The Growth of REIT Markets in Asia

Authors: Joseph T. L. Ooi,  Graeme Newell and Tien-Foo Sing

Start Page: 203
End Page: 222
Volume: 14
Issue Number: 2
Year: 2006
Publication: Journal of Real Estate Literature

Abstract: Real Estate Investment Trusts (REITs) emerged in Asia in 2001, with Japan and  Singapore as the market leaders. South Korea, Taiwan, Hong Kong and Malaysia have also launched REITs. This paper examines these REIT markets. The paper first examines the background of macroeconomic, financial market and real estate market development. The driving forces for REIT development on the supply and demand sides, government initiatives and market obstacles are also discussed. The initial performance of Asia REITs will be reviewed and contrasted with the common stocks in the respective markets. Finally, the future prospects of Asia REITs are assessed.