Asia Pacific REITs Record 2.3% Loss In The Third Quarter
Industrial REITs down 6.8% in September but up 0.2% in the third quarter
By Jeroen Vreeker, Index Analyst for Global Property Research
October 5, 2021 – Asia Pacific REITs finished the third quarter of 2021 2.3% lower in USD terms, with the GPR/APREA Composite REIT Index losing 3.9% in September 2021.
Taiwan managed to eke out a gain last month, rising 0.2%. In other regions, losses ranged from -1.7% for Malaysia to -9.5% for Thailand. The GPR/APREA Composite REIT Index underperformed regional equities in September, which fell 1.8%. However, in the third quarter, REITs fell less than equities with the GPR/APREA Composite REIT Index down 2.3% versus the equities -4.3%. The table below shows the total return performances realised in the previous month and in the third quarter for the various currencies available for the GPR/APREA Composite REIT Index.
|GPR/APREA Composite REIT Index||-2.1%||-2.4%||-2.7%||-3.9%|
|GPR/APREA Composite REIT Index||-0.1%||-1.8%||-0.8%||-2.3%|
Taking the sector perspective, the September 2021 losses (see below) ranged from -1.6% for Hotel to -6.8% for Industrial:
|GPR/APREA Composite REIT Index||-2.7%||-4.4%||-1.6%||-6.8%||-2.9%||n/a||-5.5%||-2.5%|
The total return performances realised in the third quarter (see below) for the various sectors available for the GPR/APREA Composite REIT Index are representative of the negative momentum with only Industrial (0.2%) returning a marginal gain.
|GPR/APREA Composite REIT Index||-2.4%||-1.2%||-2.1%||0.2%||-2.4%||n/a||-3.3%||-3.6%|
The comprehensive GPR/APREA Composite REIT Index covered 178 Asia Pacific REITs with a combined free float market capitalisation of US$333.8 billion as at September 30, 2021. Following the latest quarterly rebalancing of the GPR/APREA index series, which took effect on September 20, 2021, ESR Kendall Square REIT (South Korea) was added to the GPR/APREA Composite REIT Index.