Shares in the UK’s top property companies have significantly risen in value just days before REIT legislation takes effect

Demand for shares from companies poised to convert into the tax-efficient vehicles has risen considerably since Boxing Day. Land Securities and British Land have benefited the most from investors wanting to buy before the 2 January conversion day.

Land Securities has seen its share price rise 59p to 2,299p a share since Boxing Day, while British Land shares have risen 58p to 1,718p.

Of the other major UK property companies to become REITs, Hammerson saw its shares rise 18p to 1,575p a share, Liberty International’s rose 26p to 1,392p a share, Slough Estates shares rose 13p to 788p a share and Brixton’s shares rose 7p to 576.5p a share.

The biggest gains were seen on the 27 and 28 December, with some shares slipping back slightly today, the last day of trading before conversion.