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AsiaPac REITs Down 3% But Outperformed Equities

Healthcare Is Only Sector in Positive Territory; Hotel Falls 10.7%

By Jeroen Vreeker, Index Analyst for Global Property Research

Asia Pacific REITs began November 2021 positively, but concerns about the omicron variant of Covid-19 pushed the GPR/APREA Composite REIT Index into the red (-3.0%). Asia Pacific REITs nevertheless again outperformed regional equities (-3.7%). 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-3.0%-3.4%-1.2%-3.0%

HealthCare (0.4%) was the best-performing sector, also the only one in positive territory:


DIVHCRHOTINDOFFOTHRESRET
GPR/APREA Composite REIT Index-3.9%0.4%-10.7%-1.2%-3.3%n/a-5.9%-3.6%

During November 2021, Invesco Office J-REIT, Inc. (Japan) was removed as a constituent of the index following the closing of the JPY 22,750 (US$201) per share acquisition by IRE IOJ Godo Kaisha and MAR IOJ Godo Kaisha.

As a result of which the GPR/APREA Composite REIT Index contained 177 Asia Pacific REITs with a combined free float market capitalisation of US$328.3 billion as at November 30, 2021. Taiwan (0.7%) escaped from the negative momentum, with Japan (-3.7%), Malaysia (-4.0%), China (-4.3%), Singapore (-4.3%) and Thailand (-4.5%) dragged on the overall performance. Please find below the performances in USD terms of the GPR/APREA Composite REIT Index and country sub-set indices: