3.2% yield which likely is real yield as it grows with inflation in the long term. And the underlying property price also growth with inflation (with incomes, r

3.2% yield which likely is real yield as it grows with inflation in the long term. And the underlying property price also growth with inflation (with incomes, really, so higher than inflation). So 3.2% real yield - which is not much lower than the earnings yield on stocks, but with the ability to go heavily leveraged without being exposed to the rapid margin calls in equities. (It's no surprise that many multi-millionaires got their start by developing/renting out property.)