Hot property



Property derivatives, once an obscure sideline within some UK banks and brokers, has now grown into a thriving market. In 2005, real estate specialists put the market size at around £100 million a year. Estimates now run at up to £1 billion, with the consensus at £700 million-800 million. The Investment Property Database (IPD), a London-based property data company whose all-property index (API) underlies the total return swaps that make up the bulk of the UK property derivatives market, will