The problem is, however, sometimes specific share prices go too high, too quickly. Then the correction takes place, and prices sometimes go too low. These events are usually smoothed out over the long term, and although listed property is back where it was in 2015, investors in the listed property index still trebled their money over the past ten-year period.
It might be time to consider buying property shares again, and under the current circumstance where future economic conditions are impossible to forecast, the more stable property companies are worth consideration.
Growthpoint Properties Limited is the largest property investment holding company listed on the Johannesburg Stock Exchange, with a portfolio of approximately 450 directly owned properties in South Africa valued at almost R80 billion. The most well-known is the 50 percent stake in the V&A Waterfront. Growthpoint is included in the JSE Top 40 Index, being the 21st biggest company.
The groups combined property assets are valued at R133bn, of which 28 percent by book value is located offshore. They own and manage a diversified portfolio of offshore properties, among them 57 in Australia and 48 properties in Poland and Romania.