The Bottom Line: Hyprop’s position

Property loan stock company Redefine's sparkling results (Companies April 22) have revived the debate about whether property funds listed on the JSE should be pure or "hybrid".

Listed property's party is over and investors in the sector can expect lower, more stable, total returns of about 13% next year, says First South Securities.

Investors in the listed property sector can expect lower, more stable total returns of 13% in 2005 - says First South Securities property analyst Leon Allison

Cape Town - Habitat Property Investments, a residential property income fund, was going ahead with its intended listing on the JSE Securities Exchange, Anton Botha, the managing director of Catalyst Property Asset Managers, the manager of Habitat, said on Friday.

Redefine Income Fund today announced a distribution of 8.25 cents per linked unit for its third quarter from 1 March 2004 to 31 May 2004.

Following recent transactions Redefine Income Fund has the longest lease expiry profile on the listed property sector of the JSE Securities Exchange South Africa.

Sanlam Properties will have taken R1.5 billion worth of property off its books this year when the Vukile Property Fund is listed this month.

THE surge in UK property giant Liberty International’s share price (both in SA and the UK) since the beginning of May has caught the market by surprise, especially as latest indications are that the UK spending boom is slowing.

AN INVESTMENT in ApexHi Properties in March 2001, when the company converted from a property unit trust (PUT) to a property loan stock (PLS), would have grown more than 70% (income and capital growth).