Annualized total return (all property series) is year-over-year in local currency. Arrows indicate momentum in total return from year-ago levels. Upward momentum is a positive shift of 1.0 percentage point or more in total return from the previous year. Downward momentum is a negative shift of 1.0 percentage point or more in total return from year-ago levels. Any shift of less than 1.0 percentage point in either direction is interpreted as stable performance.
The grey sparkline shows year-over-year movement of annualized total return over the longer term in the currency of the featured country. The dots show the period when the national market peaked and troughed.
Source : MSCI