Publications

- May 1, 2019: Vol. 11, Number 5

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Reacceleration seen in March property stock performance

by Christopher Hartung

After pausing slightly in February, both Asia Pacific and global property stocks regained momentum in March on the back of continued dovish commentary by the US Federal Reserve, which drove government bond yields lower and, in turn, elevated the yield-orientated real estate sector. In addition, the performance of the Asia Pacific region was also bolstered by better-than-expected economic data and government stimulus measures coming out of China. As a result, Asia Pacific property stocks outperformed global property stocks during the month, with 6.8 percent and 4.6 percent total returns, respectively. This performance was also substantially ahead of global equities, which only returned 1.7 percent in March. For first quarter 2019, Asia Pacific property stocks have returned a stunning 15.8 percent as compared with global property stocks, at 13.8 percent, and broader global equities (MSCI World Index), at 12.8 percent (with property stock returns based on S&P Global Intelligence da

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