Business

This beaten-down ASX sector could soon be turning the corner

Published

4 years ago

April 12, 2021

ASX property shares have started recovering from their COVID-19 blues but office landlords are still struggling cover lost ground.

But a turnaround may not be far off. The analysts at Macquarie Group Ltd (ASX: MQG) noting some positives from the latest JLL industry data covering the March quarter.

ASX office shares falling behind

Any turn in sentiment would be good news for the DEXUS Property Group (ASX: DXS) share price. It has only inched up 4.6% over the past year when the S&P/ASX 200 Index (Index:^AXJO) surged 30%.

Fellow office-exposed property groups aren’t faring that much better. The Mirvac Group (ASX: MGR) share price gained around a modest 7% and the GPT Group (ASX: GPT) share price added less than 17%.