Asia Pacific REITs Recorded a 4.8% Decline in April

Negative performances were seen across all sectors during the month

By Jeroen Vreeker, Managing Director at Global Property Research

May 5, 2022 – The unit prices of Asia Pacific REITs fell in April, with the GPR/APREA Composite REIT Index recording a 4.8% loss in USD terms. China fell 5%, and Japan was down 7.4%. Their poor performances negatively impacted the regional average. 

Still, the GPR/APREA Composite REIT Index outperformed Asia Pacific equities, which fell 6.4%. 

The table below shows the total return performances for the GPR/APREA Composite REIT Index realised in the previous month and the first quarter for the various currencies.

	EUR	JPY	LOC	USD
GPR/APREA Composite REIT Index	0.4%	1.6%	-0.1%	-4.8%

The table below shows the total return performances for the various sectors recorded in April 2022. Among the worst-performing sectors were Office (-5.9%), Diversified (-5.9%) and Residential (-6.0%).

	DIV	HCR	HOT	IND	OFF	OTH	RES	RET
GPR/APREA Composite REIT Index	-5.9%	-4.4%	-0.8%	-5.6%	-5.9%	n/a	-6.0%	-3.0%

The comprehensive GPR/APREA Composite REIT Index covered 182 Asia Pacific REITs with a combined free-float market capitalisation of US$313.5 billion as of April 29, 2022. Following the merger of ARA LOGOS Logistics Trust (Singapore) with ESR-REIT (Singapore), ARA LOGOS was removed from the GPR/APREA Composite REIT Index from April 22, 2022.