Amid a more robust stance by the US Federal Reserve, Asian-listed REITs have generally ended October 2022 lower year-on-year, data from Global Property Research indicate.
But the most battered in the region are Hong Kong REITs, which declined by 15.5% during the month, amid continued uncertainty over its re-opening plans.
The territory is sticking to strict COVID-19-related restrictions and still requires inbound travellers from outside mainland China, Macao, and Taiwan to undergo a three-day medical surveillance period upon arrival in the country.
Accordingly, REITs listed in China are the next most affected given the 6.7% month-on-month decline during October 2022.
Meanwhile, Singapore REITs fell by about 5% over the same period, amid rising interest rates in the country.
The full report from Global Property Research can be accessed here.