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«IPD today released the world’s first global property index. The IPD Global Property Index covers returns from the most mature real estate investment markets around the world – 22 national markets in total. The Index tracks global performance over the 7 years starting 2001 – a truly 21st Century index – together worth an estimated €3.25 trillion as at end-2007.
Expressed in local currency terms, the total return for the 12 months to December 31st 2007 stood at 11.5%. This was significantly down on the 14.7% peak return delivered globally in 2006. This fall in local currency total returns reflected deceleration or continuing decline in all of the five largest contributing markets – the US, UK, Japan and France – with Germany alone improving on its 2006 result, despite a further fall in capital values.
A Global Property index is essential not only for increasing transparency, but also for supporting cross-border mandates and strategies, in an investment market which no longer recognises national boundaries as reasonable constraints». (CS della Società)
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