The GPR/APREA Asia Pacific Performance Snapshot tracks the dynamics of listed real estate securities (including REITs) across 12 Asia Pacific countries, and eight sectors over multiple time horizon.
The following asset classes are covered:
Listed real estate (including REITs): GPR/APREA Composite Index
Mainland China listed real estate stocks led the larger property markets in November. Chinese investment into real estate grew 10.2% in the first 11 months, with residential property investment increasing 14.4% annually. (Source: China National Bureau of Statistics)
Malaysia’s listed real estate equities and REITs were top performers among mid and smaller markets. Malaysia's budget for 2020 tabled in October pointed to two positive signs for real estate: the reduction of the Real Property Gains Tax (RPGT) for property acquired before 2013 and the depletion of foreigners’ minimum acquisition value threshold for primary high-rise residential property ownership.
Mainland China listed real estate stocks outperformed the broader market in October. Its property market partly benefited from looser policy actions. Additionally, there were some fine-tuning of policies towards easing at the city level while some developers offered price discounts to move sales during "Golden September, Silver October" peak season.
J-REITs continued to lead the larger REIT markets, posting the highest returns in October and on a one-year rolling basis.
Taiwan’ s REITs were top performers among smaller REIT markets. Taiwan’s strong GDP upturn provided a positive backdrop for real estate investments. The “Action Plan for Welcoming Overseas Taiwanese Businesses to Return to Invest in Taiwan” attracted capital investments into Taiwan. Taipei’s office vacancy rate is at its lowest level since 2009, helped by the paucity of new supply.
