Upload
others
View
0
Download
0
Embed Size (px)
Citation preview
0
100000
200000
300000
400000
500000
600000
700000
800000
1/22/20 2/21/20 3/22/20 4/21/20 5/21/20 6/20/20
Co
nfi
rmed
Cas
es
Australia China Singapore Hong Kong South Korea Japan India Malaysia
India
Singapore
China
as of 4 July
Source: John Hopkins updated as of July 04, 2020
Source: John Hopkins
Source: RCA, Bloomberg updated as of June 30, 2020
-
5,000
10,000
15,000
20,000
25,000
Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20
US$
mill
ion
Asia-Pacific (2019 to date)
Source: RCA, Bloomberg updated as of June 30, 2020
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
China Japan South Korea Australia Hong Kong Singapore Taiwan
US$
mill
ion
s
Commercial Tranasction (U$mn) 5Yr Ave
46%vs. 5YR Ave Vol. 41%
vs. 5YR Ave Vol. 72%vs. 5YR Ave Vol.
27%vs. 5YR Ave Vol.
21%vs. 5YR Ave Vol.
19%vs. 5YR Ave Vol. 32%
vs. 5YR Ave Vol.
Country Breakdown (YTD)
Source: RCA, Bloomberg updated as of June 30, 2020
•
•
Sector Breakdown
Office 50%
Industrial 16%
Retail 19%
Hotel 6%
Apartment 9%
2020 YTD
Office 49%
Industrial 14%
Retail 24%
Hotel 8%
Apartment 5% 5Yr Average
Source: RCA, Bloomberg updated as of June 30, 2020
Cross-Border Capital Source
United States 36%
Hong Kong, SAR, China 9%Singapore
22%
China 11%
Germany 11%
Canada 1%
United Kingdom 9%
South Korea 1%
2020 YTD
United States 30%
Hong Kong, SAR, China 19%
Singapore 19%
China 15%
Germany 5%
Canada 7%
United Kingdom 3%
South Korea 2%
5YR Average
Source: RCA, Bloomberg updated as of June 30, 2020
•
•
•
A look at APAC capital into Australia
0
1
2
3
4
5
6
1Q10 1Q11 1Q12 1Q13 1Q14 1Q15 1Q16 1Q17 1Q18 1Q19 1Q20
US$
bill
ion
ns
APAC Capital Into Australia
Source: John Hopkins
Source: RCA, Bloomberg updated as of June 30, 2020
REITs Returns
1M 3M 6M YTD
Singapore -1.5% 13.3% -8.8% -8.8%
Malaysia 1.2% 4.4% -4.3% -4.3%
Hong Kong 8.2% -4.5% -24.5% -24.5%
Australia -1.5% 21.5% -16.2% -16.2%
Japan -2.0% 4.5% -22.3% -22.3%
Source: RCA, Bloomberg updated as of June 30, 2020
Singapore 1M 3M 6M YTD
Overall -1.5% 13.3% -8.8% -8.8%
Office -1.4% 12.9% -6.1% -6.1%
Retail -2.5% 8.5% -20.9% -20.9%
Industrial -1.3% 17.7% 4.9% 4.9%
Diversified 2.7% 16.3% -22.0% -22.0%
Rank REITMarket Cap
(S$ bn)1M 3M 6M YTD
1 Ascendas REIT 11.8 1.3% 12.0% 6.7% 6.7%
2 Mapletree Log Tr 7.7 -5.4% 22.8% 11.5% 11.5%
3 CapitaMall Trust 7.6 -3.4% 9.5% -20.3% -20.3%
4 CapitaCom Trust 6.9 -3.4% 10.5% -15.1% -15.1%
5 Mapletree Com Tr 6.6 -3.5% 5.5% -19.2% -19.2%
Source: RCA, Bloomberg updated as of June 30, 2020
Australia 1M 3M 6M YTD
Overall -1.5% 21.5% -16.2% -16.2%
Office -3% 7% -29% -29%
Retail -4% 32% -38% -38%
Industrial -3% 22% 9% 9%
Diversified 0% 18% -23% -23%
Specialty 5% 34% -8% -8%
Rank REITMarket Cap
(A$ bn)1M 3M 6M YTD
1 Goodman Group 28.9 -3% -3% -3% -3%
2 Scentre Group 11.7 -3% -3% -3% -3%
3DEXUS Property
Group10.4 2% 2% 2% 2%
4 Mirvac Group 9.0 -8% -8% -8% -8%
5 GPT Group 8.6 5% 5% 5% 5%
Source: RCA, Bloomberg updated as of June 30, 2020
Hong Kong 1M 3M 6M YTD
Overall 8% -5% -25% -25%Retail 0% 4% -9% -9%Diversified 3% -3% -30% -30%
Rank REIT Market Cap (HK$ bn) 1M 3M 6M YTD
1 LINK REIT 134 9% -4% -23% -23%
2 CHAMPION REIT 25 15% -14% -22% -22%
3 FORTUNE REIT 14 1% -3% -23% -23%
4 HUI XIAN REIT 13 2% -4% -34% -34%
5 YUEXIU REIT 12 1% -8% -33% -33%
Source: RCA, Bloomberg updated as of June 30, 2020
Malaysia 1M 3M 6M YTD
Overall 1% 4% -4% -4%
Office 3% 3% -1% -1%
Retail 0% 4% -9% -9%
Rank REITMarket Cap (MYR
bn)1M 3M 6M YTD
1KLCC REAL ESTATE INVESTMENT
TRUST14.4 3% 2% 1% 1%
2IGB REAL ESTATE INVESTMENT
TRUST6.2 2% 13% -5% -5%
3PAVILION REAL ESTATE
INVESTMENT TRUS5.0 -4% 1% -8% -8%
4SUNWAY REAL ESTATE INVESTMENT
TRUST4.8 1% 2% -11% -11%
5AXIS REAL ESTATE INVESTMENT
TRUST2.3 0% 13% 16% 16%
Source: RCA, Bloomberg updated as of June 30, 2020
Australia 1M 3M 6M YTD
Overall -2% 4% -22% -22%Office -6% -9% -25% -25%Retail -3% 11% -35% -35%Industrial 6% 21% 13% 13%
Diversified -2% 2% -26% -26%
Rank REITMarket Cap
(JPY bn)1M 3M 6M YTD
1 NIPPON BUILDING FUND INC. 892 -9.2% -15.2% -22.8% -22.8%
2 NIPPON PROLOGIS REIT, INC. 805 7.9% 21.0% 18.8% 18.8%
3 JAPAN REAL ESTATE INVESTMENT CORP. 792 -6.0% -12.6% -23.2% -23.2%
4 GLP J-REIT 649 8.9% 28.7% 16.0% 16.0%
5 NOMURA REAL ESTATE MASTER FUND, INC. 629 -3.0% -5.8% -30.6% -30.6%
Source: John Hopkins updated as of July 04, 2020
Source: RCA, Bloomberg updated as of June 30, 2020
Top 10 Commercial Deals (YTD)
Source: John Hopkins
Source: RCA, IMF, Macrobond updated as of June 30, 2020
▪
▪
▪
-
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
2,010 2,012 2,014 2,016 2,018 2020 (YTD)
US$
mill
ion
s
Commercial Value
Office 47%
Industrial 22%
Retail 13%
Hotel 3%
Apartment15%
Sector Breakdown (YTD)
-
500
1,000
1,500
2,000
2,500
Germany Singapore UnitedKingdom
France Hong Kong Canada China UnitedStates
US$
mill
ion
s
Cross Border Buyer Source (YTD)
COVID-19 Policies Implemented
✓
✓
✓
✓
✓
Source: RCA, IMF, Macrobond updated as of June 30, 2020
-
100
200
300
400
500
600
700
China Hong Kong Germany Australia United States United Kingdom
US$
mill
ion
s
Cross-Border Buyer Source (YTD)
▪
▪
▪
-
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
2010 2012 2014 2016 2018 2020 (YTD)
US$
mill
ion
s
Commercial Value
Office 55%
Industrial 22%
Retail 22%
Apartment 1%
Sector Breakdown (YTD)
COVID-19 Policies Implemented
✓
✓
✓
✓
✓
Source: RCA, IMF, Macrobond updated as of June 30, 2020
▪
▪
▪
-
500
1,000
1,500
2,000
2,500
3,000
2010 2012 2014 2016 2018 2020 (YTD)
US$
mill
ion
s
Commercial Value
Office 8%
Industrial 19%
Retail 11%
Hotel 1%
Apartment 61%
Sector Breakdown (YTD)
-
50
100
150
200
250
300
350
400
Singapore Japan
US$
mill
ion
s
Cross-Border Buyer Source (Since 2019)
COVID-19 Policies Implemented
✓
✓
✓
✓
✓
✓
Source: RCA, IMF, Macrobond updated as of June 30, 2020
▪
▪
▪
-
5,000
10,000
15,000
20,000
25,000
30,000
35,000
2010 2012 2014 2016 2018 2020 (YTD)
US$
mill
ion
s
Commercial Value
Office 46%
Industrial 14%
Retail 32%
Hotel 7%
Apartment 1%
Sector Breakdown (YTD)
COVID-19 Policies Implemented
✓
✓
✓
✓
Source: RCA, IMF, Macrobond updated as of June 30, 2020
▪
▪
▪
-
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
2010 2012 2014 2016 2018 2020(YTD)
US$
mill
ion
s
Commercial Value
Office78%
Industrial5%
Retail12%
Hotel5%
Sector Breakdown (YTD)
-
50
100
150
200
250
300
350
400
450
500
Singapore UnitedStates
Hong Kong UnitedKingdom
Japan
US$
mill
ion
s
Cross Border Buyer Source (YTD)
COVID-19 Policies Implemented
✓
✓
✓
✓
Source: RCA, IMF, Macrobond updated as of June 30, 2020
▪
▪
▪
-
2,000
4,000
6,000
8,000
10,000
12,000
14,000
2010 2012 2014 2016 2018 2020(YTD)
US$
mill
ion
s
Commercial Value
Office87%
Retail12%
Hotel1%
Sector Breakdown (YTD)
-
200
400
600
800
1,000
1,200
1,400
1,600
Singapore United States Germany Hong Kong
US$
mill
ion
s
Cross Border Buyer Source (YTD)
COVID-19 Policies Implemented
✓
✓
✓
✓
Source: RCA, IMF, Macrobond updated as of June 30, 2020
▪
▪
▪
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
2010 2012 2014 2016 2018 2020(YTD)
US$
mill
ion
s
Commercial Value
Office 40%
Industrial 15%
Retail 6%
Hotel 10%
Apartment29%
Sector Breakdown (YTD)
-
1,000
2,000
3,000
4,000
5,000
6,000
United States UnitedKingdom
Hong Kong Germany South Korea Singapore
US$
mill
ion
s
Cross Border Buyers Source (YTD)
COVID-19 Policies Implemented
✓
✓
✓
✓
Source: RCA, IMF, Macrobond updated as of June 30, 2020
▪
▪
▪
-
5,000
10,000
15,000
20,000
25,000
30,000
35,000
2010 2012 2014 2016 2018 2020 (YTD)
US$
mill
ion
s
Commercial Value
Office 56%
Industrial 8%
Retail 29%
Hotel 7%
Sector Breakdown (YTD)
-
100
200
300
400
500
600
700
800
United States Singapore UnitedKingdom
Germany
US$
mill
ion
s
Cross-Border Buyer Source (YTD)
COVID-19 Policies Implemented
✓
✓
✓
▪
▪
▪
Source: Venture Intelligence, IMF, Macrobond updated as of June 30, 2020
COVID-19 Policies Implemented
✓
✓
✓
✓
✓
✓
Source: John Hopkins
•
•
•
•
•
•
•