Nov 16 -- Sentiments in the Real Estate Investment Trust (REIT) market have improved over the past one month, according to the Asia -Pacific Real Estate Association (APREA), which promotes and represents the real estate asset class in Asia. In its latest Asia-Pacific REITs monthly report, it said most REIT markets were able to regain some of their year-to-date losses.

 Over a three-month and a one-year horizon, equities and other asset classes, the majority of the REIT markets were down due to concerns over the sustainability of the recovery in the West and the issues in Europe. "Notwithstanding the short-term market volatility, several listed real estate funds around the region have managed to raise capital this year," said APREA chief executive officer Peter Mitchell. Mitchell said the Asia-Pacific REITs, as an asset class, have withstood external shocks from Europe and elsewhere relatively well.

"There are a number of reasons for this, including overall conservative gearing and general lack of exposure to European banks," he said. On market capitalisation, Mitchell said, beginning this month, the Asia-Pacific REIT market capitalisation was US$168.9 billion, with 191 REITs. "This is up from US$156.8 billion at the end of 2010," he said.

Excluding Australasia, the Asian REITs' market capitalisation at the start of this month was US$93 billion, with 132 REITs. "This compared to US$86.6 billion at the end of last year," he added. -- BERNAMA