Global Property Research’s GPR 250 index, covering the 250 most liquid property companies worldwide, ended the first quarter of this year 5.6 percent down in local currency terms. Not a single continent posted any gains, with Africa having a particularly horrid start to 2018, losing –25.5 percent. The top five performing companies included two Spanish firms — Inmobiliaria Colonial and Hispania Activos Inmobiliarios. They came fourth and fifth, behind Quality Care Properties Inc. in the US and Canadian companies Pure Industrial Real Estate Trust and Dream Global REIT.

   GPR 250 Index

Euro- denominated