9th Oct 2024 08:35
Schroder European Real Estate Investment Trust PLC - London and Johannesburg-listed property investor - Says direct property portfolio is independently valued at EUR208.1 million as at September 30, reflecting a marginal decrease compared to the quarter to June 30. Says this is the second consecutive quarter of stabilising values and recent European Central Bank interest rate cuts are expected to have a further positive impact on investor and occupier confidence, liquidity and values.
"Following the recent period of macro volatility, there is increasing evidence that the market has reached an inflection point. Falling inflation and interest rates are providing an underpin for improving investor sentiment and liquidity, which is translating into valuation resilience, and provides an encouraging platform as we look ahead to 2025," Chair Julian Berney says.
Current stock price in London: 72.20 pence, up 2.9% on Wednesday
12-month change: up 7.4%
Current stock price in Johannesburg: ZAR15.29
12-month change: down 4.4%
By Artwell Dlamini, Alliance News reporter
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