE. These include Covent Garden-owner Capital & Counties Properties, SA retail tycoon Christo Wiese’s property arm Tradehold, Stenprop, Redefine International and Atlantic Leaf Properties, as well as pure retail players such as Hammerson, Intu Properties, New Frontier and Capital & Regional.Most are now trading at a discount to net asset value (NAV), which is in sharp contrast to a number of other rand-hedge and even SA-focused property stocks. Peter Clark, who runs the listed property division of Investec Asset Management from London, sa...
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