Abstract
REITs in Taiwan (T-REITs) have been an important property investment vehicle in Taiwan since 2005. This paper assess the significance, risk-adjusted performance and portfolio diversification benefits of T-REITs in a mixed-asset portfolio in Taiwan over 2005-2011. Whilst T-REITs under-performed the construction shares sector in Taiwan, they provided portfolio diversification benefits, with enhanced risk-adjusted returns, enhanced diversification benefits and a significant role in the mixed-asset portfolio in the post-GFC period. The key strategic issues for the ongoing strategic development of the T-REIT market are identified; particularly relating to the size and growth opportunities for T-REITs.
| Original language | English |
|---|---|
| Pages (from-to) | 67-80 |
| Number of pages | 14 |
| Journal | Pacific Rim Property Research Journal |
| Volume | 18 |
| Issue number | 1 |
| Publication status | Published - 2012 |
Keywords
- Asia
- Global Financial Crisis, 2008-2009
- Taiwan
- portfolio diversification
- real estate investment
- real estate investment trusts