LISTED
PROPERTY
SURPRISES
ON UPSIDE
Sector may face
some headwinds.
6 PROPERTY MOGUL ISSUE 2 – NOVEMBER 2014
By Ingé Lamprecht
T
he SA Listed Property Index
(Sapy) delivered a return of
14% in the first nine months
of this year, compared with a
return of roughly 9% for the JSE All
Share index during the same period.
But can the sector continue on this
trajectory in the year to come?
Tsana Ramatswi, investment analyst at Meago Asset Managers, says although the sector faces headwinds in
the form of a revised growth forecast
and muted demand, listed property
will likely continue to deliver positive
total returns because of the defensive
nature of the asset class.
With the South African economy
forecasted to grow at just 2.5% next
year, listed property returns will be
supported by the income return with
the forward yield in excess of 7%, she
notes.
Ramatswi expects the downward re ٥ͥ