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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.


EURJPYLOCUSD
GPR/APREA Composite REIT Index0.4%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%).


DIVHCRHOTINDOFFOTHRESRET
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.