Mapping the Size of Global Property Stock Markets

In 1990, scarcely two decades ago, there were no readily available measurements of the global market for property-linked stocks. Investors with a yen to buy property stocks “across the pond” had to rely on methods that are primitive by today's standards. An individual investor in New York City, for instance, who wanted to buy a property stock traded on the London Stock Exchange (LSE) had first to find a local broker willing and licensed to execute a trade on the LSE. Information on that distant investment or company operations was difficult to come by, often arriving by slow telex or fax.

From an institutional investor's standpoint, an intelligent allocation to real estate securities outside the ...

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