After two years of underperformance, global real estate investment trusts are expected to outperform in 2024 due to a decline of supply and resilient corporate valuations, according to a new report from Hazelview Investments.

It found global REITs saw a turnaround rally of 18.9 per cent over the last two months of 2023, leading the asset class to end the year with an increase of 10.8 per cent. Nonetheless, global REITs underperformed compared to global equities, lagging by 1,359 basis points.