| Real estate stocks in India are the most
| |
| | Norway, Sweden, China, Indonesia,
|
| expensive in the world even as they give
| |
| | Malaysia, Philippines, South Africa,
|
| lower returns than most of the emerging
| |
| | Taiwan and Thailand.
|
| as well as developed markets including
| |
| | The rally in the emerging market realty
|
| China, Singapore, Hong Kong and
| |
| | stocks, appears to be mostly driven by
|
| Australia.
| |
| | the Chinese stocks with top five global
|
| The revelation has come in the backdrop
| |
| | gainers for the quarter coming from
|
| of a seven-year bull run in the global
| |
| | China.
|
| property stocks coming to an end in the
| |
| | Globally, property stocks fell by 4.5 per
|
| second quarter of 2007, although emerging
| |
| | cent on an average in the quarter as
|
| markets bucked the trend, according to
| |
| | measured by the S&P Citigroup Global
|
| second-quarter review of property sector
| |
| | Property Index with sharp falls being
|
| by international investment services firm
| |
| | registered by the stocks from the US,
|
| Standard & Poor's.
| |
| | Europe and other North American markets.
|
| A comparison of price to earnings ratio
| |
| | However, emerging market stocks delivered
|
| of stocks from various countries showed
| |
| | a positive return of 19.4 per cent in the
|
| that valuation of property stocks from
| |
| | quarter and 26.7 per cent since the
|
| the US and UK moved lower, while those
| |
| | beginning of 2007. On a one-year basis
|
| from emerging market continued to grow.
| |
| | too, the emerging markets crossed the
|
| P/E ratio is considered as valuation
| |
| | global average of 27.8 per cent by a wide
|
| benchmark of a stock where a higher ratio
| |
| | margin, registering a gain of 90.6 per
|
| indicates an expensive stock while lower
| |
| | cent.
|
| P/E signifies a cheaper stock.
| |
| | Top five performers were Medinet Nasr
|
| P/E ratio for Indian stocks for the
| |
| | Housing from Egypt, China Vanke Co,
|
| trailing 12 months was highest among all
| |
| | Beijing North Star Co and Shg Lujazui
|
| countries, while return on equity (ROE)
| |
| | from China, besides Amata Corp from
|
| was second lowest among all emerging
| |
| | Thailand.
|
| markets and lower than most of the
| |
| | "A prolonged seven-year stretch of
|
| developed markets.
| |
| | continuous gains, leading to excessive
|
| The S&P study put the last 12-month P/E
| |
| | valuations, decreasing yields and a
|
| for Indian stocks at 209.30, against just
| |
| | legitimate desire for profit taking
|
| 29.69 in China, 39.90 for the US and 3.18
| |
| | caused a sell off in the sector,"
|
| for the UK. On ROE front, Indian stocks
| |
| | Standard & Poors Index Services Vice
|
| gave a 7.15 per cent return, lower than
| |
| | President Alka Banerjee said.
|
| the global average of 7.3 per cent.
| |
| | She said that after such a bull run,
|
| While India's ROE was higher than that of
| |
| | global property and REIT stocks finally
|
| the US (6.2 per cent) and the UK (3.05
| |
| | gave back some of the returns that have
|
| per cent), it was the second lowest among
| |
| | made them such an attractive investment
|
| emerging markets after Turkey's 4.2 per
| |
| | in the last few years.
|
| cent.
| |
| | REIT indices for Europe, US and the rest
|
| Besides, ROEs were more than 20 per cent
| |
| | of the world fell, while Asia was the
|
| for stocks from markets like Denmark,
| |
| | only market to post a gain with a modest
|
| Egypt, Israel and Poland.
| |
| | rise of two per cent, she said, adding
|
| It was over 10 per cent for markets like
| |
| | that UK REITs performed dismally.
|
| Germany, Finland, Greece, Ireland,
| |
| |
|
