China REITs plumb record lows as economic gloom lingers
Chinese real estate investment trusts (REITs), which issue shares to investors against a portfolio of real estate holdings, have hit successive lows in the first few days of 2024.
As reported on Reuters,
After some initial excitement after its 2020 launch, China’s REIT market has witnessed an eye-watering bubble burst. The REITs index has nearly halved from its early 2022 peak.
Investors also dumped REITs backed by industrial parks amid signs vacancy rates are soaring. Vacancy at retail properties climbed to 9.1% at the end of September, from less than 6% in 2019