Residential Sector Takes Lead As Asia Pacific REITs Rises In April
By Jeroen Vreeker, Managing Director at Global Property Research
May 3, 2023 – The GPR/APREA Composite REIT Index recovered from the previous month’s 2.3% decline and closed 2.2% higher in April 2023.
At the country level, the regional total return performances were a mixed bag with Australia (4.0%), Japan (2.8%), and Singapore (0.4%) finishing the month in the black. Hong Kong (-1.8%) was at the back of the pack. Asia Pacific REITs outperformed regional equities causing year-to-date total return performances to tend towards each other, as the graph above shows:
The table below shows the total return performances realised in the previous month for the various currencies available for the GPR/APREA Composite REIT Index.
| EUR | JPY | LOC | USD | |
| GPR/APREA Composite REIT Index | 0.6% | 4.6% | 3.7% | 2.2% |
With the exception of Healthcare (-1.4%), the relevant sectors contributed to the overall benchmark’s total return performance, with Residential (7.0%) in the lead:
| DIV | HCR | HOT | IND | OFF | OTH | RES | RET | |
| GPR/APREA Composite REIT Index | 2.0% | -1.4% | 3.1% | 3.3% | 0.9% | n/a | 7.0% | 1.7% |
The comprehensive GPR/APREA Composite REIT Index covered 184 Asia Pacific REITs with a combined free-float market capitalisation of US$274.7 billion as at April 28, 2023.
