Global property companies rallied in July as sentiment regarding the global economic outlook improved, based partly on encouraging results of the European bank stress tests, whose uncertain outcome had previously weighed on the market. European property companies as a result rebounded sharply with a total return of +14.5%, followed by property companies in North America +9.7% and the Asia-Pacific region +6.7%. Year-to-date, returns for global listed property stocks are once again in positive territory.
