EU property stocks beat market in Q1

Despite losses, European property companies outperformed equity market over Q1

European property companies produced a loss in the first quarter but still outperformed equities, according to research from La Salle Investment Management. The EPRA Europe Total Return index fell by 1.8% over the period, against a 14.5% decline from wider European stocks. LaSalle said this was a reversal of returns in 2007 when equities largely outperformed real estate. The figures have given fund managers at the group a boost in confidence but they said they are still only interested in quality assets. Ernst-Jan de Leeuw, head of European securities, said: "In this testing environ...