- Cap rates have reversed to expansion of 110bp y-o-y in Australia and 75bp y-o-y in Germany. We like Frasers Logistics & Commercial Trust for its exposure to growth in Australia and Germany, which accounted for 50.3% and 23.4% of its portfolio valuation respectively.
- - Read this at SGinvestors.io -
Australia: Resilient growth despite marginal pullback.
- E-commerce penetration has stabilised at 12.8%. According to CBRE, growth in net face rents for prime logistics space has slightly moderated but remains significant at 22% and 25% y-o-y for Sydney and Melbourne respectively in 4Q23, compared with 11% for Brisbane.
- - Read this at SGinvestors.io -
Germany: Resiliency from efforts to build resilient supply chains.
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