Global invested property stock set a new record level of $12.9 trillion at year-end 2013, driven by improving sentiment and capital value recovery, according to the 40th edition of the Money into Property 2014 report by DTZ. This is up 4 percent from a year ago, with growth across all three regions. Globally, growth was led by 9 percent in Asia Pacific, followed by 3 percent in North America and 2 percent in Europe in U.S. dollar terms.
Real estate stock growth was caused by equity growth of 9 percent, while debt posted a 3 percent increase. For the first time since the onset of the global financial crisis, growth was recorded across all four debt/equity and public/private quadrants. But Europe continues to lag due to continued bank deleveraging. With debt up less than equity, leverage levels continue to come down in
