Asia’s real estate transaction volume fell 21 percent in the fourth quarter to US$17.8 billion from the earlier quarter, said Asia Pacific Real Estate Association (APREA).
However, the general upward momentum that started in early 2009 is continuing. “The majority of the transactions are coming from Australia, China, Hong Kong, Japan, Singapore and South Korea,” said Peter Mitchell, CEO of the association.
Globally, real estate trading volume jumped 40 percent in Q4 from Q3, with six Hong Kong-listed real estate investment trusts (REITs) making it to the top 20 REITs in terms of three-year returns, it said.
GZI REIT, a Singapore REIT and a Taiwanese fund shared the top spot with a 23.35 percent return in the three years up to 31 December. Meanwhile, Link REIT ranked seventh with a 19 percent return.
REITs have more room for growth in Asia as they comprise only five percent of the region’s equity, said Mr. Mitchell.