The Tokyo Stock Exchange REIT index has gained 0.6 percent this year, while the Topix index fell 9.1 percent. REIT bond sales this year amounted to 124.5 billion yen (1.46 billion dollars), the recovery of a single public sale of 3 million yen in 2008 and none in 2009, according to data compiled by Bloomberg.
The extra yield investors demand to own the first Japanese Investment Realty Corp. 1.71 percent bond maturing in May 2011 instead of similar debt of maturity of the government on average 0.7 percentage points yesterday, according to Securities Association in Japan Dealer prices. It was as high as 2.11 percentage points in April 2009, the awards ceremony.
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