European listed property stocks, as represented by the GPR 250 Europe Index, finished 8.7% lower in August 2011. The returns for individual European country indices were all negative , with Italy, Spain and Poland reporting the biggest losses (-15.8%, -19.0% and -26.7% respectively).
The Grand Hotel Imperiale in Forte dei Marmi, Italy has been sold to UAE-based real estate company Emaar Properties, owner of renowned buildings such as the Burj Khalifa and the Dubai Mall.
