- April 2014 Vol.6 No.4

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Asia Pacific public real estate returns edge up in February

by Christopher Hartung

After a tough start to the year in January, the Asia Pacific region experienced a relatively docile February with the region returning 0.9 percent, and marked the first month of positive returns since October 2013, according to SNL Financial, with regional returns denominated back to US dollars and country returns in local currency. While the regional index was positive, due to a low index weighting, the results mask a difficult start to the year for Chinese listed real estate stocks, down 7.2 percent (based on the Shanghai Property Index) in February due to concerns over tighter financing markets for developers and slowing property sales.

In general for the region, and also consistent with global real estate performance patterns, REITs outperformed developers during February, as the REITs were beneficiaries of the market’s appetite for less risk in the face of slowing growth concerns and rising Ukraine/Russia tens

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