The significance of logistics REITs as an institutionalised property sector in the Asia-Pacific

Robbie Lin and Chyi Lin Lee

ERES from European Real Estate Society (ERES)

Abstract: Logistics properties have been an increasingly institutionalised property sector in the Asia-Pacific property investment space. It was mostly driven by the strong economic expansion and demographic population growth in the Asia-Pacific. Particularly, e-commerce continues to drive the demand for warehouse space that forms the key driver of logistics properties. The purpose of this paper is to assess superior risk-adjusted performance and portfolio diversification benefits of logistics REITs in Australia, Japan and Singapore over July 2009 - December 2018. To reflect the actual property allocation and major asset classes allocation within institutional investors’ holdings, this study deploys a constrained asset allocation analysis. The preliminary results suggest that logistics REITs as the value-added and strategic role in a mixed-asset portfolio to institutional investors seeking property investment in the Asia-Pacific. The practical property investment implications for logistics properties as an institutionalised property sector are also identified.

Keywords: Asia-Pacific; E-commerce; Institutional Investors; Logistics REITs; Risk-Adjusted Performance (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2019-01-01
New Economics Papers: this item is included in nep-sea and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:eres2019_124

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