The new hot spots for SA's property stocks
SA property stocks add new areas in Europe to their offshore portfolios as local opportunities dry up
Places in Central and Eastern Europe (CEE) that were once unfamiliar to SA property players — such as Ústí nad Labem in the Czech Republic, Gorj in Romania and Tomaszów Mazowiecki, Bialystok and Kraków in Poland — are now on the radars of those looking for a hedge against a weak rand and the dwindling local growth opportunities. The CEE region recently overtook the UK as the SA property sector’s single largest offshore investment market. It now accounts for about 20% of JSE-listed real estate assets, according to the SA Reit Association — mostly via Nepi Rockcastle, Echo Polska Properties, Global Trade Centre, Hyprop Investments, MAS Real Estate and Greenbay Properties. And SA investors are also starting to familiarise themselves with locations in Spain and Portugal such as Viseu, Coimbra, Cáceres, San Pedro del Pinatar and Badajoz as local property stocks expand their tentacles.In March, Resilient Reit and Greenbay entered Portugal via a joint venture, buying two shopping centres i...
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