April marked the fourth consecutive month of positive performance for Asia Pacific property stocks, with a total return of 2.2 percent. This performance has more than kept pace with global property stocks, which returned 3.0 percent in April and have posted positive returns for five consecutive months. With the performance, Asia Pacific property companies are up 14.6 percent for the year through April, well ahead of global returns of 9.5 percent. While the strong performance primarily has been driven by developers, REITs have also posted positive, although more modest, returns of 5.0 percent through April. This additional decent month for the property sector, and the good overall start to the year, likely is because of generally-flat yields and improving fundamentals in select markets driven by a strengthening global economic environment (based on SNL Financial data, with quoted country returns in local currency, and regional indexes quoted in US dollars). Overall, the property sect