Total returns on French property last year came in at 21.7%, the highest level since 1997, outperforming the 20.9% return from French equities and the very weak return of 0.9% on the French bond market. Real estate index provider IPD France said the performance was driven by strong capital growth of 15.3%, up from 8.8% in 2005. However, income revenue fell to 5.7% from 6.1% the previous year.
The Grand Hotel Imperiale in Forte dei Marmi, Italy has been sold to UAE-based real estate company Emaar Properties, owner of renowned buildings such as the Burj Khalifa and the Dubai Mall.
