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Betting on buildings

Commercial property has enjoyed a very good run

By Judith Evans  

In the first quarter of 2015, retail investors plunged more cash into property funds than into any other asset class; a year later they abruptly reversed course, giving the sector its biggest month of outflows since 2008. This merry-go-round is all too familiar in the world of property investment, where the temptations of both income and capital growth in upward markets are tempered by fears of crashes when the cycle turns.

In the low-yield…

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