Investors' risk appetite has returned. General equity markets have recovered strongly in recent months.
The FTSE All Share Index rose by 22% during the three months to the end of September 2009. Corporate bond markets have also performed well. What about commercial property markets? Is a recovery on the horizon? Investors in listed property markets (that is, publicly quoted real estate investment trusts and property companies) appear to have priced in a more optimistic view of the market. In the UK, the market rose by over 60% between the end of February 2009 and 15 October. Similar rises were experienced in the US, Continental Europe and Asia, according to FTSE EPRA/NAREIT total return in...
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