The “demise of the divvy” is what investors in JSE-listed property stocks will best remember of 2020 – besides, of course, the arrival of Covid-19. It put paid to the widely held notion that investing in property provides a predictable and growing income stream.

True, most real estate investment trusts (Reits) will probably resume dividend payouts within the next six to 12 months, when they have more certainty about the direction of rentals, vacancies and arrears in their retail, office and industrial buildings...

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