Market Update for January 2019
Asia Pacific REITs show outperformance versus broader equities in January 2019
By Jeroen Vreeker, Analyst, Global Property Research
The comprehensive GPR/APREA Composite REIT Index, which covered 166 Asia Pacific REITs as at 31 January 2019, recorded a 7.5% gain in USD terms, and as such outperformed the broader equities with the comparable MSCI AC Asia Pacific Index adding 6.8%. 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.
| EUR | JPY | LOC | USD | |
| GPR/APREA Composite REIT Index | 7.1% | 6.6% | 5.8% | 7.5% |
The companies classified as Diversified and Residential were winners in January 2019, both delivering a 9.2% total return performance. Office (6.8%), Industrial (6.4%) and Retail (5.9%) posted below-average total return performance.
| DIV | HCR | HOT | IND | OFF | OTH | RES | RET | |
| GPR/APREA Composite REIT Index | 9.2% | 8.4% | 8.3% | 6.4% | 6.8% | 7.7% | 9.2% | 5.9% |
The January 2019 returns showed no losses for the country carve-outs with Singapore (9.6%), Australia (9.2%) and Hong Kong (8.0%) doing better-than-average. The remaining gains ranged from 6.2% for China to 4.0% for Taiwan. Please find below the performances in USD terms of the GPR/APREA Composite REIT Index and country sub-set indices:
