Johannesburg - South Africa's listed property sector
advanced 1.8% last week, bringing the sector to 6.7% for November, Grindrod
Asset Management said on Monday.
Grindrod chief investment officer Ian Anderson said in a
statement that the sector outperformed both the equity market, which stood at
2.6%, and the bond market, which was at 0.9%.
"However, listed property distribution growth is
expected to average between 6% and 8% per annum over the next three to five
years," he said.
"(This is) suggesting there is significantly more value
in the listed property sector than in the South African bond market.
During the week, Arrowhead Properties reported results for
the year, ending in September 2012, which exceeded management's forecast by
The company also expected distributions to grow by 10% in
Ascension Properties announced that unit holders had
approved the purchase of properties from Capital Property Fund.
Anderson said Annuity Properties had announced the
successful placement of more than 92 million new units at an issue price of
520c a unit.
Units in a trust are treated like shares and unit holders as
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