The GPR/APREA Composite Listed Real Estate Index finished July just above water, returning just 0.3%, as real estate stocks in the region slowed from its June performance. Hong Kong’s stocks finished July 5.7% lower, down from a 12.2% gain in June, as a resurgence in COVID-19 infections in the territory prompted the government to reintroduced social distancing measures. Declines also accelerated in regional heavyweight, Japan. However, stocks in China bucked the trend, sustaining another month of gains that had been sparked off by recovering home sales in June. The region’s REITs registered its fourth consecutive monthly gains (+3%), which came on the back of sustained outperformance by Industrial REITs. However, they continued to lag the broader market, which posted a return of 4.6%.
Connect with us on
Connect with us on
