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NCREIF Property Index (Q4 2021)

The NCREIF index saw its strongest ever quarterly price appreciation in Q4, with values up by 5.1% q/q, driving a quarterly return of 6.2%. That took annual returns to 17.7%, led by industrial, where returns exceeded 40%. Meanwhile, improvements in the retail and hotel sectors point to better years ahead in 2022, but there are signs that returns in apartments and offices may be topping out.

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