Those various components are weighted broadly in line with the structure of the economy, so that changes in consumer and producer prices account for about four-fifths of the total index, property about 15% and share prices 5%.
ECONOMIST: Should central banks try to target asset-price inflation?
The Shanghai Stock Exchange Property Index has fallen 10% since early September last year.
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In 1985 the South Dakota native cofounded Green Street Advisors, a research outfit that publishes an influential commercial property index.
According to the NSB index of residential property prices in 70 tier 1 and tier 2 cities, prices fell in highly populated cities like Beijing, Shanghai, Guangzhou and Shenzhen to name a few.
FORBES: China Housing Bubble Deflating; More Declines Seen In '12
Average leisure property prices in these cities grew by a mere 0.3% during the second half of last year, compared to 3.1% in the first six months of 2011, Savills' Leisure Property Index shows.
The National Council of Real Estate Investment Fiduciaries (NCREIF) Property Index (NPI) is the accepted index created to provide an instrument to gauge the investment performance of the commercial real estate market.
Data from China Real Estate Index System showed that property prices in 72 cities posted a decline in February compared with January, whereas prices in 27 cities rose.
Singapore's private-residential property price index rose 1.8% in the fourth quarter of 2012 from the third quarter to a record 211.9 points, the third straight quarter of growth.
Another method is to swap the total return on the NCREIF index broken down by property sector, allowing investors to take a position in an alternate property sector in which they may not own properties, thus allowing investors to swap the returns from office related real estate for retail real estate.
Jakarta and Bali recorded the highest growth of luxury property across an index of 80 destinations.
In the three months ending July 2011, the quarterly price index for the average domestic property in Scotland fell by 3.7%.
"We are expecting a further correction in prices in the next couple of years, " said Mr. Loizou, who is in charge of the surveyor group's property price and rental index.
Joseph Carson, an economist with Deutsche Morgan Grenfell in New York, has concocted such an index, which considers changes in property prices and share prices, producer input and output prices, along with consumer prices.
ECONOMIST: Should central banks try to target asset-price inflation?
That lifted the share price of his Hong Kong-listed real estate-led flagship Wharf Holdings by 77% in 2012, triple the rise last year in the property-heavy Hang Seng stock index.
Drug companies were the most upbeat with an index reading of 80, followed by the property sector with a reading of 75 and then the food industry with a reading of 73.
FORBES: Asian Business Sentiment Continues Slide Thomson Reuters/INSEAD Survey Shows
The China Real Estate Index System (CREIS) data indicates that the property market is being supported by monetary policy easing, as well as efforts by the local governments to stimulate housing purchases.
Lloyds TSB Scotland's report also found that the Scottish House Price Monitor, a quarterly index of average house prices adjusted for location, property type and season, fell from 290 to 287 between November 2012 and January this year.
Real estate derivatives are a way for investors to gain exposure to the asset class without the need to buy or sell properties by replacing the exposure of the real property to the performance of a real estate return index.
It was first proposed 87 years ago by Irving Fisher, an American economist who believed that policy makers should try to stabilise a broadly defined price index which included asset prices such as shares, bonds and property as well as the prices of producer and consumer goods and services.
ECONOMIST: Should central banks try to target asset-price inflation?
The FTSE NAREIT Retail Capped Index Fund ( RTL) has 23.2% in Simon Property (SPG), 11.94% in Kimco Realty (NYSE:KIM) and 10.81% in Macerich Co. (NYSE:MAC) for a total of 45.95% of the ETF.
Egypt's main stockmarket index has sunk by a third since January, and a crash in property values, after an orgy of speculation in the mid-1990s, has landed banks with substantial bad debts.
Property-sector losses in Hong Kong were offset by strength for index heavyweight China Mobile, which ended up 0.5% after the world's biggest cellular service operator by subscribers reported a 5.2% increase in 2011 profit.
Hong Kong's Hang Seng Index also finished 0.3% higher at 22619.18, though there were declines in local property developers.
Since the market hit bottom in 2009, the value of property owned by REITs has gained 60% and is back to peak levels, according to an index compiled by Green Street Advisors.
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