The Global Real Estate Investment Trust Market: Development and Growth

Abstract

Up until the mid-1990s Real Estate Investment Trusts (REITs) were largely confined to the United States and in Australia, where they were known until recently as Listed Property Trusts. Although in both markets a REIT type structure had been in existence for decades, they were, within the perspective of their broader equity markets, relatively small sectors. The last two decades has however seen large scale growth in REITs, not only in the pioneering markets of the USA and Australia but globally through the introduction of REIT regimes in the majority of large capital markets.