Portuguese property investment funds remained in positive territory in the penultimate quarter of 2012, according to a new report.
Figures from the APFIPP/IPD Portugal quarterly property fund index revealed that in September, annual total return was 0.6 per cent.
While this is a contraction of 0.3 per cent from June 2012 and 1.5 per cent year-on-year, performance was sufficient enough to place the fund on a firm footing for the entire quarter.
The index is currently enjoying the positive behaviour of open ended funds, which have posted a total annual return of 1.4 per cent. This is in sharp contrast to closed ended funds, which recorded an annual return of -1.3 per cent.
This is the fourth consecutive quarter that closed returns have been in negative territory, after falling by 0.5 per cent and 1.7 per cent, compared to the returns of June and September 2011.
However, the overall positive performance of the fund is good news for the market at large, indicating 2013 could witness growth.
Article created on behalf of Propertyshowrooms.com News Desk (http://www.propertyshowrooms.com/news/)