Japan's Reits prefer share sales to bonds as property market turns bullish

Tokyo

JAPAN'S real estate investment trusts are raising more funds from shares, and avoiding a volatile bond market, as investors bet Abenomics will boost property prices.

Reits offered 222 billion yen (S$2.5 billion) of equity this year, already the busiest quarter since the final three months of 2013, Bloomberg-compiled data show. Note sales have dropped 39 per cent to 23 billion yen from a year ago, after 149.6 billion yen of issuance last year that was the most since 2010.