The FTSE EPRA/NAREIT Global Real Estate Index fell again at the end of 2007, finishing at -4.8% in December. Global equity markets (-5.5%) also headed down, while the bond market was neutral for the month. All three real estate regions fell back in December. Asia-Pacific real estate fell 5.2%, Europe lost 4.3% and North America ended 4.6% in the red. In 2007, the Asia-Pacific region was the only region to complete the year on positive ground (+3.5%). Both North American (-23.3%) and European (-31.9%) real estate stocks experienced significant downturns in 2007. The aggregate Global return for 2007 was -16.1%.
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