The MSCI South Africa Bi-Annual Property Index revealed a 5% ungeared total return for direct real estate during the six months ended June 2024.
On a twelve-month rolling basis, the return was 10.1% – double that of CPI of 5.1%.
The index’s total return for the six-month period comprised an income return of 4.1% and positive capital growth of 0.8%.
On a sector level, industrial property continued to be the top performer with a total return of 7.3% (13.2% on an annual basis), benefitting from strong occupier demand.
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