Jones Lang LaSalle's Q1 property Style Index has borne out the forecast of lower yields in 2007. Total property returns in the first quarter dipped to 2.3%, the lowest level since the second quarter of 2003. The index revealed a major gap in the performance of high-yielding secondary (value) properties and low-yielding prime (growth) properties. Growth properties turned in total returns of 2.7%, compared with 1.2% for value properties.
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