Quarterly returns of 6.1% in 3Q2025 for Asian REITs are a deceleration from the double-digit returns in 2Q2025 and likely reflect a stronger US dollar and an uptick in short-term rates in markets like Japan and Hong Kong in 3Q2025, writes Chua in an Oct 16 note.
Chua Jen-Ai, Asia equity research analyst at Julius Baer, notes “positive but decelerating momentum” among Asian REITs in 3Q2025.
Asian REITs maintained their outperformance in 3Q2025, with total US dollar-denominated returns of 23% for the 9M2025 period, ahead of credit markets in Asia, which are up 7%, and global equities, which are up 18%.
