Listed property companies rebound in July
Asia pacific listed real estate companies, along with global real estate companies, rebounded in July after a difficult second quarter, with the markets providing positive total returns of 1.2 percent and 2.1 percent, respectively, according to SNL Financial, with regional returns denominated back to US dollars and country returns in local currency. The modest rebound was a natural byproduct of the market’s prior overreaction to the impact of a potentially earlier end to US stimulus measures and the acknowledgement that, globally, inflation is still contained and the real estate asset class still provides an attractive income and growth mix. As a result of the July upswing, Asia Pacific listed real estate companies have clawed back some performance but are still down 1.4 percent for the year through July, still lagging global real estate returns of 4.6 percent.
REITs continued to fare worse than developers during July