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  • 美国即将进行总统大选,全球经济复苏仍存在许多不定因素,而投资者多出于风险规避心理,九月地区内地产股票出现下滑。
  • 九月GPR/APREA综合房地产投资信托指数下挫1.4%,终止了自四月以来的涨势,表现逊于大盘,后者下跌1.1%。
  • 在低利率,高负债能力的支持下,地区房产信托雄心勃勃,逐渐恢复停滞的交易。根据房地产资本分析公司Real Capital Analytics数据显示,就收购体量而言,第二季度体量为2010年以来的历史最低值,而第三季度地区房产信托收购总额超41亿美元。
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The region’s property stocks lost ground in September as risk aversion gripped investors. ahead of a US Presidential election and continued concerns that a global economic recovery remains volatile.

The GPR/APREA Composite REIT Index lost 1.4% in September, snapping a string of monthly gains since April, underperforming the wider market which declined by a smaller 1.1%.

Supported by low interest rates and higher debt capacity, the region’s REITs are turning acquisitive and resuming stalled deals. According to Real Capital Analytics, the region’s REITs expended over US$4.1 billion in acquisitions in the third quarter, after posting a record low quarterly volume in the second quarter since 2010.

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Please find the constituents changes for the following GPR/APREA index series, which will become effective as of 21 September 2020 (start of trading):

  • GPR/APREA Investable 100 Index
  • GPR/APREA Investable REIT 100 Index
  • GPR/APREA Composite Index
  • GPR/APREA Composite REIT Index (indicated with an asterisk)

GPR/APREA Investable 100 Index

Inclusions

AUS Waypoint REIT Limited
HKG ESR Cayman Ltd
VNM Yungshin Construction & Development Co

 

Exclusions

PHL SM Prime Holdings Liquidity too low
THA Amata Corp PCL Liquidity too low

 

GPR/APREA Investable REIT 100 Index

Inclusions

AUS Centuria Industrial REIT
IND Embassy Office Parks REIT

 

Exclusions

JAP Healthcare & Medical Investment Corporation Liquidity too low
SGP SPH REIT Liquidity too low

 

GPR/APREA Composite Index

Inclusions

AUS AVJennings Ltd
SGP United Hampshire US REIT *
TWN ReaLy Development&Construction Corp

 

Exclusions

None

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The following preliminary constituent changes to the GPR 250 Index and GPR 250 REIT Index (indicated with an asterisk) will become effective as per 21 September 2020 (start of trading).

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本月的报告将探讨亚太各地区上市房地产股票及房地产信托如何受疫情所影响以及对其未来的展望。

工业类房产信托是今年的一匹黑马,然而,它在8月份出现了轻微下滑。拥有工业资产的房产信托在后疫情时代保持了很好的弹性,而零售与酒店业的房产信托则因为疫情受到很大冲击。在实施社交隔离期间投资于酒店、零售和办公场所的房产信托受影响最大,但在8月,它们成了表现最好的版块。

8月份,亚太区上市房地产股票表现突出,优于其他资产类别的市场表现。地产市场的强势复苏也引起了中国当局的注意,为了进一步控制债务增长,相关部门发布了有关债券发行的新指南。6月份房价增长速度达到了过去十个月以来的最高点,这也暗示了即将采取全新的房价控制措施。

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