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Asia Pacific REITs Reverse Almost Two-Thirds Of July 2022 Gains

Across the region, only Thailand REITs registered growth for the month; losses were seen in all sectors

by Jeroen Vreeker, Managing Director at Global Property Research

September 5, 2022 – The GPR/APREA Composite REIT Index dropped 3.8% in August 2022, reversing almost two-thirds of the July 2022 gains. 

At country level, Thailand (5.2%) was the only one in positive territory while Singapore (-3.7%), China (-5.0%) and Australia (-5.5%) were the biggest losers. 

Asia Pacific REITs also underperformed versus regional equities that only lost 0.9%. 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.


EURJPYLOCUSD
GPR/APREA Composite REIT Index-2.4%-0.2%-1.6%-3.8%

Looking at sector performances, none of the sectors managed to end the month positively with worst performers being Industrial (-3.8%), Office (-3.9%) and Residential (-4.6%):


DIVHCRHOTINDOFFOTHRESRET
GPR/APREA Composite REIT Index-2.6%-0.3%-2.7%-3.8%-3.9%n/a-4.6%-3.4%

The best-performing REITs were US Masters Residential Property Fund (AUS: 20.5%), Ally Leasehold REIT (THA; 15.2%), Hui Xian REIT (CHN; 10.7%), WHA Premium Growth Freehold and Leasehold REIT (THA; 8.8%) and Frasers Property Thailand Industrial Freehold & Leasehold REIT (THA; 7.4%). The worst performances came from Yuexiu REIT (CHN; -21.0%), Dasin Retail Trust (CHN; -14.6%), Arena REIT (AUS; -14.2%), Centuria Office REIT (AUS; -13.6%), and Lippo Malls Indonesia Retail Trust (IDN; -13.5%).