Institutional Real Estate Asia Pacific

July 1, 2013: Volume 5, Number 7

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From the Current Issue

Asia Pacific

Listed real estate companies lose steam in May

Asia Pacific listed real estate companies, along with global real estate companies, had a difficult May, with the markets providing negative returns of 9.2 percent and 4.5 percent, respectively, according to SNL Financial, with regional returns denominated back to US dollars and country returns in local currency.

Asia Pacific

Lend to me: Access to debt has improved for many Asia Pacific real estate markets

The lending environment across the Asia Pacific region remains relatively positive, with improvement seen in most markets during the past year. Access to debt has improved in a number of markets, and lending margins have for the most part sharpened. Banks continue to demonstrate an appetite for providing senior debt against quality assets, although with conservative loan to values (less than 60 percent) on typical three- to five-year terms.

Asia Pacific

Early days: Opportunities and challenges abound for Myanmar

In May, I had the opportunity to attend the Myanmar Urban Development Conference in Yangon, Myanmar. As head of our Asia Pacific operations I follow new developments in Asia, and this conference attracted my attention from several important angles. The conference was organised by Sphere Conferences, a subsidiary of Singapore Press Holdings, the largest publishing and media company in Singapore and one of the largest in Asia.

Asia Pacific

Fundraising volume slows after big fourth quarter

Fundraising activity dropped sharply during the first quarter of 2013 compared with the high volume posted during last year’s fourth quarter. During the first three months of the year, 21 real estate funds announced final closings, with an aggregate equity haul of US$7.6 billion, according to the latest issue of Institutional Real Estate FundTracker.

Asia Pacific

Japan’s monetary easing encourages property investment

Allocations to Japan’s equity market are at their highest since May 2006, with a “net 31 percent of global asset allocators overweight to Japanese equities,” according to the May 2013 BofA Merrill Lynch Global Fund Manager Survey. This is due in large part to a ¥10.3 trillion (US$106 billion) stimulus package passed by Prime Minister Shinzo Abe to revive Japan’s stagnant economy, and property stock investors are noticing the change (see “The music makers”).

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