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China’s real estate woes weigh down S-Reits, but retail sector could be bright spot

Rental reversions in the segment are starting to turn positive amid a recovery in consumer spending

Navene Elangovan
Samuel Oh

Navene Elangovan &

Samuel Oh

Published Fri, Aug 23, 2024 · 05:00 AM
    • Above: Rock Square, CapitaLand China Trust's shopping mall in the Haizhu district of Guangzhou province. The S-Reit's distributable income fell in its latest round of financial results.
    • Above: Rock Square, CapitaLand China Trust's shopping mall in the Haizhu district of Guangzhou province. The S-Reit's distributable income fell in its latest round of financial results. PHOTO: CAPITALAND CHINA TRUST

    SINGAPORE-LISTED real estate investment trusts (S-Reits) with exposure to China will continue to see downward pressure on their valuations in the coming quarters amid the ongoing slump in China’s property market.

    However, the country’s retail sector, which is starting to see positive rental reversions, will be a bright spot in the otherwise gloomy real estate market, said market analysts in comments on the latest season of financial results.

    Latest results 

    The property market in China has been in a protracted slump since 2021, after the Chinese government’s crackdown on developers’ high reliance on debt for growth.

    China propertyS-ReitsFinancial results

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