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The GPR/APREA Composite Index increased by 0.84% in March 2017. The Composite REIT Index slipped by 0.32% over the same period. Asia Pacific (APAC) equities grew by 1.77%, while the APAC bonds market expanded by 0.89%.

Notwithstanding the demonetisation of high-value currency notes in November 2016, the economy recovered faster than expected and early projections suggest a growth of 7.1% in the fiscal year ending March 2017.

The total number of properties put up for auction increased 9.8 per cent quarter-on-quarter (q-o-q) or 34.8 per cent year-on-year (y-o-y) to 190 properties in Q1 2017. Eight properties went under the hammer; total sales value decreased 67.8 per cent q-o-q to $15.23 million, although this represented an increase of 58.3 per cent from Q1 2016 ($9.62 million).