The beleaguered property sector’s sharp and unexpected rally earlier this month caught many off-guard. Yet the SA listed property index’s (Sapy) rebound of close to 25% in the first 10 days of June was long overdue.

No doubt it was becoming increasingly difficult to ignore the unbelievable discounts to NAV of 50% plus and the sky-high yields, exceeding 30%, offered by many traditional blue chips.

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