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JAPAN'S REAL ESTATE FINANCIAL CREATES NEW PRICE INDEX.
TOKYO, Aug 2 Asia Pulse - Real Estate Financial Engineering, a venture firm launched by Aoyama Gakuin University, has devised a unique real estate investment index based on the share prices of listed real estate investment trusts (REITs).
The company calculates the average price per square meter of real estate in which listed REITs have invested by using the share prices of those REITs.
As of July 16, the index stood at 927,750 yen (US$8,351), 24 per cent higher than when it was first computed, on March 31, 2003.
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