In a previous paper we examined the impact of liquidity on the valuation of European property shares, and determined that not only was there a strong relationship between liquidity and valuation post GFC but that it also had significant implications for fund raising and therefore a company’s ability to grow. In this paper we extend the study to include North American and Asian companies, thereby allowing for regional differences in the liquidity effect, and also accounting for local valuation preferences. In addition we also look at the relationship between the liquidity of a company and the level of equity and debt issuance pre and post GFC to determine whether there is a relationship.