REITs in Taiwan and China Surprise on the Upside in October
All REIT sectors were down with retail the hardest hit
by Jeroen Vreeker, Global Property Research
November 4, 2020 – The coronavirus pandemic continued to impact the total return performance for Asia Pacific REITs in October. Ultimately, the GPR/APREA Composite REIT Index finished 4.2% lower, underperforming regional equities, which were up 1%. The table below shows the total return performances realised in the previous month for the various currencies available for the GPR/APREA Composite REIT.
|
| EUR | JPY | LOC | USD |
| GPR/APREA Composite REIT Index | -3.5% | -5.1% | -4.1% | -4.2% |
In terms of country performances, Taiwan (0.1%) and China (2.8%) were the only REIT jurisdictions that managed to stay in the positive territory during the month. Other country index series were down, ranging from -2.7% for Australia to a double-digit contraction (-10.5%) for Thailand.
In terms of sector performances, retail was the hardest-hit with a contraction of 5.9%. industrial REITs, on the other hand, were the best performing sector during the month with a contraction of 2%. All other REIT sectors registered declines for the period.
|
| DIV | HCR | HOT | IND | OFF | OTH | RES | RET |
| GPR/APREA Composite REIT Index | -5.2% | -3.0% | -2.3% | -2.0% | -5.1% | n/a | -2.1% | -5.9% |
Following the removal of CapitaLand Commercial Trust (Singapore) as a result of the merger with and into CapitaLand Mall Trust (Singapore) and the subsequent renaming to CapitaLand Integrated Commercial Trust, the GPR/APREA Composite REIT Index covers 164 Asia Pacific REITs with a combined free-float market capitalization of USD 268.8bn as at October 31, 2020.
