The R223 billion South African listed property sector’s underlying property and fund fundamentals are showing improvement, despite the recent bond-driven share price volatility on the JSE Real Estate Investment Trust (REIT) board.

Fairvest Property reports that it has achieved its forecast distribution of 6c per linked unit for the year ended June 2013.

South Africa’s listed property sector soared 5% during the week ending 13 September 2013, significantly outperforming both the equity and bond markets. 

Listed Property Sector Results Highlights

SA Corporate Real Estate Fund reports 7.3% year-on-year growth in distributions to 16.28c per unit for the six months ended June.

Premium Properties REIT status approved

Linked unitholders are advised that the Company's application to the JSE Limited ("JSE") for Real Estate Investment Trust ("REIT") status has been approved by the JSE.

Accordingly, Octodec will qualify as a REIT with effect from the commencement of its next financial year, being 1 September 2013.

Synergy Income Fund today reported a strong set of results for its financial year ended on 30 June 2013, delivering on its forecast distribution growth to unitholders.

Property income fund Ascension Properties Limited today reported an excellent set of results for the year ended 30 June 2013.  

The local property index is on track to being the second-worst performer on the JSE today.