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Asia Pacific REITs Rise 6.3% In A Turnaround Rally

The Industrial and Healthcare sectors posted the strongest recovery during the month

By Jeroen Vreeker, Managing Director at Global Property Research

August 3, 2022 -Asia Pacific REITs rebounded in July 2022 (6.3%) following steep losses in the last three months – April (-4.8%), May (-1.6%) and June (-8.0%). 

The best performing countries – as represented in the GPR/APREA Composite REIT Index – were Australia (12.6%), Japan (4.8%) and Singapore (3.6%); both China (-2.9%) and Thailand (-5.7%) lost. There was outperformance for the GPR/APREA Composite REIT Index versus regional equities that only managed to take back 1.8% of lost territory in July 2022. 

The table below shows the total return performances realized in the previous month for the various currencies available for the GPR/APREA Composite REIT Index.


EURJPYLOCUSD
GPR/APREA Composite REIT Index9.0%4.5%5.1%6.3%

Looking at sector performances, the recovery was most pronounced in Industrial (8.5%) and Healthcare (7.3%). The hotel sector, meanwhile, posted the softest recovery during the period:


DIVHCRHOTINDOFFOTHRESRET
GPR/APREA Composite REIT Index5.3%7.3%2.0%8.5%4.2%n/a6.2%5.9%

The best-performing REITs were HealthCo Healthcare and Wellness REIT (AUS: 22.0%), Newmark Property REIT (AUS; 20.3%), Ingenia Communities Group (AUS; 15.4%), Goodman Group (AUS; 14.9%) and National Storage REIT (AUS; 14.4%). 

The worst performances came from Hui Xian REIT (CHN; -19.6%), Australian Unity Office Fund (AUS; -15.4%), IMPACT Growth REIT (THA; -10.4%), ESR Kendall Square REIT (KOR; -7.5%), and LOTTE REIT (KOR; -7.4%).