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The physical impacts of climate change on the built environment are becoming more significant and have the potential to be extremely costly. With their locations fixed, buildings themselves may be at risk of suffering significant damage costs from climate change impacts. More so, buildings are often energy-intensive to build and operate. They are responsible for over a third of global final energy consumption and CO2 emissions, with operational emissions mostly through space heating and cooling, and water heating (IEA, 2019). MSCI’s scenario analysis for commercial and residential real estate enables investors and real estate managers to evaluate both transition and physical climate-related impacts in their portfolios.

Find out more about MSCI Real Estate Climate Value-at-Risk solution 这里

  • 在疫情近期数量下降以及各地区经济体分阶段重新开放的背景下,5月的亚太REIT赢大盘。整个亚太地区正在采取积极的财政应对措施,包括对受社会疏远政策和出行限制最大的部门以及对中小企业的进一步救助。
  • 按部门划分,工业仍然是表现最好的行业,5月份以数字形式增长。按国家来划分,由于住宅和工业部门产生了可观的回报,澳大利亚的房地产股票表现堪比大城市。
  • 5月,日本房地产投资信托基金(REITs)在酒店和零售业的推动下领先亚太其他地区。日本国会下议院通过了一项紧急预算,其中包括针对中小企业的关税,因此对办公部门而言是个好兆头。在工业和零售业投资信托基金的强劲表现的推动下,新加坡房地产投资信托基金也跑赢了股市。

Along with the improving COVID-19 situation in Hong Kong and the return to normal economic activity, market sentiment has improved, with a higher level of leasing activity in the office market. Most of the new leases in Central were premises of no more than 10,000 sq ft, while isolated new leases of larger areas were found outside the CBD area. With no quick escape in sight for COVID-ravaged economies, many tenants continued to look for costsaving solutions, which include rental abatement, rental deferment or lease restructuring to ease their financial pressure. But rental reductions were seen mainly for office tenants with a retail presence and were implemented only on a case-by-case basis.

新冠疫情的影响波及整个房地产投资信托基金(REITs)领域。然而,不同行业受疫情本身以及为应对疫情而采取的行为和措施的影响程度各不相同。尽管截至撰稿时,REITs可能已被超卖,但不同类型物业的定价已出现分化,这或许预示着私募市场价值的未来走向。.

请查看 GPR/APREA 指数的成分股变更,这些变更将于 2020 年 6 月 22 日(交易开始日)生效。. 

The COVID-19 pandemic has brought much of the world and many of the key gateway markets in Asia that we discuss in this paper, to a near standstill. It has been an almost domino effect, where the health crisis has led to an economic and financial crisis. However, out of crisis can emerge new and interesting opportunities, as can be seen in the GDP forecast for 2020 and 2021, with China and Hong Kong, in particular indicatively forecasting the widest jump of over 700 bps – a clear indication of economic growth potential and the opportunities that will come with it.

尽管全球大部分地区的房地产市场增速放缓,并在今年第二季度加速恶化,但中国两座全球重点城市的购房趋势却转为积极态势。全球房地产交易量从今年3月左右开始下滑,但亚太地区的疲软态势早已显现,该地区十大都市区在第一季度均出现两位数跌幅。相比之下,欧洲和美国超过半数的重点都市区交易量出现增长,这得益于第二季度后期实施的经济停摆和旅行限制措施。.

India Real Estate: What changed due to Covid-19? 

1. Raw material supply chains disrupted

• Construction requires more than 200 items

• Dependence on China for elevators, steel, etc.

• Limited availability and possible hike in raw material prices

We are presently living in unprecedented times and Covid-19 has – in more ways than one – altered the way we live, think, work, or even socialize with people around us. However, there lies an opportunity in every crisis and Covid-19 looks no different. All industries including Indian real estate are now diligently working to innovate and strategize their business. Among the key noticeable trends already, Indian residential sector is all set to embark on a different growth trajectory with ‘home ownership’ gaining significant preference among the new-age millennials, probably because it renders high level of security.

Investment in China’s commercial market was already proving challenging towards the end of 2019 as fundamentals that had supported demand were softening while new supply was pushing up vacancy rates in many markets. This, combined with low yields, made underwriting deals problematic unless there was significant add-value or specific area support, such as new infrastructure or master planning.