Asia Pacific REITs and listed property rebound in September
After experiencing a number of difficult months due to the negative impact of the prospect of globally higher interest rates and the continued sell-off of income-orientated investments, listed real estate companies rebounded in September. Regionally, Asia Pacific listed real estate companies jumped 6.2 percent during the month, slightly ahead of global listed real estate’s return of 5.5 percent, with regional returns denominated back to US dollars and country returns in local currency. After bearing the brunt of the prior sell-off due to their higher yields, REITs lead the region higher, up 8.1 percent, with REITs outperforming developers in the major markets of Hong Kong, Japan and Singapore. As a result, Asia Pacific listed real estate companies are now in positive total return territory for the year, up 3.0 percent, but continue to lag global real estate returns of 5.4 percent.
Among the major countries in the region, Japan returned close to top