For example M-REIT Index for Malaysia REIT? REIT performance measurement is always compared with benchmarks such as S&P500 Index, Sharpe ratio, Composite Index etc. Why is it not REIT Index for easy comparison with different REIT across the world
Real Estate values depend on the quality of the soil for example, that is the nature of their production system, hence the national identity of REIT shares depend both on physical factors as well as economic and financial factors especially when you factor in bounded rationality and complexity. Please refer to my paper on Emerging Market Stock Pricing on my RG page. I hope that helps.
The current study is diversification of REITs across continents using REIT indexes. The aim is to encourage trans continental diversification. I guess country's REIT index can help