The GPR/APREA Composite Listed Real Estate Index finished July just above water, with returns of 0.3 percent, as real estate stocks in Asia Pacific slowed from their June performance.
Hong Kong’s stocks finished July 5.7 percent lower, down from a 12.2 percent gain in June, as a resurgence in COVID-19 infections in the territory prompted the government to reintroduced social distancing measures. Declines also accelerated in regional heavyweight, Japan. However, stocks in China bucked the trend, sustaining another month of gains that had been sparked by recovering home sales in June.
The region’s REITs registered their fourth consecutive monthly gains (+3 percent), which came on the back of sustained outperformance by industrial REITs. However, REITs continued to lag the broader market, which posted a return of 4.6 percent.
REITs in Singapore led the pack, with returns of 4.5 percent, followed by Taiwan (+1.3 percent); while the rest underperformed with flat
