REIT AsiaPac

Sign up for our newsletter

AsiaPac REITs follow regional equities down 11.8% in September

AsiaPac REITs follow regional equities down 11.8% in September

Industrials down sharply while the hotel sector showed resilience as countries eased Covid restrictions to allow travel

By Jeroen Vreeker, Managing Director at Global Property Research

Oct 5, 2022 – Asia Pacific REITs, as measured by the GPR/APREA Composite REIT Index, fell 11.8% in September, in line with the 11.8% fall in equities.

This double-digit decline in September 2022 brought the total return performance for the third quarter to -9.8% and to -25.1% year-to-date. 

The third-quarter drop was despite a 6.3% gain for the broadest regional REIT index series in July 2022. However, July’s gains were outweighed by negative returns in August 2022 (-3.8%) and September 2022 (-11.8%) respectively.

Australia (-18.2%), Hong Kong (-12.3%) and China (-12.2%) turned out to be worst performers in September 2022. 

Relative to equities, Asia Pacific REITs showed outperformance in the third quarter, falling -9.8% versus equities’ -11.0%. 

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

There was no refuge to be found in sectors as the table below indicates

The comprehensive GPR/APREA Composite REIT Index covered 182 Asia Pacific REITs with a combined free float market capitalisation of USD 250.3 billion as at September 30, 2022.

USD-denominated data as per September 30, 2022